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Lot
4264

1873-CC $20 MS61 PCGS Secure. Variety 1-A....

2012 March 8-11 US Coin Signature Auction - New York #1168

 
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Auction Ended On: Mar 9, 2012
Item Activity: 10 Internet/mail/phone bidders
2,010 page views
Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
Mint State 1873-CC Twenty Dollar
Only Two Finer at PCGS
1873-CC $20 MS61 PCGS Secure. Variety 1-A. Normal Date. Coming from a mintage of 22,410 pieces in 1873, this Carson City double eagle is one of a handful of survivors today certified as Mint State. Even though the 1870-CC twenty dollar garners the lion's share of attention in auction offerings and references, the 1871-CC through 1873-CC issues are also quite elusive in the higher grades (AU to Mint State). The 1870-CC twenties were produced to the extent of 3,789 pieces, and the mintages for the 1871-CC and 1872-CC increased to 17,387 and 26,900 coins, respectively, before falling back to 22,410 examples of the 1873-CC.
All of the 1873-CC double eagles were produced in the Closed 3 or Close 3 style, which preceded the Open 3 format. The Closed 3 style indicates that production occurred early within the year. Rusty Goe writes in The Mint on Carson Street:

"Gold deposits reached a peak of approximately $5 million at the Carson Mint in 1873. Although gold coin mintages were barely 10% of that total in 1873, large portions of the deposits would not be processed until 1874, when gold coin production increased by 500%."


Goe further points up the fact that "although the Carson Mint received only a small share of the gold bullion from the Comstock [Lode], massive volumes of it were shipped to the San Francisco Mint as that facility became known for its double eagle production, and some was also shipped to the Philadelphia Mint."
The present coin, certified MS61 by PCGS, is one of four submissions in that grade at PCGS, including possible duplicates, and surpassed by one coin each in MS62 and MS63 (2/12). The luster is a bit thin but nonetheless complete in the obverse fields, with original orange-gold surfaces throughout both sides. The numerous small abrasions that dot each side explain the grade, but none of them merit individual mention. This coin may represent one of the nicest obtainable examples, as so few surpass it at PCGS.(Registry values: N7079) (NGC ID# 26AJ, PCGS# 8968)

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