Designed by: Christian Gobrecht
Issue Dates: 1838-1865
Composition: 90% gold, 10% copper
Diameter: 27 mm
Weight: 16.72 grams (258.02 grains)
Edge: Reeded
Proof Mintage: 400 (estimated)
Like their larger $20 siblings, the $10 Liberty is quite a rare coin in Proof. Prior to the mid-1880s, mintage seldom exceeded 40 pieces and with a portion of those going back into the melting pot as unsold, it is little wonder that survival estimates hover in the 10-to-20-coin range during these earlier years.
Not all the Proof survivors have remained unused however. Keep in mind that $10 a century and a quarter ago represented a significant sum of money (at least $250 in today’s money) and the numismatic premium for Proof gold was negligible – barely enough to cover the commission to the auction house or selling dealer – so many collectors (or their heirs) found it more economical to simply spend the coins rather than attempt to sell them for any sort of profit above face value.
Unlike the Liberty double eagles, there are no “Proof Only” $10 Liberty issues.
PCGS has awarded the Cameo or Deep Cameo designation to roughly 35% of the $10 Liberties it has certified, while NGC is apparently more liberal with that designation bestowing it upon about 75% of the Proof eagles it has graded.
Values for Proof $10 Liberties today run about half that of their larger $20 counterparts, with Choice PR-63 to 64 coins worth low to mid five-figures, and Gem (PR-65 to 67) pieces selling for high five-figure to low six-figure money. Even though this places them out of the reach of the average collector, owning just one nice example almost certainly places the owner in a very elite group of numismatists.
