1873-CC 25C NO ARROWS
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Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
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It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
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Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
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For many years, it was believed that only three examples were known of the No Arrows '73-CC. However, a couple of circulated pieces have surfaced in the past few years bringing the number extant today to 5. This piece is the second finest known, and is also the ex: Norweb coin. Apparently little was known about the rarity of this date from the first appearance of one in an Edward Cogan auction in May, 1878 until the time of the dispersal of Fred Boyd's collection (the so-called World's Greatest Collection) in 1945. That coin, which was purchased by Louis Eliasberg, was just said to be an extreme rarity. Below is a roster of the five known specimens:
1. U.S. Mint; A.L. Snowden; J.W. Haseltine; J.K. Nagy; William H. Woodin; H.O. Granberg; Max Mehl's 54th Sale (7/19), lot 358; F.C.C. Boyd; The World's Greatest Collection (Numismatic Galleries, 1945), lot 378, where it realized $725; Louis Eliasberg; Eliasberg Collection (Bowers and Merena, 4/97), lot 1503, where it realized $187,000; Bolen Collection (Heritage, 4/99), lot 5926, where it brought $92,500. Certified as MS 62 by PCGS.
2. John Swan Randall Collection (Ed Cogan, 5/1878), lot 795, where it brought 35 cents; Browning Collection; James A. Stack Collection (Stack's, 1975), lot 136, where it brought $80,000; William Grayson of B&B Coins; 1979 NASCA London Sale, bought back by the consignor; Metropolitan New York Sale (1980), lot 519, brought a reported $205,000; Bob Riethe and Greg Holloway. Currently in an NGC MS 66 holder.
3. John Haseltine; unknown intermediaries; H.M. Budd; Numismatic Gallery; Imperial Coin Company (Benjamin Stack, proprietor); Mrs. R. Henry Norweb from Imperial on July 24, 1954; Norweb II (Bowers and Merena, 3/88), lot 1647, where it realized $88,000; several dealer intermediaries; William Greene; Wes Rasmussen Collection (Superior, 2/98), lot 2038, where it brought $209,000; the present coin, from the Nevada Collection..
4. Abner Kreisberg, currently in a PCGS Very Fine holder.
5. Recently discovered circulated (unstated grade), shown by Leon Hendrickson to Larry Briggs, who confirmed its authenticity. Described in an article in the October 29, 1996 issue of Numismatic News.
The coin has thick mint frost that is overlaid on each side by scattered violet and lilac toning. Well struck in most areas, there are no distinguishing abrasions on either side of this impressive piece. The mintmark is small and widely spaced and the right C has the diagonal scratch within that is diagnostic of all genuine examples. An extreme rarity not only among quarters, but one of the scarcest and most desirable of all regular issue United States coins. (NGC ID# 23UW, PCGS# 5486)
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