LOT Old Heritage Auctions  /  2008 April Rosemont, IL (CSNS) US Coin #1104  / 

2500

1871-CC $20 MS64 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:350,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1871-CC $20 MS64 NGC
<B>1871-CC $20 MS64 NGC.</B></I> In 1988, David Akers described this coin as a "unique Choice Mint State" example, the finest known specimen, and "truly a one-of-a-kind item." Nothing has changed, and today this piece remains the only Choice Mint State piece, an amazing NGC certified MS64 example. The finest that PCGS has ever certified is just AU55, and only five coins have been NGC certified as MS60 or finer, including this coin, two MS61 pieces, and two MS60 examples.<BR> The Carson City Mint began operations in 1870, in response to demand for a second Western Mint to handle the incredible amounts of gold discovered in the region. During the first year, the new Mint produced quarters, half dollars, dollars, half eagles, eagles, and double eagles. Production totaled 92,087 coins with a total face value of $214,386.50. The next year saw the addition of dimes, and a nearly triple the previous year's production, with 232,558 coins minted, amounting to $615,523.50 face value.<BR> <BR><B>The Goe Commentary</B></I><BR> Rusty Goe, author of <I>The Mint on Carson Street,</B></I><B> </B></I>one of our favorite numismatic references, comments about the 1871-CC twenties:<BR> "Gold deposits had increased more than 800% at the Carson Mint between 1870 and 1871, though less than half of the gold bullion was returned in coin form, as miners requested equal amounts in the form of bars. This kept mintages lower, although double eagle production rose by nearly 390%.<BR> "It is believed that the largest percentage of double eagles minted in Carson City during the first few years of operations remained in Nevada, at least for a while. Years later, quantities of GÇÿCC' $20 gold pieces made their way to foreign lands as export demand increased. The early GÇÿCC' issues that did indeed circulate locally acquired heavy bagmarks and surface damage, greatly marring their appearance.<BR> "Of the surviving 1871-CCs extant, few are inspiring, although there are several AU-55 and AU-58 examples which possess higher than average eye appeal, and two Uncirculated specimens in particular stand head and shoulders above the rest, especially one that is graded by NGC as an MS-63." <BR> The MS63 coin Goe mentions is the same coin we are now offering, currently certified MS64.<BR><BR><B>Condition Census</B></I><BR> Doug Winter included a Condition Census for each issue in <I>Gold Coins of the Carson City Mint. </B></I>In addition to this piece, he recorded a single MS61 coin, five pieces tied at AU58, and four others graded AU55.<BR><BR> This example is sharply struck with every design element boldly defined. It is sharper than most contemporary double eagles from any mint. The surfaces of this piece are amazing, entirely free of bagmarks, and entirely unlike the usual example. Both sides have remarkable satiny luster with full mint brilliance, the fields faintly reflective.<BR><BR><B>Coin Engraver:</B> James B. Longacre<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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