The New Orleans Collection, presented by Heritage Auctions' as part of its April 22-26 Central States Numismatic Society (CSNS) Convention auction will be accompanied by high-grade 1933 $10 Indian Eagle gold coin.
The 1933 $10 MS65 PCGS CAC from The New Orleans Collection, the fabled Final-Year Indian $10 and an historically significant melt rarity, is already creating significant collector buzz (and bidding) before the auction.
"There are many key dates in 20th century gold series, but while some are the result of low mintage figures and high attrition," Greg Rohan, President of Heritage Auctions, "there are a few which are rare for the sole reason that they were almost completely obliterated by the stroke of pen."
The gold confiscation order of April 5, 1933, officially known as President Roosevelt's Executive Order 6102, "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.
The Executive Order 6102 was one of the most destructive acts of the United States government in regards to American numismatics, wiping out almost the entire run of 1933 U.S. gold coinage. It is estimated that only 25 to 30 examples exists today. In 20 years Heritage has offered only seven different examples of this incredible melt rarity, with the coins making a collective total of just 10 auction appearances in the Heritage archives. The most recent auction was a $402,500 price realized for an MS64+ PCGS example in 2012. The current Gem example is decidedly superior to that coin in terms of both technical and aesthetic merit.
Source: Heritage Auction.
