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Lot
3775

1873-CC T$1 MS64 PCGS. The first Trade Dollar from the Carson City Mint, the '73-CC was produced to the extent of just 124...

2005 September Long Beach Signature Auction #384

 
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Auction Ended On: Sep 23, 2005
Item Activity: 8 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Elusive 1873-CC Trade Dollar, MS64 PCGS
1873-CC T$1 MS64 PCGS. The first Trade Dollar from the Carson City Mint, the '73-CC was produced to the extent of just 124,500 pieces. The first 2,580 coins were paid out to local depositors, nearly the entire subsequent mintage ending up in China, where they saw heavy use and were frequently chopmarked. Needless to say, circulated representatives are quiet scarce, and Mint State coins, particularly those in high grades, are rare. A total of about 230 pieces have been seen in all grades by PCGS and NGC combined (8/05). Of these, about 40 are in the lower grades of Mint State (MS60 to MS62). Seventeen examples have been graded MS63, and just seven MS64. A mere two pieces have been certified Full Gem. Of course, it must be realized that several of these coins are likely resubmissions.
The rarity of the 1873-CC in Mint State grades is also apparent from a review of auction sales over the past 20 or so years. Our records indicate that 25 Uncirculated specimens have made appearances through the major auction houses over the past 20 years or so. Prior to the current sale, only one example was graded MS64, with not one piece grading higher. Only seven examples were graded MS63.
David Bowers, in his 1993 Silver Dollars and Trade Dollars of the United States, writes that no known hoards of significance in Mint State are known. He further notes that, in the 1970s, World-Coin Investments had an estimated five pieces.
The present Near-Gem we offer here displays silver-gray surfaces with subtle undertones of ice-blue color. A few wisps of light tan are scattered about, especially around the borders. The design elements, while generally adequately struck, reveal some minor weakness on Liberty's head, in the adjacent star centers, in the ribbing of the leaves in Liberty's outstretched hand, on the eagle's left claw, and at the very tops of the wings. The surfaces exhibit glowing luster, and just a few minute marks on Liberty's left arm and in the adjacent field, and a spindly luster graze at the lower reverse border. Population: 3 in 64, 1 finer (8/05).(#7032) (Registry values: N7079) (NGC ID# 252X, PCGS# 7032)

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