LOT Heritage Rare Coin Galleries  /  2006 November Signature Coin Auction #420  / 

2369

1870-CC $10 XF45 NGC. In his 2001 reference Gold Coins

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1870-CC $10 XF45 NGC. In his 2001 reference Gold Coins
<B>1870-CC $10 XF45 NGC.</B></I> In his 2001 reference <I>Gold Coins of the Carson City Mint,</B></I> branch mint gold expert Douglas Winter states,<BR><BR> "Six Carson City eagles have lower mintage figures than the 1870-CC, but this is still clearly the rarest eagle from this mint. It is also the rarest Carson City eagle in terms of high grade rarity. At one time, in fact, I regarded this as the single rarest gold coin from this mint; eclipsing even the more famous (and considerably more expensive) 1870-CC double eagle. This coin's indisputable rarity and its status as the first gold issue struck at the Carson City mint should make it one of the most desirable 19th century United States gold coins. Yet this is a curiously overlooked and, in my opinion, undervalued issue."<BR><BR> The mintage for the 1870-CC is 5,908 pieces, more than three times that of the 1879-CC. But the 1870-CC remained in circulation for nearly a decade longer, and since no one in the region collected eagles by date and mint at the time, examples were decimated until only a few dozen remained. NGC (10/06) has certified 28 pieces across all grades, some of which presumably represent resubmissions. This is slightly more than the 1870-CC double eagle, which has an NGC census of 25 pieces, but the figures are close. Not as close are the <I>Coin World Coin Values,</B></I> which are $45,000 for the 1870-CC eagle, compared with $275,000 for the 1870-CC double eagle. This data supports Winter's opinion of the 1870-CC eagle as undervalued.<BR> The present piece has less actual wear than expected for the XF45 grade. The strike is slightly soft on the hair curls near Liberty's ear, but only minor wear is noted on the eyebrow, nostril, and bust truncation. The subdued straw-gold surfaces retain noticeable luster, about the stars, legends, hair, and plumage. No marks are individually significant, and none are worthy of mention even to provide a pedigree reference. Given the immense popularity of Carson City coinage and the rarity of the 1870-CC eagle, the importance of this relatively sharp and untroubled example needs no further elaboration.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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