LOT Old Heritage Auctions  /  2007 Summer F.U.N. Sig. Coin Auction #442  / 

2947

1878-CC $20 XF45 PCGS.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,125.00 USD Estimated At:1.00 - 1,000,000.00 USD
1878-CC $20 XF45 PCGS.
<B>1878-CC $20 XF45 PCGS.</B></I> Ex: Rainy Day Collection. Garrett and Guth comment that the 1878-CC double eagle is among the rarer Nevada issues and they point out that production of Carson City twenties dropped off sharply this year. But why? There are three principal reasons. First, 1878 was the year of the Bland-Allison Act, and it meant that the mints turned much of their attention to churning out silver dollars, as a virtual flood of silver ore came from the Comstock Lode. Second, the production of gold in the American West was dwindling as the yellow ore became more difficult to mine profitably. Third, the “bimetallism battle” caused by Bland-Allison forced gold coins out of circulation in most parts of the country: the profit motive made the hoarding of gold tempting for anyone who understood the arbitrage opportunities. Gold circulated mainly in the West, where hard money had always been more appealing than paper. Much of the allure of a slightly circulated coin such as this is to imagine what it witnessed. Was it spent for pony supplies at Fort Carson? Did it change hands on the poker tables of Dodge City? If only it could tell us! The surfaces show even wear over each side. Minimally abraded, the coin has lovely rose tinted gold color with an accent of lilac over the highpoints. <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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