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Lot
30606

1871-CC $1 MS61 NGC....

2014 June 23 The Eugene H. Gardner Collection of US Coins Signature Auction - New York #1213

 
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Auction Ended On: Jun 23, 2014
Item Activity: 5 Internet/mail/phone bidders
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Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:
1871-CC Dollar, MS61
Very Rare in Mint State
Ex: Eliasberg, Clapp
1871-CC $1 MS61 NGC. Ex: Clapp/Eliasberg. A well-pedigreed example of the very rare 1871-CC Seated dollar issue. A mere 1,376 pieces were struck. About two dozen 1870-CC dollars exist in Mint State, due to a higher mintage and first-year local pride saving. But the 1871-CC has about one-tenth the production of its Old West predecessor, and the few Uncirculated pieces were likely set aside for their face value instead of their numismatic significance.

Most collectors during the 19th century paid little attention to mintmarks and considered an 1871 proof as the ideal representative of the date. That attitude finally began to change during the 1890s, when numismatists such as John H. Clapp and Augustus G. Heaton pursued mintmark varieties. By that time, most of the 1871-CC mintage had been melted, and the typical survivor graded XF with problems. In 2003, Carson City authority Rusty Goe estimated just 100 to 125 pieces exist in all grades, with three to four known in Uncirculated condition. These include the James A. Stack, Norweb, and Eliasberg examples.

Population Data (5/14): NGC shows two MS61, one MS63, and one MS64. PCGS lists two MS61 and one MS64.

Heritage Commentary: The Eliasberg Collection is perhaps the most famous of all time. A wealthy Baltimore banker, Louis E. Eliasberg, Sr. attempted a complete date and mintmark collection of U.S. coins, and arguably came closer to that impossible goal than any other individual. He owned all of the famous nonpattern rarities except the 1870-S half dime, discovered after his death. His holding of Seated dollars was complete, by his measure, with the exception of the 1873-S, unknown in any collection.

Provenance: Harlan P. Smith Collection; S.H. and Henry Chapman, 5/1906; John H. Clapp; Louis E. Eliasberg, Sr. Collection (4/1997), lot 2245; Dr. John L. Pellegrini Collection (Heritage, 7/2005), lot 10250; purchased from Chris Napolitano (7/2007).(Registry values: N10218) (NGC ID# 24ZH, PCGS# 6967)

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