1872 Liberty Head Eagle. MS-64 (PCGS). OGH. This 1872 $10 is a monumental rarity from the Liberty Head series and is perhaps the most visually spectacular survivor of the issue. At first glance, this coin exhibits the appearance of a Proof striking due to the incredibly intense contrast between the reflective fields and satiny devices. If submitted for certification today, we are confident it would earn a PL or even DMPL designation for this dramatic feature. The fields offer deep mirrors which frame a richly frosted texture across the design elements. The strike is exceptional, with razor sharp denticles and overall bold definition to every element. Inspection reveals considerable traces of die polishing across the obverse, most notably behind the date, around Libertys lower portrait, and around most of the stars at right. A lovely blend of peach and tangerine color dominates the patina, accented by splashes of warm bronze iridescence near the borders. A minor bagmark above the 2 in the date serves as a pedigree marker, as the surfaces are otherwise smooth and without notable blemishes. <p>This MS-64 (PCGS) 1872 $10 is tied at the very top of the PCGS Population Report with just one other example and none have been graded finer than MS-63 at NGC. It last appeared at auction in the October 1995 sale of the Warren Miller Collection and was acquired by our consignor a year later in 1996, making this the first time it has been available in over 25 years. It is one of the most special highlights from the Zito Collection and it represents a landmark offering for specialists in Liberty Head gold.</p><p>The 1872 is one of the most elusive of all Liberty eagles, a series replete with scarce and rare circulation strike issues. Virtually all Philadelphia Mint issues of the 1870s have very low mintages and few have survived. The reason for the limited production is that gold specie payments, which Eastern banks suspended in December 1861 due to the economic uncertainty of the Civil War, did not resume until gold achieved parity with paper currency on December 17, 1878.</p><p>The Philadelphia Mint struck just 1,620 circulation strike eagles in 1872 and survivors are seldom encountered at any level of preservation. <em>PCGS CoinFacts</em> estimates fewer than 50 examples survive in all grades, the vast majority of which are in grades of AU-50 and lower. It is significant that the National Numismatic Collection in the Smithsonian Institution does not include a circulation strike 1872 eagle, nor did the famous collections of Norweb, Garrett, or Eliasberg. The coin we offer here is a rarity par excellence among Liberty eagles, a numismatic legend whose inclusion therein will confirm the importance of any collection.</p> From the Dr. Paul and Rosalie Zito Collection. Acquired October 2, 1996. Earlier ex Heritages sale of the Warren Miller Collection, October 1995, lot 6361.
