A rare $10 gold coin from 1907, one of the 42 examples known to exist, is expected to sell for between US$500,000 and US$550,000—50,000 times its face value—at an upcoming auction in Las Vegas.
The coin, a predecessor of the $10 gold coins officially circulated in 1908, was personally selected by President
according to New Jersey-based Legend Rare Coin Auctions, which will offer the coin on Jan. 27.
“Theodore Roosevelt was unimpressed by the national coin designs in circulation while he was president; the designs were either old or uninspired, or both,” says Laura
founding partner of the auction house.
In 1905, Roosevelt met with American sculptor
Augustus St. Gaudens,
and worked to redesign every denomination, taking inspiration from ancient Greek coinage, she says.
The $10 coin features the head of Liberty on the front, with 13 stars representing the nation’s 13 original colonies around Liberty’s head. The reverse side depicts a Bald Eagle among olive branches.
Over the years, the coin has been in numerous collections. The consignor acquired it about five or six years ago for an undisclosed amount, Sperber says.
The coin will be offered at a live event on Jan. 27at the Bellagio in Las Vegas. Pre-bidding online has hit US$400,000 with five bids placed as of Thursday.