Heritage World Coin Auctions
FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Liberty Double Eagles
1872-CC $20 MS61 NGC. Variety 1-B. Gold deposits were up at the Carson City Mint in 1872 and double eagle mintage increased accordingly, to 26,900 pieces. The production was accomplished using just one obverse and two reverse dies, for a total of two die varieties for the date. The coin offered here represents Variety 1-B, with a widely spaced CC mintmark. While the 1872-CC is not as rare as the two preceding Carson City double eagle issues (1870-CC and 1871-CC), it is still scarce in all grades and a better date in the series.
Collecting large denomination gold coins was not popular in the 19th century, because each coin represented such a large face value (the average farm worker earned just $23 per month, plus room and board in 1870, and industrial workers made just $129 per year). Acquiring complete date runs of double eagles was clearly out of the question for most contemporary collectors, and even the most wealthy numismatists were usually content to update their collections with proof coins from the Philadelphia Mint every year, since there was no numismatic interest in mintmark varieties before 1893. The entire mintage of Carson City double eagles was released into circulation in 1872 and it is safe to say none were saved for numismatic purposes. The coins circulated heavily in the hard-money economy of the American West and the average specimen seen today shows considerable wear and numerous abrasions. Mint State examples are very rare, and almost always suffer from excessive bagmarks.
The present coin is a rare Mint State example, with pleasing orange-gold surfaces that show the expected number of minor contact marks for the grade and retain traces of original mint luster. The strike is better-than-average for a Carson City issue, with many stars showing radials and much fine definition in the eagle's feathers. The overall presentation is most attractive and finer examples are virtually unobtainable. Census: 8 in 61, 1 finer (10/16).
From The Renz Family Collection of $20 Gold Coins.
1872-CC $20 MS61 NGC. Variety 1-B. Gold deposits were up at the Carson City Mint in 1872 and double eagle mintage increased accordingly, to 26,900 pieces. The production was accomplished using just one obverse and two reverse dies, for a total of two die varieties for the date. The coin offered here represents Variety 1-B, with a widely spaced CC mintmark. While the 1872-CC is not as rare as the two preceding Carson City double eagle issues (1870-CC and 1871-CC), it is still scarce in all grades and a better date in the series.
Collecting large denomination gold coins was not popular in the 19th century, because each coin represented such a large face value (the average farm worker earned just $23 per month, plus room and board in 1870, and industrial workers made just $129 per year). Acquiring complete date runs of double eagles was clearly out of the question for most contemporary collectors, and even the most wealthy numismatists were usually content to update their collections with proof coins from the Philadelphia Mint every year, since there was no numismatic interest in mintmark varieties before 1893. The entire mintage of Carson City double eagles was released into circulation in 1872 and it is safe to say none were saved for numismatic purposes. The coins circulated heavily in the hard-money economy of the American West and the average specimen seen today shows considerable wear and numerous abrasions. Mint State examples are very rare, and almost always suffer from excessive bagmarks.
The present coin is a rare Mint State example, with pleasing orange-gold surfaces that show the expected number of minor contact marks for the grade and retain traces of original mint luster. The strike is better-than-average for a Carson City issue, with many stars showing radials and much fine definition in the eagle's feathers. The overall presentation is most attractive and finer examples are virtually unobtainable. Census: 8 in 61, 1 finer (10/16).
From The Renz Family Collection of $20 Gold Coins.