Lot 2072

Very sharply struck, especially on the reverse, with only slight weakness on a few hair curls. Star 7 is mostly flat while all other stars are detailed. The obverse devices are generally grayish gold with blue, heather, and amber toning. Obverse fields are lightly reflective with minor lint marks from die polishing. The reverse has more deeply mirrored fields with heather, amber, and bright blue toning. Parallel "adjustment marks" are present on the reverse, diagonally down to the left, just right of center.

This example is tied with one other for third finest reported, based on Mike Sherrill's article cited below. Stack's described this as "Choice Brilliant Specimen Proof" in their catalogue of the Starr Collection. In the 1939 Morgenthau catalogue, this coin was described simply as "1827 Brilliant Proof. Extremely Rare."

This variety is only known in Proof condition (or well circulated), similar to the 1827 Original quarter dollar. It is interesting to note that both obverse and reverse dies were earlier used to produce other non-Proof varieties.

Second use of each die. The obverse was earlier used for JR-9 and the reverse for JR-7.

The obverse has very light clash marks visible in the form of concentric arcs between the date and bust, from the scroll on the reverse. The reverse has light clash marks along with a die crack from left edge of the upright of F, diagonally down to the left crossing the scroll and beak, emerging from the lower beak to top of the left wing. This is a clearly later die state than found on 1827 JR-7, above, which has no trace of this crack.

In issue 41 of the John Reich Journal, Mike Sherrill took a closer look at this rare Proof-only variety. He notes that, with the exception of two circulated examples, all known specimens of this die marriage are Proofs. After presenting considerable details, along with a conjecture that these may have been struck with a closed collar, Sherrill presents a Census of eight examples, five Proofs and three circulated.

The following is a summary of the eight known 1827 JR-10 dimes, based on the research of Mike Sherrill with our thanks to the author:

1. Cleneay; Kelly; Bareford; Lovejoy, Lot 85. NGC Proof-67.

2. Auction '89, Lot 540. NGC Proof-65.

3. F.C.C. Boyd; 1946 ANA; Stack's, June 2000, Lot 596. Proof-63.

4. The example offered here. Morgenthau; Starr, Lot 354. Proof-62.

5. Norweb Collection; Smithsonian Institution. Proof-55.

6. Brian Greer; Larry Briggs; David Davis. EF.

7. Mike Sherrill. VF+.

8. S. Kubacki; Brian Greer; Mike Sherrill; Louis Scuderi. G/AG.

Although we don't normally publish such information, the following may serve as a guide to value, based on notes in Russ Logan's copy of the IDime Book:I

The finest known Bareford example sold for $85,000 in 1990.

A Proof-65 example in Auction '89 realized $46,000.

This example sold for $18,000 in 1992.

Stack's sold a "Proof-60" (listed above as Proof-63) in June 2000 for $20,000.

An EF-40 example traded hands privately in 1997 for $10,000.

An AG-3 coin sold privately in 1997 for $3,500.