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Lot
3255

1874-CC 10C Arrows AU55 NGC....

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

 
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Auction Ended On: Mar 8, 2012
Item Activity: 9 Internet/mail/phone bidders
2,247 page views
Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
Valuable Choice AU 1874-CC Arrows Dime
Seldom-Seen, Especially So Fine
1874-CC 10C Arrows AU55 NGC. The 1874-CC Arrows dime was made in the meager quantity of only 10,817 coins, the last of the lowest-mintage Carson City dime issues and the key to the Seated Liberty set. Rusty Goe writes in his 2003 reference The Mint on Carson Street concerning the issue: "Throughout the decades the annual rare coin auction circuit has traditionally offered only one 1874-CC dime per year, and some years not even one. Buyers are lined up ready to compete at every given opportunity." Goe notes that collector extraordinaire Louis Eliasberg only managed to have a VG8 coin in his collection. With the availability of Internet auctions records now widespread, we know of six auctions of 1874-CC dimes from January 2011 to February 2012.
Most recently, a Fine 15 PCGS representative brought $16,100 in the February 2012 Official Long Beach Signature Auction, presented by Heritage. A Good 6 PCGS example sold in our FUN Signature (Heritage, 1/2012), lot 5487, for $7,475, and an AG3 piece brought $4,313 in our September Long Beach auction, lot 3342. A VG8 PCGS piece realized $14,950 in our 2011 FUN Signature, lot 5483, yet a Fine 12 PCGS coin realized only $12,650 in the Stack's-Bowers Chicago ANA sale (8/2011), lot 8376, despite a Good 6 PCGS coin realizing $10,350 for the same firm just four days earlier in the Pre-ANA auction as lot 712.
Those prices, of course, will come off as chicken-scratch compared to what this AU55 NGC example, our third 1874-CC dime in as many months, will bring. Only lightly worn and still luminous, this well struck example has unusual surface texture under gold-to-green and blue patina. The texture is reminiscent of the so-called "unalloyed" Carson City dimes from earlier years that were struck from less-processed silver straight from the Comstock mines. An unusual coin, an undoubted condition rarity, and undeniably important. Census: 1 in 55, 1 finer (2/12).(Registry values: N7079) (NGC ID# 23BL, PCGS# 4669)

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