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Astounding 1804 Ten Dollar, MS63 NGC Condition Census Specimen
BD-1, Crosslet 4, High R.4. An incredibly challenging date in the Heraldic Eagle ten dollar series. In fact, it is the most difficult issue to locate and even tougher than the 1798/7 rarity. Only one die marriage was employed to produce 3,755 eagles in 1804, and less than 100 are extant in all grades—with or without damage. Mint State survivors are nearly unheard of. As of December 2008, NGC has certified a mere 34 examples, but only nine of those coins are Uncirculated. This specimen is one of five certified at the MS63 level and only one coin has achieved a higher grade designation—a singular MS64 piece. The most recent auction appearance of an unimpaired 1804 ten was in the November 2007 Stack’s sale of The Amherst Collection. That coin—a near-Mint State piece—realized $138,000. The coin presented here is surely in the Condition Census, although no formal survey currently exists.
The demand for 1804 tens is exacerbated by the fact that the date of 1804 is fabled in the numismatic world. Perhaps the most famous American coin is the 1804 Bust dollar, of which 15 examples are known. 1804 dollar auction appearances in the past several years have consistently yielded multi-million dollar prices. As such, even non-collectors of early U.S. type are fascinated by coins carrying the 1804 date, and demand for the 1804 tens dollar pieces is substantial. It is interesting to note that the Mint struck between four and eight 1804 eagles circa 1834 for inclusion in special sets that the government gave to foreign dignitaries--the most famous being the King of Siam set that includes one of the finest 1804 dollars extant. Those tens, of which only three are traced to this day, are distinguished from the original 1804 tens by the style of the 4 punch used in the date--on the restrikes, the 4 is plain. Collector’s Universe cites a value of $200,000 for this fantastic rarity.
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History
