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3159

1907 $10 Wire Rim MS66 PCGS. In 1907 the first coin st

Currency:USD Category:Coins & Paper Money / US Coins Start Price:65,000.00 USD Estimated At:1.00 - 2.00 USD
1907 $10 Wire Rim MS66 PCGS. In 1907 the first coin st
<B>1907 $10 Wire Rim MS66 PCGS.</B></I> In 1907 the first coin struck of the Saint-Gaudens designs was the ten dollar gold piece. This featured a portrait of Liberty, wearing an Indian ceremonial headdress on the obverse. The reverse included a standing eagle, facing left, clutching a bundle of arrows with an entwined olive branch. This was derived from the 1905 special inaugural medal by Saint-Gaudens and Weinman.<BR> Ten dollar gold coins of the initial Saint-Gaudens design were prepared from models that had the field curving upward directly to the rim of the coin. This produced a pronounced knife rim (traditionally called a "wire rim") rather than the normal flat rim of circulating coins. This prevented easy stacking of the coins, and they were never intended for general circulation and never distributed to sub-Treasuries or commercial banks. The reverse design had triangular text stops (called "periods" by most) at the ends of each line of inscription. The edge had 46 small stars placed evenly around the circumference. (Note: true patterns had either a plain edge, or 46 irregularly sized and spaced stars.)<BR> Five hundred of the knife rim/periods eagles were struck on a medal press during the last days of August and the first part of September 1907. The work was done so that if President Roosevelt called for some of the Saint-Gaudens design coins, the mint would be able to provide them. The eagles, along with the High Relief double eagles, were distributed at face value to Cabinet members, Congressmen, Federal judges, Treasury officials, and others who requested them, including private citizens and museums. In late December an additional 42 pieces were struck, making a total mintage of 542 pieces.<BR> Eagles that remained undistributed by mid-December were shipped to the Treasury Department in Washington, D.C., and remained there for several years. In 1912, the Treasurer's coins were counted and found to contain 129 of the knife rim/periods ten dollar gold pieces. Over the next year, 59 pieces were sold to coin dealers Tom Elder and Henry Chapman, with a few to Treasury employees, for $15 each. The proceeds went into the Philadelphia Mint Collection fund. Seventy pieces could not be sold at a premium and were melted. Thus, the maximum quantity available to coin collectors is 472 pieces. Examples that are noticeably worn were probably kept as pocket pieces. Many examples were handled roughly over the past century and have numerous dings and abrasions. Quite a few specimens have a partial fin due to a mismatch between face and edge dies. The fin (also called a "Wire Rim") was considered by the mint as a defect and does not indicate the coin was struck with abnormally high pressure.<BR> As with all Wire Rim tens, this piece shows pronounced die polishing marks in the fields and bright, satiny mint luster. However, rather than the usual bright yellow-gold color normally seen on these pieces, this coin has taken on a light overlay of reddish patina with the passage of time. Virtually perfect surfaces; there are no obvious or distracting contact marks on either side of this magnificent coin.<BR><I>From The Kutasi Collection.</B></I><BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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