1849 $10 Moffat & Co., TEN D. MS(PCGS#10249)

February 2026 Showcase Auction - The James A. Stack, Sr. Collection Part II

Auctioneer

Stack's Bowers

Lot Number

23051

Grade

AU50+

Price

78,000

Lot Description

Beautiful deep yellow gold surfaces show abundant undertones of rose, olive, violet, and pastel blue. Sharp and appealing on both sides, with a strong and well centered strike. Light hairlines are visible on both sides, along with a scattering of marks. A rim nick atop the reverse is noted above R of CALIFORNIA. An area of shallow abrasions is well hidden between the arrowheads and the rim at lower right reverse, and there is a short, criss-cross abrasion between the bun and star 9. The visual appeal is excellent, particularly compared to the processed and washed-out examples that sometimes turn up in modern auctions.<p><p>The TEN D. reverse is the rarer type of 1849 Moffat $10s, more elusive than the TEN DOL. even though the TEN D. indication of value made that variety more similar to the $10 eagles then in circulation. According to Kagin and McCarthy "the 1849 $10 Moffat 'TEN D.' appears to be the last variety of eagle struck by Moffat & Company in 1849." They offer an estimate of 50 to 60 known, of which 17 were found among the treasures of the <em>S.S. Central America</em>. There are two different TEN DOL. reverse dies, each of which is individually somewhat scarcer than this one, making this an ideal choice for type collectors.<p><p>Moffat & Company started striking their coins in late summer 1849, producing $5 and $10 coins from dies by engraver Albert Kuner. Their high profile operation was prolific, but their coins circulated widely for many years, leaving most survivors quite worn today. High grade examples are elusive, as are choice examples in any grade. CAC has stickered only two 1849 $10 with the TEN D. reverse; in contrast, eight examples with then TEN DOL. reverse have received CAC approval.<p><p>A note on the accompanying envelope indicates this was acquired on July 30, 1945 for $102.50. This piece may have come with the group of territorials from the Hillyer Ryder Collection that Mr. Stack acquired from Wayte Raymond, or may have come independently of them.<p><p>We have not offered an example of the 1849 Moffat $10 with TEN D. reverse since 2011, and we haven't offered a specimen graded EF or better since 2006. The last time we offered an example graded higher than this was in 2004, when an NGC AU-58 brought $22,425. This piece has superior eye appeal to that coin, despite the lower grade. A specialist searching for an example finer or prettier than this may have another 20 years of searching ahead. This particular coin has been off the market for over 80 years.