LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

2122

1851 $10 Baldwin Ten Dollar MS62 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:50,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1851 $10 Baldwin Ten Dollar MS62 NGC
<B>1851 $10 Baldwin Ten Dollar MS62 NGC.</B></I> K-4, High R.6. The California firm of Baldwin & Co. produced a limited number of gold coins in 1850 and 1851, during the early years of the California gold rush. Their most famous issue is the Vaquero piece, also known as the Horseman. The present Baldwin coin is the more traditional design with Liberty on the obverse and an eagle on the reverse, in the style of Federal coins from the period.<BR> Don Kagin writes in <I>Private Gold Coins and Patterns of the United States</B></I> that these pieces were struck from convex dies, giving a slightly dished appearance to the coin. The central obverse is visibly dished and the central reverse is bowed, contributing to the strike weakness in this area. Several stars are connected to the border by fine die cracks, with a faint crack at the base of the date. The reverse has a single die crack from the border to the right top of F in CALIFORNIA.<BR> The rarity of the Baldwin gold pieces can be attributed to the possibly underhanded practices of James King of William, called by Kagin "the most notorious chapter in private gold coinage." King was a banker who also produced his own private ingots. In an obvious effort to discredit his competitors, King sent a selection of Baldwin, Schultz, and Dubosq coins to Augustus Humbert for assay. The results showed that each of these firms produced coins of less than full value. He had the results published in various newspapers, and his competitors were soon out of business. Today, all of these discredited pieces are among the rarest and most valuable California private gold pieces.<BR> This example is the first Mint State piece we have ever handled. In fact, NGC and PCGS have each graded just one Mint State example, MS62 and MS61 respectively. In all grades, the two firms have certified just ten pieces between them. This example is fully brilliant with green-gold surfaces, satiny luster on the obverse, and frosty luster on the reverse. Each side displays the usual minor surface marks that are expected, although there are no significant imperfections. We noted earlier that the central obverse and reverse motifs are weakly defined, with sharper details near the peripheries. This is a remarkable example that may qualify as the finest known example of the variety. It is the best that has been certified by either NGC or PCGS. The four coins graded by NGC are VF35, AU55, AU58, and this MS62.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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