LOT Old Heritage Auctions  /  2007 Sept. Long Beach Signature Coin Auction  / 

3838

1877-CC $20 MS62 PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:37,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1877-CC $20 MS62 PCGS
<B>1877-CC $20 MS62 PCGS.</B></I> In recent decades, many 1877-CC double eagles have found their way back into the United States from old, overseas holdings. On the surface, the recovery of long lost specimens of this elusive issue sounds like great news for collectors. In reality, it is bitter-sweet as the vast majority of the repatriated 1877-CC twenties are circulated examples or, at the very least, too heavily abraded to be deemed Mint State. Large gold pieces that are transported in canvas bags over thousands of miles could only be negatively impacted in terms of condition. The NGC <I>Census Report</B></I> and the PCGS <I>Population Report</B></I> paint a clear picture on the absolute rarity of this issue in Mint State grades, as neither service has graded a single example beyond the MS62 level, and the combined number of coins graded as MS62 total only 15 pieces (8/07). One can safely assume that the collective 15 MS62 examples reported by NGC and PCGS is artificially high; the direct result of the same coin being submitted more than once in order to achieve a higher grade opinion. <BR> Doug Winter in his <I>Gold Coins of the Old West, the Carson City Mint 1870-1893</B></I> shares his observations: "This issue is generally found in Very Fine and Extremely Fine grades. About Uncirculated 1877-CC double eagles are somewhat scarce and most survivors in this grade are no better than average quality AU50s. High-end About Uncirculated pieces are quite scarce, while fully Mint State coins are very rare." Breen, Garrett-Guth, and Bowers, in their respective writings on this series, echo Winter's sentiments. The current example is rare, not only as a date, but more importantly as a conditionally challenging issue. This is a remarkably lustrous coin with flashy, semi-prooflike fields. The peripheries have taken on a deeper red patina and there are a couple of grease stains (as struck) close to star 13. Sharply defined throughout, there are a few small abrasions on the obverse but almost none on the reverse. Census: 7 in 62, 0 finer (8/07).<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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