By Doug Winter – RareGoldCoins.com

Having just acquired one of the two or three finest known examples of this date (a PCGS AU58 that is illustrated below) I thought it would be interesting to share some information about one of my favorite half eagles from this mint.

The 1878-CC is among the rarest Carson City half eagles, both in terms of overall and high grade rarity. It is not nearly as well known as the 1870-CC and it doesn’t have the cult following that the rare and undervalued 1873-CC has. That said, it is still a coin that is very well respected by specialists.

A total of 9,054 were struck. When I wrote the second edition of my book “Gold Coins of the Carson City Mint” back in 2001, I estimated that there were just 60-70 known in all grades. A decade later this estimate seems a bit on the low side and I’d probably revise the total number known up to the area of 75-100.

As of May 2010, PCGS has graded a total of 64 examples in all grades with none in Uncirculated and a total of twenty in About Uncirculated including five each in AU55 and AU58. NGC has a total of 48 in all grades with one in Uncirculated (more on this in a second) and nineteen in AU including five each in AU55 and AU58. My previous estimate of just three to five known in About Uncirculated now seems very low but I believe that the PCGS and NGC populations for AU are significantly inflated by resubmissions. My best guess is that there are around ten or so properly graded AU’s known today.

A few years ago, an example graded MS63PL appeared on the NGC population report. I have never seen this coin and am assuming it is a data entry error. If it does actually exist, it is one of the most significant Carson City half eagles in existence and it is a coin that I would really like to view in person.

The finest 1878-CC Carson City half eagles that I have seen are a small number (around three or four) that grade AU58 by today’s standards. The all-time auction record for this date is Stack’s 5/08: 4235, graded AU58 by PCGS, that brought $63,250. (more…)

This wholly original and beautifully struck specimen is one of the finest our graders have ever seen, and is now the highest-graded coin of the issue and the sole example at this level.

NGC graders are fortunate to have seen more coins than anyone, but they always take time to appreciate truly special coins. The unexpected encounter with this 1872-CC $20 is one such example. Wholly original and beautifully struck, it was instantly recognizable as the finest our graders had ever seen. It graded MS 62 , making it both the highest-graded coin of the issue and the sole example at this level.

Carson City Double Eagles are compelling coins. They combine their historical intrigue as coins of the pioneer West with their significant scarcity. The 1872-CC is the third $20 gold piece issue from the Carson City Mint. Since the 1870-CC is a major rarity and the 1871-CC is very elusive in all grades, the 1872-CC is, in contrast, considered to be “available” to collectors. Virtually all of the 26,900 struck likely entered circulation, and certainly fewer than 20 uncirculated examples survive.

Most 1872-CC double eagles show heavy bag marks; those that are spared heavy wear can exhibit a pleasing strike; however this example is particularly sharp and crisp. How this coin survived the rough handling that is typical of the issue is not known. After certification, NGC was informed that this example resided in a private family collection and was purchased in Europe during the 1920s only with a small group of similar era US gold coins.

More information on NGC and the services they offer can be found at the NGC Website

Classics of American coinage ready for Heritage’s final Signature® Numismatic Auction of the year, Dec. 3

A rare and highly desirable branch mint proof 1884-CC Morgan dollar, graded PR66 Cameo by NGC, leads the list of highlights for Heritage Auctions’ December 2009 Signature® U.S. Coin Auction, to be held in Houston, TX. It is estimated at $140,000+.

Though the Carson City Mint had neither the personnel nor the resources to strike proof coins on a par with those produced at the main Philadelphia Mint, it did turn out a small number of special pieces, or branch mint proofs.

“In the second half of the 19th century Philadelphia struck virtually all proof coins,” said Greg Rohan, President of Heritage Auctions. “Only a handful of proofs were struck at branch mints such as Carson City – some with official authorization and some without. While this branch mint proof dollar does not appear in any official records, it is clearly unlike any Morgan dollar struck for circulation.”

Saint-Gaudens double eagles can be found near the top of the list for almost any U.S. Coin auction, and the Heritage Auctions Houston event is no exception. Of the double eagles to be offered in Houston is a 1925-D double eagle graded MS65 by PCGS, a gorgeous specimen that shows why artistry is as greatly desired as rarity. It is estimated at $70,000+.

“Like other D-mint and S-mint issues of the time, the 1925-D was almost completely wiped out in the 1930s,” said Rohan. “Any 1925-D double eagle is a desirable coin, and a Gem survivor such as this is of particular importance.”
(more…)