1870-CC $20

Description

The Rare and Coveted 1870-CC Double Eagle--A Low-End Condition Census Example

1870-CC $20 --Graffiti--ANACS. AU Details, Net XF 40. Simply put, the first-year 1870-CC is the rarest double eagle produced at the Carson City Mint. Only 3,789 pieces were delivered, and a mere 35-45 coins (per Winter, 1994) are believed extant. These coins are not evenly distributed throughout the grading scale. Rather, most examples are concentrated at the VF level of preservation, and heavily bagmarked surfaces are the norm rather than the exception. Coins that grade XF are rare, and the four AU 50 examples known to NGC and PCGS are the finest certified 1870-CC double eagles available to today's specialists (11/00).
The definition on the obverse of this coin appears deceptively soft for the grade. Judging by the reverse, which is always sharper than the obverse, this coin displays enough remaining detail to justify an AU 50 grade. There are also traces of original luster, and the fields display a semi-prooflike appearance as the coin rotates beneath a light. The number of handling marks on both sides of this coin are indicative of circulation on the frontier. The surfaces are scuffy, and initials have been scratched into the lower right obverse field and the reverse field above the eagle's head. A scrape in the obverse field inside stars 1-3 is also worthy of mention. Despite its shortcomings, this coin's rarity is sure to inspire spirited bidding. We last offered an 1870-CC double eagle as lot 8220 in our Chicago ANA Sale. That coin, graded XF 45 by PCGS and consigned by The Underwriters and Insurers at Lloyds of London, realized $92,000.

Coin Index Numbers: (NGC ID# 26A8, PCGS# 8958, GSID# 9911)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 3,789

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.