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1870-CC $20

1999 ANA Signature Sale #208

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Auction Ended On: Aug 13, 1999
Item Activity: 4 Internet/mail/phone bidders
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Location: Chicago, IL
1870-CC XF 45 Double Eagle, A Widely Acclaimed Rarity
1870-CC $20 XF 45 PCGS. The first double eagle issue struck at the Carson City Mint and a spectacular rarity that is among the most widely acclaimed issues in the entire series of Liberty double eagles. It is surpassed in overall rarity only by the ultra-rare 1861 Paquet, the 1856-O, and the business strikes of 1882 and 1886, but none of these important issues garner more attention than is generated by the appearance of a '70-CC. Only 3,789 pieces were originally produced and reliable estimates place the number of survivors in the neighborhood of 45 pieces. From the standpoint of condition rarity, the '70-CC ranks number one in the Liberty double eagle series, with most known examples being only Fine or VF with heavily abraded surfaces.
The example offered here is one of perhaps a dozen or so pieces at the XF or better grade level, although population data indicates a slightly higher figure. The medium gold surfaces display tinges of semi-prooflike luster in the protected areas and are typically less well defined on the left side of the obverse, being struck from the Winter-Cutler 2-B die variety, identifiable by the placement of the mintmark between the N and T in TWENTY. Abrasions are fewer and less serious than is generally associated with the issue, but a prominent planchet depression can be seen within the circle of stars on the reverse, by far the coin's most identifiable feature. Rare issue gold comes our way at an inordinately high rate, far more often than in the real numismatic world (coin shops, local and regional coin shows, etc.), but the appearance of a high-end XF 1870-CC twenty is a major offering in anyone's world. Population: 5 in 45, 2 finer (6/99).
Consigned by The Underwriters and Insurers at Lloyds of London and to be sold without reserve. (NGC ID# 26A8, PCGS# 8958)

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