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Lot
2760

1874-CC 10C Arrows AU50 NGC....

2008 January Orlando, FL (FUN) Signature Coin Auction #454

 
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Auction Ended On: Jan 10, 2008
Item Activity: 8 Internet/mail/phone bidders
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Location:

Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Lot Viewing, Room 220 D, E, F
Auction, Room 230 B

Description:
Elusive Key 1874-CC Arrows Seated Dime, AU50
1874-CC 10C Arrows AU50 NGC. The Brian Greer Complete Guide to Liberty Seated Dimes says of this issue that it is the "unquestioned key to the series (excluding the uncollectible 1873-CC No Arrows). Rare in any grade, and probably a full R6 [very rare] in problem-free condition. Very few mint state pieces exist. Under intense demand and currently bringing well in excess of Trends prices, when available."
Of course, the 1874-CC needs no introduction to the legions of Liberty Seated dime specialists eager to obtain an example. The mintage is recorded as 10,817 pieces, according to Greer all from a single die pair. The obverse arrows slant noticeably upward. The www.seateddimevarieties.com website comments, "1874-CC dimes are rare in all grades and are almost always encountered with surface problems. Extremely rare in Mint State. Always under strong collector demand with problem free examples bringing in excess of trend sheet prices. During 2003 and 2004, there has been a rapid escalation of pricing for problem free 1874-CC dimes. At the 2003 Long Beach Heritage Signature Sale, an ANACS EF45 example brought $28,175 including the 15% buyer's premium. Additionally, at the 2004 Central States Heritage Signature Sale, an NGC F12 example was bid to $13,800 including the 15% buyer's premium." More recently in November 2005, an XF45 NGC piece in one of our auctions brought nearly $30,000, and an AU50 NGC piece in August 2006 brought $37,375.
The same reverse die was used to strike all Carson City dimes from 1871 through 1874. A die crack begins to appear on some 1872-CC dimes and appears on all genuine 1873-CC and 1874-CC pieces. The reverse of this piece shows two die cracks, one through the right branch of the wreath through the ear of corn to the rim at about 2:30, the other from the right ribbon end through the center of the CC mintmark and beyond. The second die crack is the diagnostic found on every genuine example.
Nearly every known 1874-CC dime has some type of surface problem, but this piece has few poststrike impairments. For example, this piece has some minor roughness within the wreath and elsewhere, appearing to be from die rust. The surfaces have intermingled iridescence on both sides with traces of underlying luster. There are only five pieces graded finer at both services combined. Census: 3 in 50, 2 finer (12/07).(Registry values: N7079) (NGC ID# 23BL, PCGS# 4669)

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