Feb. 16, 2001, The Benson Collection Part 1, Sale 8
Lot 4084
1896. NGC graded
MS-64. Light coppery toning and clean fields and devices.
Estimated
Value $1,250-1,500.
Lot 4085
1897. NGC graded
MS-64. Light scuffs in the fields, just enough to keep it from the gem
class, flashy and well struck.
Estimated Value $800-1,000.
Lot 4086
1897. PCGS graded
MS-63. Choice fields and devices, with a satiny tone in the color
department. Scarce, even in this grade.
Estimated Value $350-400.
Lot 4087
1898. VF-35.
Lightly cleaned, but very acceptable. Worth a bid.
Estimated Value
$130-160.
Lot 4088
1899. NGC graded
MS-63. Choice surfaces, but there are numerous small ticks throughout.
Estimated Value $375-400.
Lot 4089
1899. NGC graded
MS-63. Better than average surfaces for the grade, with nice luster and
color.
Estimated Value $375-400.
Lot 4090
1899. NGC graded
MS-63. Better than average surfaces for the grade, with nice luster and
color and a bit of toning.
Estimated Value $375-400.
Lot 4091
1899. NGC graded
MS-63. This one has nice luster, but a faint stain on the lower reverse.
Estimated Value $375-400.
Lot 4092
1899. MS-60.
Typical bag abrasions on both sides, but lustrous.
Estimated Value
$175-200.
Lot 4093
1902-S. MS-60 Plus.
Nice color and surfaces for the grade.
Estimated Value $300-350.
Lot 4094
1905. PCGS graded
Proof 64 Premium Quality. Nearly a gem proof with excellent fields and
frosted devices. The delicate mirror fields show only a few minor hairlines,
and no other signs of contact. There is a trivial spot on the left foot of the
N of TEN, which will serve to identify this coin. Rare and desirable this nice.
Many collectors never get a chance to see, let alone own, such a wonderful
coin. We are proud to offer it and expect spirited bidding to capture this
prize.
Estimated Value $12,500-UP.
Lot 4095
1905. PCGS graded
MS-64. Satiny luster throughout and sharply struck. Nearly a gem and a
tough type coin to find this nice.
Estimated Value $2,000-2,500.
Lot 4096
1906-D. Broadstruck out
of the collar. PCGS graded MS-65. This coin is simply stunning,
not only is it broadstruck, but it is in superb condition too. The surfaces are
pristine, with no bagmarks or other problems. As to the grade, a few wispy
hairlines kept it from even a higher grade point number according to Rick
Montgomery, President of PCGS, who also stated it was "the finest quality gold
mint error that I have ever seen".
Error specialist Fred Weinberg stated
"from the standpoint of condition, it is certainly one of the top five or six
gold mint errors to surface in the past 30 years." He went on to say, "This is
an extremely rare denomination to find broadstruck out of collar," adding
"There is absolutely zero evidence of reeding, which is good. It shows that the
planchet was lying completely on top of the collar when it was
struck."
Normally the collar keeps the coin from expanding outward during
the striking process, in this case the collar was below the planchet, so when
it was struck by the dies the coin expanded outward, increasing the diameter.
Naturally, the coin was weighed at PCGS and it is the correct weight for the
planchet of 16.718 grams.
The year 1906 is important for Denver, it is the
first year coins were struck at the new Mint there, and this obviously wasn't
their best effort. Researchers contacted the Denver Mint to see if there was
any record of this error being struck or discussing the coin, and after
exhaustive research, no written record of the coin was found in the archives.
Apparently this coin was struck and went through normal channels, landing in
Europe for a few decades before discovery. This coin was found in Europe about
30 years ago and purchased by Ed "The Hawk" Shapiro and has appeared a couple
of times since then. The coin has been in a specialized collection for some
time and has resurfaced recently. Once sold, it likely will disappear for many
years, again, to a very cherished place in a specialized collection.
Gold
error coins are far more rare than silver or copper. The mints were more
careful, and inspection much more rigorous for these important coins. Hence,
very few escaped into circulation, and precious few are found today. Even worn
errors are highly valued, and seldom offered. No similar error has been offered
recently, the closest we could find is an 1895 half eagle in MS-64 that was 20
percent off-center which realized $29,000 at a Kingswood Auction.
We note
some recutting on the 6 in the date, it is likely just repunching, although
some have called this an overdate. We doubt if an accurate determination can be
made, as there is not much evidence to work with. Make sure you view this coin
as words fail to describe how awe inspiring it is. A foremost opportunity for
the most advanced specialist. Color photo.
Estimated Value $20,000-30,000.
Lot 4097
1907. PCGS graded
MS-65. One of the finest graded of this date! The recent PCGS Population
Report shows only 4 coins graded this high, with none graded higher. The
surfaces are simply superb, satiny luster in the fields and nary a mark to be
found. A condition rarity that is stunning to look at.
Estimated Value
$3,000-4,000.
Lot 4098
1907-S. MS-64.
Sharply impressed by the dies and light copper toning in the fields.
Blazing luster and with very clean surfaces. Take a look at this coin.
Estimated Value $4,000-5,000.
Lot 4099
1880 to 1907. A group of
8. Includes: 1880; 1881; 1893; 1894; 1897 (2 pcs); 1899; 1907. Coins
grade Very Fine to Extremely Fine. Total of 8 coins.
Estimated Value
$900-1,050.
Lot 4100
1907. Wire rim, periods.
NGC graded MS-66. Miscalled the "wire rim" by most, the proper term
is "knife rim" to describe the fine raised circle of gold at the extreme edge
of the rim on the obverse and reverse. The surfaces are outstanding, with
satiny softness throughout. The fields show extensive die polishing lines which
cross many of the devices. The net mintage is believed to be 448, after some
were melted from the original 500 coined. Apparently these were not intended
for circulation, but were instead given out to dignitaries, hence most of these
are not well preserved.
One of only 3 graded as such, with 4 graded higher
by NGC. This one has a tiny mark in the field before Liberty's nose, and
another small scrape on the raised branch below the eagle's foreward claw. In
NGC holder #651795-007.
The story on this issue is delightful and is always
worth repeating. President Teddy Roosevelt took it upon himself to replace the
designs on our national coinage. In a letter to the famed sculptor Augustus St.
Gaudens, Roosevelt called the coin designs then in circulation "atrociously
hideous", and further asked for St. Gaudens help in redesigning the coinage.
St. Gaudens had sworn he would never work for mint under any circumstances
after submitting a magnificent design for the official medal of the 1892
Columbian Exposition. St. Gaudens submission featured a magnificent portrait of
Columbus, with the reverse of a Grecian youth, unashamedly naked, holding torch
and wreaths to crown the victors. The controlling Board of Gentlemen Managers
of the Exposition accepted St. Gaudens models and displayed them. Soon the
naked youth came to the attention of Anthony Comstock, founder of the Society
for the Suppression of Vice, who at once denounced the St. Gaudens reverse as
"obscene", and began a torrent of verbal abuse at the sculptor and the
Exposition. Comstock also wielded his immense power in Congress. The Board,
afraid to stand up to the fanatic, or to defend St. Gaudens from fundamentalist
prudery, withdrew the reverse and asked Charles E. Barber to design a
replacement, predictably notable in its banality. St. Gaudens, infuriated,
swore he would go to his grave before having anything to do with the Mint
Bureau again.
Fourteen years after that painful incident, President Theodore
Roosevelt used his friendship with St. Gaudens to persuade him to design his
official inaugural medal. Roosevelt confided to St. Gaudens his "pet crime" of
wanting to redesign Barbers coinage. This seemed plausible with Roosevelt in
the White House. Roosevelt specifically wanted to see the beauty and dignity
displayed on Greek coins on America's coinage. St. Gaudens took on the
challenge, and began to produce models, just as his health declined. St.
Gaudens's pupil, Henry Hering stepped into St. Gaudens's shoes and completed
the finishing touches on the designs and Roosevelt used all his influence to
have dies made under Hering's supervision. Barber hated the personal slight,
and fought the Roosevelt/St. Gaudens project every step of the way.
At last,
dies were completed for these magnificent eagles. Having no edge, the wire rim
became a problem when the coins were stacked, so they would tip over, not to
mention being a handy dirt collecting device. Barber demanded they be
redesigned, and sabotaged the project at every turn. Roosevelt persisted, and
Hering continued to press for the original designs. Nevertheless, Barber's
sabotage paid off, and the original concepts were changed in late 1907,
reducing the relief adding rims to the eagles and double eagles designed by St.
Gaudens. Meanwhile St. Gaudens died before any were coined, never seeing his
magnificent coins in circulation. This particular coin is closest to St.
Gauden's original design, on later issues the periods were dropped, then the
design was changed a bit by Barber for the more common no periods, "Type
III".
St. Gaudens had originally hoped to have a full standing figure of
Liberty, but Roosevelt wanted only Liberty's head, so as not to detract from
the stunning full person of Liberty on the double eagle. St. Gaudens chose the
figure of Nike from his General Sherman monument (1905) for the obverse head,
Roosevelt then requested the Indian war bonnet be added, possibly to conceal
the Sherman monument connection, and thus minimize protests from the South. No
Native American woman would have worn such a war bonnet, but the powers that be
insisted, so there it is. (See Breen's Encyclopedia for more).
This coin is
a sweet reminder of an epic battle that waged from the White House to the Mint,
and the power of many personalities, all struggling with their own agendas.
Estimated Value $50,000-75,000.
Lot 4101
1907. No periods.
MS-64. With very satiny luster, especially on the Indian's face, and
clean in the fields. A touch of weakness in the strike on the upper devices.
Estimated Value $1,500-2,000.
Lot 4102
1907. No periods.
MS-60. Satiny luster throughout.
Estimated Value $350-400.