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October 04, 2013

COIN OF THE WEEK

1914-D $10 INDIAN NGC MS67

 

1914-D Indian $10 Eagle NGC MS67 - $39,950.00


US Rare Coin Investments is pleased to present you with this absolutely gorgeous 1914-D Indian $10 Eagle graded MS67 by NGC! This MS67 Gem quality gold coin is among the 20th centuries finest conditional rarities in any gold denomination. With an auction sale in early 2013 for a PCGS CAC specimen of just under $90,000.00 we think this NGC graded specimen at just under 40K ( not a typo ) represents a fantastic value for an advanced collector, a 20th century gold specialist or investor on one of the rarest gold coins graded by NGC with a mere 6 coins grade in this lofty grade at NGC with NONE FINER at either service. $39,950.00

1914-D $10 Indian NGC MS67. Close to perfection and tied for the finest known at both NGC and PCGS is this Superb Gem Western branch mint 1914-D Indian Head eagle. The coin is well struck with full details on the Indian’s hair, the vanes of the feathers, and the shoulder of the eagle. The coin shows yellow gold color and is fully lustrous and frosty. The colors and luster attest to its originality. The surfaces are clean with no visible abrasion marks or other distractions. It is a magnificent, eye-appealing piece that shows the beauty of the Saint-Gaudens’ design.


The Indian Head eagle was minted from 1907 to 1933. In 1905 President Theodore Roosevelt visited the Smithsonian Institution and saw an exhibit of ancient Greek coins. He admired their high relief and bold designs and prevailed upon his friend Augustus Saint-Gaudens, who was in failing health, to design new gold coinage for the United States. Saint-Gaudens, who agreed with Roosevelt that the country’s coinage was hideous, redesigned the eagle and double eagle coins. Since Saint-Gaudens died in August, 1907, it is believed that the only new coin he actually saw was the gold eagle. The high relief of Saint-Gaudens’ Indian Head Eagle was criticized by Mint Engraver Charles Barber and other Mint workers.


The obverse consists of a close up profile of a head of Liberty facing left. Above her unrealistic war bonnet are thirteen stars in an arc. Below the truncation is the date. The origin of the profile is Saint-Gaudens’ own statue of Nike which is part of his memorial to General Sherman and can still be seen at the southern entrance to Central Park in New York City. Alice Butler was the model for the sculpture. Originally Saint-Gaudens wanted to place a wreath on Liberty’s head, but President Roosevelt insisted that it be a feathered war bonnet to give the coin a more nationalistic appeal. (Roosevelt also asked Saint-Gaudens to switch the designs of the eagle and double eagle coins. He felt that the close profile was more suited to an eagle size coin and that the striding figure of Liberty was better on the double eagle.)


The reverse of Saint-Gaudens’ Indian Head Eagle shows a powerful standing eagle that is suggestive of Egyptian art. It shows the eagle standing on a bundle of arrows that resemble fasces. In Roman iconography, fasces symbolized the power to kill or the power of life and death. Held on top of the arrows by the eagle’s talon is the olive branch, the traditional symbol of peace. Above the eagle’s head is UNITED STATES OF AMERICA and in the right field is the motto E PLURIBUS UNUM. The denomination TEN DOLLARS is below. On its edge, the coin has forty-six raised stars.


Roosevelt, a deeply religious man, felt that it was blasphemous to have God’s name on a coin. Coins were used for gambling, prostitution, hiring assassins, and worse. So he asked Saint-Gaudens to omit the motto “In God We Trust.”


The first eagles of this design were struck, as were the ancient coins that Roosevelt admired, in high relief. They also had a knife rim or wire edge. This rim is a narrow piece of coin metal outside the border that is caused by the pressure between the dies and the collar. Its presence is annoying to those in commerce and banking because it often prevents the coins from stacking. Also these rims can cause ejections problems sometimes causing the new coins get stuck in the coining chamber. For these and other reasons, Charles Barber opposed the high relief coins. Despite his objections, a few were issued in 1907. The next year Barber lowered the relief when the motto was added.


There are two main types of Indian Head Eagles. The first is the No Motto or Type 1, which has a few varieties, with and without wire rims (also called rounded rims), periods before and after the motto, and a no periods variety. The second type has the motto IN GOD WE TRUST added to the reverse left field. The coins of this type were minted mid 1908 to the end of the series in 1933. Since the change to add the motto was made in the middle of the year, 1908 had both the No Motto and Motto on Reverse types. Most likely the members of Congress who advocated for the addition of the motto on the coinage were trying to prove that they were not atheists. Obviously they were not particularly concerned about maintaining the separation between church and state. In 1912 two more stars were added to the rim to reflect the statehood of Arizona and New Mexico.


Augustus Saint-Gaudens was born in Ireland, the son of a shoemaker. He became one of America’s most successful sculptors of the late nineteenth and early twentieth centuries. In 1848, his family moved from Dublin to New York before his first birthday. When he was thirteen, Saint-Gaudens left school and became an apprentice to a cameo cutter. He also took classes at Cooper Union and the National Academy of Design. When he was nineteen, he moved to Europe where he studied classical art and architecture.


His first commission was a statue of Admiral Farragut that is still in Madison Square Park in New York. By the 1890’s Saint-Gaudens had produced his statues of Diana and Abraham Lincoln, both considered some of his greatest works. He also created works such as the Robert Gould Shaw Memorial on Boston Common and the equestrian monument to Civil War general John A. Logan in Chicago. He became part of a group of new artists and architects and worked for an architectural firm for whom he produced a group of monuments and decorative sculpture. Throughout his career, he worked with architects creating works that were designed specifically for the sites they were building.


Saint-Gaudens moved to his summer home in Cornish, New Hampshire in 1900. Joined there by a community of artists, Saint-Gaudens spent his final years. He died of stomach cancer in 1907 just after he created the beautiful high relief models for the eagle and double eagle coins at the request of President Theodore Roosevelt, for whom he had earlier designed the second inaugural medal.


The population reports of both NGC and PCGS show the present coin tied for the finest known with 5 others at NGC and 3 at PCGS. These numbers do not account for crossovers or resubmissions. So here is an opportunity to add a superb 1914-D eagle to a fine numismatic cabinet.


AND NOW YOU HAVE A CHANCE TO PURCHASE THIS 1914-D $10 INDIAN NGC MS67. BUY IT HERE !



Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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