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Lot
8764

1873-CC $20 MS63 PCGS....

2004 November Palm Beach, FL Signature Sale #358

 
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Auction Ended On: Nov 5, 2004
Item Activity: 7 Internet/mail/phone bidders Number of Bidders
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Description:
Important Select 1873-CC Double Eagle, The Single Finest Certified
1873-CC $20 MS63 PCGS. Ex: Texas Collection. The ultra-rare 1870-CC Double Eagle garners more headlines, but the other Carson City issues from the early 1870s are also very difficult. Mintages reached 26,900 pieces in 1872, then fell slightly to 22,410 pieces in 1873. It was not until the 1874-CC that production achieved six figures, and it is the 1874-CC to 1876-CC issues that usually represents the Type Two design within Carson City type sets.
The Philadelphia Mint introduced the Open 3 logotype early in the 1873, as a result of complaints that the Closed 3 too closely resembled the digit 8 to the naked eye. While the 1873 Open 3 Twenties are common relative to their Open 3 counterparts, the opposite is the case with the 1873-S, since the new dies had to journey from Philadelphia to San Francisco before they could be put into production. The new logotype dies must have arrived in Carson City late in the year or not at all, as all known 1873-CC Twenties feature a Closed 3.
A well struck piece, this lovely Double Eagle has vibrant cartwheel luster, and relevant blemishes are limited to a trio of separated marks on the cheek. The reverse rim near 7 o'clock is moderately abraded, however, this is far from the focal point of the coin. Limited in mintage to begin with, Carson City Twenties were regarded strictly as bullion in the old west, and it is nearly miraculous for a piece to have been set aside upon issue and never circulated. Gold coins were not collected by mintmark until the 20th century.
Although it is hard to find in all grades, the 1873-CC is extremely rare in Mint State. As of (9/04), only four pieces have been certified by PCGS in Uncirculated grades. Two of these pieces are MS60, another is MS62, and the present piece is single highest graded example. The importance of this coin to the devoted Carson City or Double Eagle specialist cannot be exaggerated. In his 2001 reference Gold Coins of the Carson City Mint, noted branch mint gold specialist Douglas Winter lists the present piece as #1 in his condition census for the 1873-CC. The pedigree is given as "Texas Collection via Universal Coin and Bullion, 1998, ex: U.S. Coins (Kenny Duncan.)" Population: 1 in 63, 0 finer (10/04).(#8968) (Registry values: N10218) (NGC ID# 26AJ, PCGS# 8968)

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