1822 10C JR-1 MS(PCGS#38801)

Spring 2019 Baltimore U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

1050

Grade

MS64PL

Price

22,200

Lot Description

Choice Mint State 1822 Dime Rarity Unique PL Designation from NGC 1822 Capped Bust Dime. JR-1, the only known dies. Rarity-3+. MS-64 PL (NGC). This is a particularly rare and inviting example of the key date entry in the Capped Bust dime series. The finish is most significant, both sides with semi-reflective field supporting satiny devices. The obverse is brilliant apart from a blush of pale champagne-apricot iridescence around the periphery, while the reverse exhibits warmer reddish-apricot tinting throughout. Boldly to sharply struck for the type and expectably smooth at the near-Gem grade level. The 1822 dime has long been recognized as the key issue for the entire Capped Bust series. While some 100,000 pieces were reported to have been struck during calendar year 1822, the actual number of 1822-dated dimes produced is likely far fewer. Only one pair of dies is known for the entire issue, therefore making it quite possible that earlier 1821-dated dies were used as long as was feasible into 1822 before utilizing the newer dies. When the definitive work on the subject, Early United States Dimes: 1796-1837, was released by the John Reich Collectors Society in 1984, the authors wrote: "Of the estimated three hundred surviving examples of 1822 dimes, it is interesting to note the division by condition. The authors' best estimate is that there are about ten uncirculated pieces, no more than ten in EF-40 to AU-55 and not many more than 20 in F-12 to VF-30 condition. For whatever reason, the 1822 dimes were well circulated with a surprising number being damaged beyond what might be considered normal wear." This has proven to be a prescient observation more than 30 years later, for the 1822 remains a formidable rarity in Mint State. When an exceptional example like this one appears at auction, it is guaranteed to capture the attention of even the most ardent of dime devotees. NGC Census: just 1 in all grades with a PL designation. PCGS# 38801. NGC ID: 236Z. Click here for certification details from NGC.