Description:

1870-CC $20 Liberty. NGC graded EF-45. Only 3,789 pieces struck for this key date Carson City mint Double Eagle. Mostly untoned. We are proud to offer this magnificent rarity, the 1870-CC. What is remarkable about this coin is that it is so well preserved, with little wear to speak of. Many dealers who examined this piece believe it may actually grade a bit higher than the conservative grade given by PCGS. With rarities such as this, the grade on the holder doesn't matter nearly as much as the coin itself. There are some moderate handling marks, as always seen on this date and mint. The worst is a field cut on the hair bun on the obverse, near stars 9 and 10. Both sides are a bit glossy in texture, and they were lightly cleaned at one time. We stress, however, that the surfaces are among the more appealing that we have ever seen for a '70-CC Twenty. There is no heavy hairlining or excessive muting to the appearance, and the other abrasions, although numerous, are mostly small in size and singularly inconspicuous.

As is the case with virtually all American rarities, prior transactions data are largely useless, since valuable coins such as this 1870-CC $20 are apt to play tag or musical chairs and be submitted and resubmitted to various services, thus confusing the number "known" beyond any reasonable estimate of the actual quantity of different pieces extant.

A foremost rarity, far and away the rarest CC-mint $20 and the first year of issue from this Mint. Few were coined. And with a survival rate probably below one percent, this means perhaps 35 coins are accounted for today. We would not be surprised to see this coin bring a strong market bid for the date. Pop 6; 6 finer (PCGS # 8958) .

The Carson City Mint (1870-85 & 1889-93) is probably the most widely recognized coinage facility in the history of the United States in the circle of coin collectors. The Mint operated under rugged conditions during latter third of the 19th century. It was dependent upon locally mined gold and silver ores from the Comstock Lode and other Nevada mines. Most CC-mint Double Eagles have very low mintages, and this is particularly true for the first years in the early 1870s. Not only did the Carson City Mint have to contend with difficult business conditions in Nevada, but also the political strife from Washington where special interests were looking for excuses and/or opportunities to shut down the facility and send the work to the more politically connected San Francisco Mint. Given the difficulty of its birth and the intervening events of its relatively short existence, it is a wonder that the Carson City Mint managed to put any coins into circulation. Its gold and silver pieces are eagerly sought by collectors.
Estimated Value $210,000 - 230,000.
Previously sold in Bowers 11/2008 sale; offered again in Heritage 3/2009 sale.

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