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Lot: 4118
Auction: 1116
1871-CC $20 AU50 NGC....
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Sold for: Sign-in or Join (free & quick) (includes BP) Bid Source: Internet
Ended: Sep 18, 2008
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Buyer's Premium: 15% of the successful bid (minimum $9.00 per lot)
Auction Name: 2008 September Long Beach, CA US Coin Signature Auction #1116
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 4 Internet/mail bidders, 475 page views

Description
1871-CC $20 AU50 NGC. For collectors today, the CC mintmark carries an undeniable appeal. Carson City's website (www.carson-city.nv.us) gives an appropriate summary: "All of these coins, whatever their rarity or market value, carry romantic associations with the Old West and the great bonanza years of the late 19th century." Discovery of silver and gold deposits, including the well-known Comstock Lode, encouraged local mine owners, abetted by Carson City founder Abraham Curry, to petition Congress for a Nevada branch mint in the early 1860s. Mint Director James Pollock's objections were ignored; Congress approved the Carson City Mint in 1863. Delay caused by the Civil War pushed coin production back to 1870. Even after the commencement of Carson City coinage, the mint's raison d'ĂȘtre was in jeopardy. Breen (1988) notes that "authorities and bankers preferred to ship bullion to San Francisco, alleging lower cost ... but their real reasons had to do with who would get the coveted contracts for transporting ores and finished coins." Falling silver prices and allegations of fraud combined with political maneuvering to end Carson City's Mint status in 1899.
The present example represents the second year of double eagle production at Carson City, and though 17,387 coins were minted in 1871, it is a scarce issue. As Garrett and Guth (2006) note, "By a large margin, the 1871-CC double eagle is the second-rarest Carson City issue. The mintage is small, and most of the production was destined for circulation in Nevada and the surrounding areas. Circulation is the key word, as most of the coins found of this issue are well worn and heavily bagmarked. ... The 1871-CC double eagle is scarce in Extremely Fine and About Uncirculated condition."
The lustrous honey-gold surfaces of this coin are accented by a blush of rose and occasional carmine highlights nearly hidden along the edges of the devices. Despite a brief trip through the pockets and cash drawers of commerce, wear is uniform, and there are no significant marks or spots. This is a wonderful Carson City double eagle, perfect for the advanced gold collection.(Registry values: N1793) (#8961)



Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 1108, Lot 3622 Monday, June 2, 2008 50 NGC $51,750.00
Auction 454, Lot 3321 Saturday, January 12, 2008 50 NGC $32,200.00
Auction 360, Lot 8839 Saturday, January 15, 2005 50 PCGS $29,900.00
Auction 308, Lot 8992 Saturday, January 11, 2003 50 PCGS $14,950.00
Auction 267, Lot 8017 Wednesday, August 8, 2001 50 PCGS $12,650.00
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