David Lawrence Rare Coins announced today the acquisition of one of the finest of (10) ten known examples of the famous 1894-S dime. It is graded PCGS Proof 64 (Branch Mint Proof) and CAC approved for quality and eye appeal.
John Feigenbaum, President of David Lawrence Rare Coins, states that the 1894-S dime “is one of the most significant rarities in the catalog of U.S. coins. It is also of the few major rarities whose manufacture was properly recorded in mint records”. Graded PCGS Proof 64, this specimen is one of the top 3-4 known examples. Feigenbaum adds, “In my opinion, it is the prettiest known example. Period. It’s just gorgeous.” Even more exciting, its pedigree can be traced back to the Mint Director’s daughter, Hallie Daggett.
According to John Albanese, President of Certified Acceptance Corporation (CAC), “The sky might be falling in the bullion markets but the rare coin market was never stronger than 2005-6 when gold spot prices were $500-600 per ounce. Today, we are seeing renewed volatility in bullion prices while major rarities like this 1894-S dime continue to be highly prized by sophisticated collectors and investors.” He adds, “I believe the rarity and desirability of the 1894-S dime to be of similar caliber to the 1804 dollar and 1913 Liberty nickel. It’s a great coin with a great story.”
Known in the Lawrence pedigree as specimen L-4, this is the third 1894-S dime handled by Mr. Feigenbaum and David Lawrence Rare Coins. “We last sold the finest known 1894-S dime, the James Stack coin (PCGS/CAC Proof 66) in July 2007 for $1.9 million by private treaty to John Albanese of CAC. That coin has not changed hands since.”
Feigenbaum has also sold the Daggett-Lawrence specimen (Lawrence-5),now graded NGC Proof 66, in 2002 by private treaty. That coin sold again at Heritage Auctions in January 2005 for $1,035,000, to Laura Sperber of Legend Numismatics, and currently resides in a top collection of US coins.
David Lawrence Rare Coins was an under bidder on this coin in the October 2007 Stacks’ auction. According to Feigenbaum, “(the late) Jack Lee and I both fell in love with this coin at first sight during the lot viewing of this sale. He was a good friend and mentor. We decided to bid together as partners to acquire this coin in that sale, but we were outbid during the auction. Ever since then, I have been in contact with the buyer and was finally given an opportunity to acquire the coin earlier this month.” John continues, “It took me exactly 5 seconds to agree to the price. There was no way I would let this coin slip through my fingers.” John believes the 1894-S dimes are the most legitimate of the major US rarities, as many of the other most celebrated US rarities were struck under dubious circumstances. For example, the first 1804 dollars were struck in 1834. 1913 nickels were unofficially struck with leftover dies. 1884 and 1885 Trade dollars were similarly produced without official documentation. The twenty-four (24) 1894-S dimes, however, were produced to balance the mint ledger that year, and records of their production are included in the annual mint director’s report.
The coin is currently offered for sale by private treaty. Serious parties are invited to inquire with John Feigenbaum at 1-800-776-0560. Images and detailed information are available on the DLRC web site.
Attributed to be one of the original group of coins given by Mint superintendent John Daggett to his daughter, Hallie (along with L-5, L-6 and, possibly, L-9). Sold by Hallie Daggett to coin dealer, Earl Parker between 1949-1954. The ownership chain continues from Parker to Dan Brown; Stacks; Chicago Private Collection; Kagin’s (October 4-6, 1984, Dr. Samual Joseph Gillespie Sale, Long Beach Auction, Lot #4176); Private Collection; Stacks’ Auction ($1,552,500, October 2007, Lot #4921); Private Collection; David Lawrence Rare Coins (April 2013).
Click here for the full Registry of known 1894-S Barber dimes.
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About David Lawrence Rare Coins
David Lawrence Rare Coins, founded in 1979, is an industry leader in the buying, and auction sales U.S. rare coins certified by PCGS, NGC and CAC.
In addition to direct sales, David Lawrence Rare Coins offers two internet auctions each week. Sellers may consign coins or sell directly to DLRC. The company offers products via their website (www.davidlawrence.com), trade shows and on eBay (davidlawrence_auctions).