LOT #3483 |
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1870-CC $5 XF45 PCGS. CAC. Variety 1-A....
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Sold on Aug 24, 2022 for:
$96,000.00
Bid Source: Internet bidder
Description
1870-CC Liberty Half Eagle, XF45
Coveted CAC Endorsement
Premier Carson City Gold Rarity
1870-CC $5 XF45 PCGS. CAC. Variety 1-A. Ex: Navy Mustang.
Rarity in the Liberty Head half eagle series prior to the Civil War
is embodied by the low-mintage Charlotte and Dahlonega issues.
Among post-war coinage, rarity makes its appearance in Carson City
issues. Among Carson City half eagles there is none more sought
after than the 1870-CC. This inaugural coinage of gold from the
infant Nevada branch mint, with only 7,675 pieces struck, is one of
the biggest "stoppers" in the Carson City gold series across all
denominations, with only its eagle and double eagle counterparts
realistically rivaling or surpassing it in rarity.The rarity and collector perception of the 1870-CC five dollar piece remains little changed from what the late David Akers observed in 1979. In his Analysis of Auction Records, he wrote:
"From the standpoint of rarity according to average grade, the 1870-CC ranks number one in the entire 300 coin Half Eagle series. I have seen fewer of this date than of any other Carson City Half eagle although the 1878-CC had five fewer auction appearances in my survey. The 1870-CC is very rare in any condition and when available, the typical example is only Fine or VF. I have seen several EF's and one specimen that I graded a full AU but none that could reasonably be called uncirculated."
Today, two Mint State pieces are known, graded MS61 and MS62, respectively. Yet, the rarity of the 1870-CC overall continues to defy even certified population figures. Rusty Goe, in The Confident Carson City Coin Collector, notes that, regarding especially coins in the XF40 and XF45 grades, "the combined supply is not even close to the submission events tally. Not unless, that is, owners of a number of pieces certified in these two condition ratings have kept their coins painstakingly under wraps for the past three decades." Goe estimates that only 75 to 95 1870-CC half eagles are known, a figure that agrees with the PCGS estimate of 75 to 100 pieces. Auction data for this issue would support these estimates and simultaneously invalidate certified population figures in excess of 130 coins.
The Navy Mustang piece is the first XF45 example of this issue we have handled in more than a decade. It is one of only 29 pieces to carry CAC endorsement, and one of just three in XF45 with the coveted green label. One look at this piece in-hand and it becomes obvious why this piece garnered CAC approval. Smooth, remarkably unmarked surfaces yield hints of luster in the peripheral fields, while complementing rich orange-gold and olive patina overall. Strike weakness is restricted to the eagle's neck and the hair curls around Liberty's face, and overall eye appeal is exceptional for the issue. Collectors of Carson City gold need look no further for an exceptional example of this challenging key date. Population: 14 in 45 (1 in 45+), 17 finer. CAC: 3 in 45, 4 finer (6/22).
From The Navy Mustang Collection. (Registry values: P3)
Coin Index Numbers: (NGC ID# 25WA, PCGS# 8320, Greysheet# 9049)
Weight: 8.36 grams
Metal: 90% Gold, 10% Copper
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 all of [The Navy Mustang Collection ]
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
2022 August 22 - 28 US Coins Signature® Auction #1348 (go to Auction Home page)
Auction Dates
August, 2022
22nd-28th
Monday-Sunday
Bids + Registered Phone Bidders: 27
Lot Tracking Activity: N/A
Page Views: 569
Buyer's Premium per Lot:
20% of the successful bid per lot.
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