by Greg Reynolds for CoinLink

On Wednesday, Oct. 17, a Choice Uncirculated 1876-CC Twenty Cent piece will be offered by Stack’s in New York City. It is graded “MS-64” by the Professional Coin Grading Service (PCGS). As of 01:30 AM on Tuesday, Internet bidding already pushed the price over $200,000. A large variety of U.S. coins and many other numismatic items are included in this auction event.

This 1876 Carson City (NV) issue is an attractive coin, and is moderately brilliant. Its reverse (back) is very attractive and features a cool, very frosty eagle that glows in vivid contrast to gray-silver fields. There are a few hairlines and small contact marks here and there, but these are not particularly distracting. As on all 1876-CC Twenty Cent pieces, the letters in LIBERTY are doubled. Other design elements are doubled as well.

Twenty Cent coins were only minted for circulation for two years, in 1875 and ‘76. People confused them with quarters, and generally found them to be annoying. The silver mining industry, directly and indirectly, had influenced several members of Congress to sponsor legislation mandating a Twenty Cent coin.

Twenty Cent pieces have been favorites with collectors for a very long time. Even in the 19th century, collectors demanded them. For two additional years, in 1877 and ‘78, Proof Twenty Cent pieces were specially made, many of which were sold directly to collectors by the Philadelphia Mint. (more…)

By Greg Reynolds for CoinLink

An 1870-CC Double Eagle ($20 gold coin) is ‘in the news’ as one of the finer pieces sold privately in the middle of August. It had surfaced at the ANA Convention.

Bob Green of Park Avenue Numismatics sold this 1870-CC to a Nevada collector for an amount greater than $400,000!

As it did not come from a famous collection, at least not in recent decades, I will refer to it as the Green 1870-CC to distinguish it from others of the same date. The Green 1870-CC is certified, graded and encapsulated by the Numismatic Guaranty Corp. (NGC). Its “AU-53” grade indicates that it is certainly one of the ten finest 1870-CC Double Eagles, possibly even one of the two or three finest?

I am not aware of any 1870-CC Double Eagles that grade MS-60 or higher. Many of those that currently grade AU were graded as Extremely Fine in the 1980s or early 1990s. Likewise, many that were graded Very Fine in the past few decades have been certified as “Extremely Fine” over the past ten years. There are two Extremely Fine grade increments, EF-40, EF-45, and four in the AU range: AU-50, AU-53, AU-55, and AU-58.

Grades of MS-60 to -70 roughly approximate the range relating to the traditional grading concept of ‘Uncirculated.’ In 1988, the late researcher Walter Breen asserted that the 1870-CC is “unknown” in uncirculated. David Akers, the foremost expert on U.S. gold coins, stated that he never saw an uncirculated or “Mint State” 1870-CC. Curiously, one other expert, in a somewhat recent book on Double Eagles, estimates, without any pertinent references, a population of one or two Mint State 1870-CC Double Eagles. (more…)