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

2306

1889-CC $1 MS64 PCGS

Currency:USD Category:Coins & Paper Money Start Price:37,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1889-CC $1 MS64 PCGS
<B>1889-CC $1 MS64 PCGS.</B></I> The 1889-CC is the king of the Carson City Morgan dollars. The 1881-CC and 1885-CC have lower mintages, but are far more plentiful in Mint State, principally due to the GSA hoard. Only a single 1889-CC was present in the GSA holdings. The 1892-CC and 1893-CC also had just one representative in the GSA sales, but are available in Mint State compared to the 1889-CC.<BR>The reason for this is a hoard of Carson City dollars released in 1955. According to the December 1955 Numismatist, The Montana Bank in Great Falls, Montana received a routine shipment of silver dollars from the Minneapolis Federal Reserve Bank, which contained 1,000 1893-CC dollars. The 1955 Treasury dispersal also included 50 bags (per dealer Steve Ruddel) of the 1892-CC.<BR>Some 1889-CC dollars were paid out from the Treasury between the 1920s and 1950s, but most pieces were probably released into circulation in 1889. The Carson City Mint had ceased coinage in 1885, and surplus dollars were likely shipped by rail to San Francisco. Silver dollars may have scarce in Nevada by 1889, when changes in political winds allowed the Mint to resume production.<BR>The typical 1889-CC dollar has XF sharpness but has been cleaned or is otherwise impaired. Examples are found in all circulated grades, and in fact PCGS has certified four pieces as Fair 2. Even low grade examples are coveted by collectors, due to the allure of the Carson City Mint. The 1889-CC becomes very scarce in Mint State, and is essentially uncollectible above the MS64 grade.<BR>PCGS has certified only two such pieces, an MS65 and an MS68.<BR>The present MS64 example is highly attractive for the grade. The cartwheel luster is unbroken, and the light gold toning only affirms the originality. Even the cheek lacks noticeable marks, and the central strike is good, with only minor incompleteness on the hair above the ear. A trace of a fingerprint on the reverse at 6:30 is of no importance. This high end near-Gem is certain to be cherished by its fortunate next owner.<BR><I>From The #3 PCGS 'Mile High' Registry Set of Carson City Morgan Dollars.</B></I><BR><BR><B>Coin Engraver:</B> George T. Morgan<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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