1860 $10 Clark, Gruber & Co. MS(PCGS#10137)

The Regency Auction 40

拍卖行

Legend Rare Coin Auctions

批号

366

等级

XF40

价格

149,734

详细说明

Historic and incredibly important, the Pikes Peak design on these 1860 Clark Gruber eagles are among the most popular of Territorial or "Pioneer" gold coins. Though gold deposits in Jefferson Territory (now Colorado) were discovered as early as 1835, the Colorado gold rush hit its peak in 1859 to 1860. Issued by Clark, Gruber, and Co, a Denver based bank and private mint, the firm was among the most honest of the era, both in their financial and assay/minting business. Because they alloyed customers' gold deposits with silver, the face values equaled that of the Federal coinage, but the weights were actually heavier. Clearly the public put its trust in the Clark Gruber firm, as most of these show considerable circulation. The 1860 eagle and double eagle sport a fanciful view of Pikes Peak, the famed mountain jewel of the Rockies. The dies were produced by an engraver who had not seen the mountain, and its triangular shape makes it quite charming for collectors today. The present XF, graded ages ago, and housed in an old green tag holder has been off the market for quite some time. All Clark Gruber $10s are listed as Kagin-3, which is considered to be Rarity-5. The coin offered here is a late die state, which shows a dramatic die crack from D in GOLD through the right base of Pikes Peak, to the rim to the right of D (this crack is not described in the Kagin book, but is the same as lot 606 in ANR's September 2003 auction sale). Rich green-gold color with tinges of tangerine hues cover both sides. Well struck and showing its distinctive details boldly, including the scruff of bushes and trees at the base of of the mountain, this coin has the appearance of an even higher grade. We think that back when this coin was graded, it was "net" graded for some microscopic planchet flaws, as made. A few wispy marks are noted with a glass, evidence of its time in frontier commerce, none of which are distracting to the eye. Indeed, this coin has an exceptional visual allure that is truly a delight to behold! PCGS 15, NGC 4. While there are a number of examples in AU grades, many of those have been dipped, stripped, cleaned, conserved, or have been otherwise processed in a way to bring out the luster, and destroy the originality. This piece is a very happy exception to that rule. The last PCGS-graded example has a similar look overall, and sold in the 2017 FUN auction for $19,975. Prior to that, no XF40 has sold since the above mentioned ANR example. The current PCGS Price Guide value is $24,500. The only other Clark Gruber $10 we offered was the PCGS MS62 from the Phil Flannagan Collection we sold in December 2013 for a near record $97,750 on an estimate of $65,000+. We suspect that this lovely XF40 will likewise see strong bidding that brings it above our estimate range. A great type coin for anyone working on a type set of Territorial gold coins. Good luck. Cert. Number 3192850 PCGS # 10137