Lot 1679
1907 $10 Indian. Rounded rim, periods. PCGS graded MS-65 PQ. Encased in PCGS holder 21922348. A gorgeous gem example of this coveted rarity. Net mintage (after melted), only 42 coins. Well struck with lovely rich golden toning on both sides. A Premium Quality coin for the grade. To put it in its simplest terms, this is a breathtakingly beautiful Indian ten. The surfaces are downy and supple with a sheen that reveals barely a visible abrasion on either side. Entirely lustrous, it has a frosty texture to the finish. All areas appear as sharply defined as any seen on this rare issue. Finally, the color is almost orange-gold with subtle accents words can only hint at by never describe. We are almost left gurgling, lost for words. We cannot do this coin justice enough. Don't be surprised if it realizes a record-shattering price realized when it crosses the auction block.
The 1907 $10 Rolled Edge is extremely rare and of the utmost importance to American numismatics. Although sources vary as to the final mintage of this issue (references indicate production figures that range from 20,000 to 34,100 pieces, nearly all of which were then melted), it is generally thought that as few as 40 to 45 pieces escaped the melting pot.
The rarity of the 1907 Rolled Edge With Periods $10 gold pieces can be credited to a conclusion drawn by the Director of the Mint, Frank Leach. In a letter from Superintendent of the Mint John H. Landis to Leach dated September 25, 1907, it is averred that examples of both this design and the adopted 1907 No Periods design were supplied to Leach. The latter design, struck with the intention of providing modifications that would make this issue more suitable for the day to day requirements of circulation proved to be the preferred design. The striking characteristics of the With Periods design was felt to be too imprecise, lacking in fine detail and sharpness. The rounded or "rolled" edge was also felt to be less suitable for stacking than the broader edge of the No Periods design. In this same letter, Landis also writes that "we have on hand $315,000 of the first model [the With Periods design], struck on the coining press, and $500, struck on the medal press." This would convert into a total of 31,550 pieces. It is unclear whether this number is the full extent of the mintage; however, it is plain that nearly all were melted per the wishes of Leach. Thereupon, mass production of the No Periods design followed.
Pop 13; 13 in 66, 3 in 67. (PCGS # 8851) .
Estimated Value $225,000 - 250,000.
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