Home U.S. Coin Forum
Options

Coin Week: "PCGS Certifies Unique Special Strike 1904-O $10 Gold Eagle"

GoldbullyGoldbully Posts: 16,864 ✭✭✭✭✭

PCGS Certifies Unique Special Strike 1904-O $10 Gold Eagle
By PCGS - October 13, 2017


Professional Coin Grading Service (PCGS) has certified the 1904-O $10 W.J. Brophy specimen as a unique Special Strike, SP68. PCGS experts have attributed the coin, which was the first gold eagle coined at the New Orleans Mint in 1904, as a SP (Special Strike) after reexamination of the coin’s surfaces.

Originally graded PCGS MS68 in the 1990s, PCGS elevated the eagle’s status to Special Strike after a new inspection of the coin’s fresh, orange peel-like surfaces.

“I knew of this coin as a presentation piece, but it was not until I was able to personally inspect the coin that I realized just how special it truly is,” recalls John Dannreuther, member of the PCGS Board of Experts.

“This 1904-O eagle was struck from dies that were specially prepared.

“You can see from the coin that the dies were polished, but not to the brilliance seen on Proofs. This coin’s surfaces are like the 1909 and 1910 Satin Proof gold issues with a rippled field effect, but it is not a Proof in our opinion.”


When a coin was made for a specific person or event, especially at the Philadelphia Mint, it was almost always struck as a Proof. The branch mints, however, did not always produce Proofs for these occasions. This 1904-O eagle was struck from dies that were specially prepared, but they were not acid treated to produce the frosty effect seen on Proof coinage, such as the well-known 1844-O half eagle and eagle proofs.

Adding to the coin’s allure is a modest, tattered old envelope in which it was stored for decades.

The envelope, which accompanied the coin through the 1970s, features a handwritten message attributing it as the first eagle coined in 1904:

First Gold Coined 1904 W.J. Brophy Coiner U.S. Mint $10.00 and $5.00

PCGS note: No 1904-O half eagles were struck.

PCGS states that it is unknown whether this example was retained by coiner William J. Brophy (1868-1942) or was presented to someone else with Brophy attesting to the fact that it was the first eagle struck in 1904.

PCGS Founder David Hall also personally inspected the coin.

“One only needs to examine this example to understand how significant this coin is to the output of the New Orleans Mint, as well as the special issues of all American gold coins,” stated Hall. “It joins the 1844-O half eagle and eagle, as well as the 1838-O half dollar, as one of the most significant releases from the New Orleans Mint.”

Adding to the coin’s magnificence is that it resides in a Regency holder, one of the more unusual holders ever issued by PCGS. Designed as a premium holder for rare and important coins, the holder’s awkward, oversized design and dark green background limited its popularity. Issued from only 1992 to 1996 for approximately 700 coins, today they are seldom seen in the marketplace.

This holder makes the Unique 1904-O $10 SP68 even more exceptional.

The coin will not be removed from its holder to update the designation, but the changes will be reflected in PCGS population reporting.

“While we are unsure of the coin’s value due to its rarity, we can all agree it is an important numismatic piece,” continued Hall. “We are also currently still evaluating how the coin will be integrated into the PCGS Set Registry.”

https://coinweek.com/us-coins/pcgs-certifies-unique-special-strike-1904-o-10-gold-eagle/

Comments

  • Options
    Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    That's cool and in the old holder!

  • Options
    KoveKove Posts: 2,026 ✭✭✭✭

    Great discovery and story! Also very cool that they're leaving it in the Regency holder, and the original envelope is with it to boot.

  • Options
    MrEurekaMrEureka Posts: 23,945 ✭✭✭✭✭

    If you think it's cool in that holder, you should have seen it when it was raw in a Capital Plastics holder, as part of a stunning 12 piece type set offered privately in the late 80's. The set also contained the Eliasberg 1894-S $5, later graded 69. CJ probably remembers the other 10 coins...

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • Options
    PhilLynottPhilLynott Posts: 881 ✭✭✭✭✭

    Thanks for sharing. What a beautiful coin, the $10 lib is my favorite US coin and that one certainly would fit nicely in my collection.

  • Options
    CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭

    I very much like the surface of this piece, it rings out proof but not proof surfaces. I am glad there integrating the old holder with the new designation.

    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

    Successful Trades: Swampboy,
  • Options
    2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭

    Looks like a lock upgrade... crack and resubmit

    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • Options
    Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Wow, very interesting !!!

    Timbuk3
  • Options
    bolivarshagnastybolivarshagnasty Posts: 7,348 ✭✭✭✭✭

    Love everything about that coin.

  • Options
    WinLoseWinWinLoseWin Posts: 1,481 ✭✭✭✭✭

    .
    .

    Here is the 12 piece gold type set it was from as individually sold in Auction '88 as shown on the Newman Numismatic Portal. The prices realized are at the front of the catalog.

    I recall seeing the 1904-O $10 and the 1894-S $5 displayed at the 1988 Cincinnati ANA just after the auction. Seems like they were at different dealer tables. Pretty cool stuff. These each sold again for more in either Auction '89 or Auction '90. The 1904-O brought $82,500 then $104,500, the 1894-S sold raw for $115,500 then NGC-69 at $264,000.

    https://archive.org/stream/auction88featuri0000stac#page/306/mode/2up

    .
    .

    "To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin

  • Options
    RogerBRogerB Posts: 8,852 ✭✭✭✭✭

    Fresh coin off new die pair. Nice, but it remains within the range of normal coinage. I.e., no special treatment. Coins #2-#100+ probably looked much the same. The little envelope note seems clear and direct.

    Certainly a premium coin and worthy of a significant price increase over an ordinary piece.
    :)

  • Options
    GoldbullyGoldbully Posts: 16,864 ✭✭✭✭✭

    _Coins #2-#100+ probably looked much the same. _

    Yeah, but where are they hiding RWB? ;)

  • Options
    cameonut2011cameonut2011 Posts: 10,061 ✭✭✭✭✭

    @RogerB said:
    Fresh coin off new die pair. Nice, but it remains within the range of normal coinage. I.e., no special treatment. Coins #2-#100+ probably looked much the same. The little envelope note seems clear and direct.

    Certainly a premium coin and worthy of a significant price increase over an ordinary piece.
    :)

    I agree. The whole thing has a "Walter Breen" feel about it to me.

  • Options

    anybody can tell me if it is for sale ? I would be interested.

  • Options
    rickoricko Posts: 98,724 ✭✭✭✭✭

    Beautiful and unique..... Would enjoy seeing it in hand.... Cheers, RickO

  • Options
    StuartStuart Posts: 9,761 ✭✭✭✭✭

    Hi @RogerB ,

    You and I have communicated previously about Well-Struck 1921 (VAM-1H) Peace Dollars with different surface characteristics (Satiny vs Frosty Field Luster) from the typical weakly struck example.

    In your “A Guide Book of Peace Dollars”, you attributed these to being struck with higher (150 Ton PSI) pressure on Medallic (Hydraulic?) Minting Presses.

    Do you think that any of these Early Die State Coins could perhaps qualify for “Specimen” status by TPGS’s similar to the 1904-O $10 Gold Eagle subject coin of this thread?

    Pictured is an example of one of these 1921 (VAM-1H) coins for discussion purposes along the “Specimen” designated coin theme of this thread. - I’m looking forward to your informed reply.

    @RogerB said:
    Fresh coin off new die pair. Nice, but it remains within the range of normal coinage. I.e., no special treatment. Coins #2-#100+ probably looked much the same. The little envelope note seems clear and direct.

    Certainly a premium coin and worthy of a significant price increase over an ordinary piece.
    :)



    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • Options
    RogerBRogerB Posts: 8,852 ✭✭✭✭✭

    Nope. All are within normal production tolerances and expectations.

    Only the proofs were made on a hydraulic press. A toggle press could produce more than 150 tons, but rarely was used that way because die steel of that time could not stand the stress. Hence, Morgan's remarks about dies exploding during the first day's press run.

  • Options
    LakesammmanLakesammman Posts: 17,294 ✭✭✭✭✭

    Saw it at the ANA at David Hall Rare Coins - nice holder, special coin. :+1:

    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file