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1873-CC $1 AU58 NGC....

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Sold on Jan 7, 2016 for:
$37,600.00 Bid Source: Internet bidder
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Description

1873-CC Seated Dollar Key, AU58
Brilliant With Reflective Fields
Seldom Seen in Mint State

1873-CC $1 AU58 NGC. The 1873-CC is second only to the 1870-S in overall rarity among regular issue With Motto Seated dollars. Although it does not have the lowest mintage of the Carson City dollars (the 1871-CC has that distinction), the number of survivors is lower than any other CC date. Only 2,300 pieces were struck of the 1873-CC, and the majority were likely melted, with somewhere between 750 and 1,000 pieces actually released into circulation. The reason for the low mintage was simple: The mints were gearing up to produce the Trade dollar, which was first minted in 1873. In a letter from R.W. Julian to Q. David Bowers in 1992 and quoted in Bowers' Silver Dollar Encyclopedia, Julian suggests, "If the 2,300 were not called for by the silver depositor, it is likely that they would have been melted, and his bullion returned to him. It is my opinion, however, that all the coins were paid out and then perhaps redeposited for trade dollar coinage a few weeks later." To us, this seems like a cumbersome process, unless Julian means that local banks were ordered to redeposit Seated dollars for recoinage into the new Trade dollar design. In any case, few 1873-CC dollars entered the channels of commerce, and fewer still survive in AU and Uncirculated grades.

The finest examples known are three Uncirculated pieces found in the cornerstone of a building in Carson City that was torn down in 1973. Today there are eight Mint State 1873-CC Seated dollars (three at PCGS [MS60, MS61, MS65], four at NGC [two MS61, MS64, MS65), but allowing for resubmissions, probably no more than three to five different Mint State examples survive. In all grades, both major services have certified 108 pieces (8/15). Again, doubtless numerous resubmissions figure into that number; actual survivors probably amount to 60 or 70 different coins. When located, the 1873-CC is usually seen no better than VF or XF, with perhaps no more than 20-24 coins in AU.

This brilliant near-Mint State retains much of the prooflike field reflectivity often seen on high-grade examples of this issue. The piece is well but not completely struck up, with the only noticeable weakness on Liberty's hair. The surfaces are lightly abraded, but the only marks of note for pedigree purposes are a series of small abrasions in the lower obverse field by star 13. One of the finest 1873-CC dollars available and a significant find for the Seated dollar specialist.
Ex: Palm Beach Signature (Heritage, 3/2006), lot 1656, which brought $57,500; Joseph C. Thomas Collection / Central States Signature (Heritage, 4-5/2009), lot 2585, which realized $34,506.
From The Pellegrini Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 24ZN, PCGS# 6972, Greysheet# 7233)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View all of [The Pellegrini Collection ]

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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.

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Auction Info

2016 January 6 - 11 FUN US Coins Signature Auction - Tampa #1231 (go to Auction Home page)
Auction Dates
January, 2016
6th-11th Wednesday-Monday
Bids + Registered Phone Bidders: 10
Lot Tracking Activity: N/A
Page Views: 2,145

Buyer's Premium per Lot:
17.5% of the successful bid per lot.

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Sold on Jan 7, 2016 for: $37,600.00
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