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Lot
2664

1873-CC $1 MS61 NGC. Mint State examples of this date are extremely rare and highly desirable...

2006 July Dallas, TX Coin Signature Auction #407

 
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Auction Ended On: Jul 8, 2006
Item Activity: 10 Internet/mail/phone bidders
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Description:
Impressive Mint State 1873-CC Seated Dollar
1873-CC $1 MS61 NGC. Mint State examples of this date are extremely rare and highly desirable. Just 2,300 examples were coined early in the year, prior to legislation intended to halt production of silver dollars. Although the Coinage Act was passed in February 1873, it did not take effect until April 1, thus the 1,300 Carson City dollars struck during the month of March were legally issued. Dave Bowers estimated that only 750 to 1,000 examples out of the 2,300 coin mintage actually made it out of the Mint. The silver dollar had been the standard for much of the time that the United States Mint was operative, with the exception of the years from 1804 to 1835. That standard was discontinued in 1873, but it would be a short absence, as the silver dollar returned in 1878, and in larger quantities than ever before.
How many coins does it take to make a hoard? A popular story relates that a building was torn down in Carson City in 1973, and that it had been built in 1873. This story suggests that the cornerstone, containing the usual mementos from the time, included three Mint State 1873-CC Seated dollars. One of the three was sold at the 1973 ANA convention to dealer Fred Sweeney, and a second was sold in 1977. Whereabouts of the third piece remain a mystery. Could this be the third? And, is three coins enough to be a hoard?
This impressive Mint State example has dusky gray toning over pale golden-brown color. The surfaces are fully lustrous with satiny fields. A few small marks and hairlines are present, and expected for the grade. The design elements on both sides are sharply defined on this well-struck piece. The exact Condition Census for this issue is not known, although there are probably not more than a dozen Mint State examples of this date in existence. Census: 3 in 61, 2 finer (6/06).(Registry values: N10218) (NGC ID# 24ZN, PCGS# 6972)

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