Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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Liberty Double Eagles
1871-CC $20 AU55 NGC. Variety 1-A. Double eagles were first struck at the Carson City Mint in March 1870, being preceded by the five and ten dollar gold denominations, which were a bigger priority for the local economy. But much of the Nevada branch mint's early production was not in the form of federal coinage, but in that of cast gold and silver bars. In 1870, double eagle production fell short of 4,000 coins. The lack of a bullion fund with which to pay depositors on the spot was partly to blame for the low production, as cast bars could be produced more quickly than coins. In 1871, with a bullion fund authorized, double eagle production increased to 17,387 pieces -- still a low mintage, but more in line with demand from the local economy.
The 1871-CC twenty was struck during a period when Carson City gold circulated extensively in the local territory with almost no coins spared for numismatic purposes. The attrition rate was high, and coins that survived did so merely by chance. Today the '71-CC is the second-rarest double eagle from this mint, trailing only the 1870-CC. Uncirculated examples are prohibitively rare. Recent auction appearances of this issue have consisted primarily of coins in XF and lower AU grades, but with many of the AU-level coins being cleaned. In the last five years, we have handled only two problem-free AU55 representatives, both NGC-certified. The most recent was in lot 3354 of our October 2016 Dallas Signature sale, which realized $64,625. In fact, auction prices for this issue in AU55 have steadily risen over the past ten years, revealing strong demand for this date in high grade.
The present coin displays a bold strike and medium straw-gold patina. Scattered abrasions are consistent with the grade, while the design elements show a hint of high-point wear. The protected areas of the fields around the peripheral relief elements have a touch of semiprooflike reflectivity. The 1871-CC double eagle is seldom offered this fine, and is far scarcer in this grade than the certified population figures would suggest. Census: 27 in 55, 23 finer (3/17).
HID02901242017
1871-CC $20 AU55 NGC. Variety 1-A. Double eagles were first struck at the Carson City Mint in March 1870, being preceded by the five and ten dollar gold denominations, which were a bigger priority for the local economy. But much of the Nevada branch mint's early production was not in the form of federal coinage, but in that of cast gold and silver bars. In 1870, double eagle production fell short of 4,000 coins. The lack of a bullion fund with which to pay depositors on the spot was partly to blame for the low production, as cast bars could be produced more quickly than coins. In 1871, with a bullion fund authorized, double eagle production increased to 17,387 pieces -- still a low mintage, but more in line with demand from the local economy.
The 1871-CC twenty was struck during a period when Carson City gold circulated extensively in the local territory with almost no coins spared for numismatic purposes. The attrition rate was high, and coins that survived did so merely by chance. Today the '71-CC is the second-rarest double eagle from this mint, trailing only the 1870-CC. Uncirculated examples are prohibitively rare. Recent auction appearances of this issue have consisted primarily of coins in XF and lower AU grades, but with many of the AU-level coins being cleaned. In the last five years, we have handled only two problem-free AU55 representatives, both NGC-certified. The most recent was in lot 3354 of our October 2016 Dallas Signature sale, which realized $64,625. In fact, auction prices for this issue in AU55 have steadily risen over the past ten years, revealing strong demand for this date in high grade.
The present coin displays a bold strike and medium straw-gold patina. Scattered abrasions are consistent with the grade, while the design elements show a hint of high-point wear. The protected areas of the fields around the peripheral relief elements have a touch of semiprooflike reflectivity. The 1871-CC double eagle is seldom offered this fine, and is far scarcer in this grade than the certified population figures would suggest. Census: 27 in 55, 23 finer (3/17).
HID02901242017