1891-CC $20 MS62 NGC....

Description

1891-CC Liberty Head Double Eagle, MS62
Second Rarest CC-Mint Twenty

1891-CC $20 MS62 NGC. Variety 1-A, the only known variety of the date. The Carson City Mint was actively engaged in producing eagles and half eagles in 1891, and the storied facility could spare the resources for only a token mintage of double eagles. To quote Doug Winter in Gold Coins of the Carson City Mint:

"Unlike the Carson City half eagles and eagles of this date, the 1891-CC double eagle is a rare, low mintage issue. In fact, its original production of just 5,000 pieces is the second lowest for any Carson City double eagle, trailing only the 1870-CC."

Winter estimates a surviving population of 150-200 pieces for the issue, with only 10-15 survivors in Mint State. Most examples seen are in circulated grades, and any MS62 graded coin would be a candidate for Condition Census. To date, NGC has certified 10 examples in MS62, with only one finer; while PCGS has graded four specimens in this grade, with a single piece finer (3/10).
Collecting mintmarked coins in general, and double eagles in particular, was not popular with collectors of the early 1890s. As a result, 1891-CC twenties are seldom encountered in auction catalogs of the period. While collecting large denomination gold coins did not become popular until the 1940s, the rarity and desirability of the 1891-CC caused a few examples to be showcased in earlier offerings. One such appearance was in the Wendell C. Foster Collection (Thomas Elder, 6/1935), lot 2659, "1891. C.C. Mint. Fine. One of the rarest of this mint. Only 5,000 struck." Elder featured an unusual number of double eagles in his auction catalogs of the mid-1930s, most of them originally surfacing in the famous Baltimore Hoard.
The present coin is an attractive specimen with bright, glittering mint luster and semiprooflike fields. The pleasing orange-gold surfaces are accented with streaks of coppery color on the reverse. Striking details are sharp, except for some incomplete obverse star radials. The surfaces are lightly abraded for the grade, with no large or detracting marks.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26C3, PCGS# 9017, GSID# 9949)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Melt Value: $1,129.07
Gold Spot: $1,167/oz (04-29-2010)
Mintage: 5,000

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.

View Certification Details from NGC