LOT Old Heritage Auctions  /  2007 November Houston, TX US Coin Sign. #370  / 

60790

1878-CC T$1 MS61 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:6,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1878-CC T$1 MS61 NGC
<B>1878-CC T$1 MS61 NGC.</B></I> The 1878-CC is the most popular rarity among business strike Trade dollars, largely due to its mintage, which by far is the lowest of the series (97,000 pieces). Moreover, according to mint records, 44,148 undistributed Trade dollars were melted on July 19, 1878. If all these were dated 1878-CC, as is generally assumed, a net mintage of 52,852 was available for distribution.<BR> Paul Green, in a July 12, 2005 <I>Numismatic News</B></I> article entitled "1878-CC Trade Dollar Was Heavily Melted," brings in an additional factor to help explain the issue's rarity, saying "... the Trade dollar was unpopular and over the next few years, it is likely that a large number of that (net) mintage was destroyed, potentially making it even tougher than the already low mintage." Whatever the factors underlying its rarity, NGC and PCGS have graded fewer than 200 '78-CC Trade dollars in all grades combined, of which less than 50 are Mint State.<BR> The MS61 survivor offered in this lot exhibits satiny surfaces that yield a pleasing cameo-like effect on both sides, with wisps of reddish-tan and sky-blue color at the peripheries, and occasional blushes of light tan-gold in the fields. The design elements are uniformly well struck, with only portions of Liberty's hair revealing minor softness. Some light handling marks are visible under magnification, slightly more so on the obverse, but none are pronounced enough to detract from the coin's overall eye appeal. Census: 9 in 61, 15 finer (10/07).<BR><BR><B>Coin Engraver:</B> William Barber<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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