Designed by: Christian Gobrecht
Issue Dates: 1866-1907
Composition: 90% gold, 10% copper
Diameter: 27 mm
Weight: 16.72 grams (258.02 grains)
Edge: Reeded
Proof Mintage: 2,327
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. Mintage figures crept up starting in the late 1880s, typically falling in the 60–100-coin range and survivors today are estimated in the 35-to-60-coin range for most dates.
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. However, the 1875 might as well be, as only 100 circulation strikes were made in Philadelphia that year, and Carson City, the only other mint striking eagles in 1875 managed only 7,715 pieces, making this date the undisputed “key” to the series.
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. Due to a change in the die preparation process for Proofs beginning in 1902, Deep or Ultra Cameos after this date are extremely rare to non-existent, but regular Cameos, though scarce, can still be found occasionally.
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.
