1865-S 10C MS65+ Certification #06406784, PCGS #4642

One of the undeniable highlights of the collection, this remarkable coin carries a distinguished pedigree stretching back decades. It last appeared publicly as part of the celebrated Lemus Family Collection (Stack's, October 2005, lot 641), where the cataloger could hardly contain their admiration, noting the essentially mark-free surfaces, ultra-deep and unencumbered luster, and a formidable strike draped in enticing delicate gold on both sides. The few trivial toning specks on the obverse were deemed scarcely worth mentioning. The cataloger went so far as to declare it in all likelihood the finest known, observing that full Mint State examples of this date could nearly be counted on one hand, and that true Gems were simply unheard of. Offered raw in 2005, the coin realized an astonishing $40,250 — a testament to its extraordinary quality even without third-party certification. It was subsequently graded MS65 by PCGS before resurfacing nearly a decade later in the Gene Gardner Collection. The pedigree extends further still: lot 565 in the RARCOA Session of Auction '86, and before that, the Bishoff Collection via RARCOA's Session of Auction '85, lot 113.

Ron Guth

The 1865-S Dime is a relatively common date in low grade but it is a true condition-rarity above Very Fine and especially in Mint State.  The reason for the dearth of Uncirculated examples is unknown, but it is typical for remote mints to have lower populations of high-grade coins.  Mint State examples rarely appear on the market and they are always warmly welcomed when they do.  The finest example of which we are aware is a single PCGS MS65+.

Seated Liberty Dime expert, Gerry Fortin, has identified five different die combinations for this year, all of which are Rarity 4 or higher.