LOT #3862 |
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1870-CC $10 VF30 PCGS. Variety 1-B....
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Sold on Nov 21, 2024 for:
$84,000.00
Bid Source: Internet bidder
Description
1870-CC Liberty Ten, VF30
First Year Branch Mint Key
Rarest Carson City Eagle
1870-CC $10 VF30 PCGS. Variety 1-B. After a few delays, the
Carson City Mint commenced coinage operations in January 1870, but
gold bullion deposits were slow to materialize. The new Mint did
not have sufficient funds to pay depositors for their holdings
right away, so depositors had to wait until their gold was
converted into coinage before they were reimbursed. This delay, and
other factors, caused many Comstock miners to ship their gold to
the San Francisco Mint for coinage, instead of entrusting their
bullion to the nearby Nevada mint. Accordingly, the first Liberty
eagles were not delivered until February 14, and small deliveries
followed throughout the year, but only 5,908 examples were
eventually struck.These coins were struck for circulation and readily distributed into local commerce, where they suffered much wear and attrition over the years. The 1870-CC is the rarest ten dollar gold piece from the famous Western facility, both in absolute terms and with respect to high-grade rarity. PCGS CoinFacts estimates the surviving population at approximately 45-60 specimens in all grades. Neither of the leading grading services have certified any examples in Mint State grades, with the finest known being a single AU58 specimen at PCGS (10/24). Prominent gold specialist Doug Winter considers the 1870-CC an underrated issue, curiously overlooked and undervalued.
Early auction appearances were few and far between, but one early appearance was in lot 80 of the B.W. Smith Collection (B. Max Mehl, 5/1915):
"1870-CC First date of the $10 gold piece of this mint. Very Good, nearly Fine. Very rare. Seldom offered."
The lot realized $20, a fairly strong price for the time. Prices have increased exponentially in recent years, as collector awareness of the rarity of the issue increased. Recent sales include the VF35 PCGS example in lot 4278 of the Long Beach Signature (Heritage, 2/2018) that realized $66,000.
The present coin is an impressive VF30 example that shows moderate wear on the well-detailed design elements, but much interior detail remains intact. The pleasing orange-gold surfaces are lightly abraded, outside of a single long scratch in the left obverse field. The overall presentation is quite attractive for this landmark Western gold rarity. Housed in a green label holder. Population: 4 in 30, 39 finer (10/24).(Registry values: N4719)
Coin Index Numbers: (NGC ID# 264U, PCGS# 8658, Greysheet# 9471)
Weight: 16.72 grams
Metal: 90% Gold, 10% Copper
The Confident Carson City Coin Collector
by Rusty Goe
The Carson City Mint’s celebrated legacy — replete with landmark achievements, setbacks, mysteries and tall tales — is covered in exacting detail in Goe’s three-volume set.
by Rusty Goe
The Carson City Mint’s celebrated legacy — replete with landmark achievements, setbacks, mysteries and tall tales — is covered in exacting detail in Goe’s three-volume set.
Auction Info
2024 November 20 - 24 US Coins Signature® Auction #1378 (go to Auction Home page)
Auction Dates
November, 2024
20th-24th
Wednesday-Sunday
Bids + Registered Phone Bidders: 17
Lot Tracking Activity: N/A
Page Views: 706
Buyer's Premium per Lot:
20% of the successful bid per lot.
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