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Lot 1610
1907 $10 Indian. Wire Rim, Periods PCGS MS64. PCGS graded MS-64+. CAC Approved. This is the design that is closest to the original concept of the designer Augustus Saint-Gaudens intentions. Known technically as Judd-1774, these are actually patterns, but were produced in sufficient numbers (like the $4 gold Stellas) so they are widely collected today as part of the regular series of Indian Eagles. However, after striking and examining these 500 coins, it became obvious to mint officials that they would not stack properly in a uniform fashion, which is a requirement for modern coinage of the 20th Century. Thus, some modifications had to be taken to reduce the Wire Edge feature and give these coins some kind of defined rim, which would allow for proper stacking. Although the original mintage was not recorded, a letter from Henry Chapman to John Garrett from 1908 provides the mintage of 500 pieces, a number which is borne out in the population data seen today and is likely close to the mark as Chapman had many close ties with the Philadelphia Mint. Most of the examples known are considered Uncirculated (although these patterns should be considered Proofs), although a few apparently slipped into circulation for a time. Ownership of an example is simply required for any serious numismatist of this series, and these represent an integral part of the transformation from the concept of Augustus Saint-Gaudens to circulating coinage by the end of 1907.
Saint-Gaudens wanted a simple, elegant design for the eagle and double eagle. He reserved the full striding figure of Liberty for the larger $20 coin. Thus, a classical bust of Liberty would be required for the $10 coin, at the virtual demand of his friend and confidant President "Teddy" Roosevelt, an Indian headdress was included on Liberty's head, neither logical nor realistic, but a requirement nonetheless to appease the powers that be. The obverse design was elegant and simple; thirteen stars were placed as rim fortifications along the upper half of the obverse, the only letters were a small LIBERTY placed on her war bonnet. The date 1907 is located below her truncation.
The reverse design is somewhat crowded by the requirements of the day, a standing eagle stares fixedly to the left, above is UNITED STATES OF AMERICA, behind the eagle's back is E PLURIBUS UNUM and below is TEN DOLLARS. Tiny mintmarks, when applied, reside to the left of TEN. The only remotely open space on the coin is before the eagle's proud breast, which soon became the location of the Motto in 1908! Nevertheless, these elegant coins remain one of the most popular designs struck for circulation, and holding one of these in your hand gives one a glimpse into the greatness of that era.
While not the absolute finest from a technical grading perspective, the quality here nudges close to the gem levl, and this historic and handsome coin will always represent a fleeting peek of the granduer of the Roosevelt era. Rich golden toning. Only 500 minted. Pop 3; 90 finer (PCGS # 8850) Estimated Value $40,000-UP
Ex. US Gold from a prominent midwestern family collection.
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