Warin Global Investments
Online Auction 38 3 Nov 2022
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The 1870-CC is one of the rarest, most famous, desirable and valuable of all Double Eagles.
Carson City mint was active from 1870-1893. In this inaugural year 3,789 Double Eagles where struck. This is from far the lowest mintage of Double Eagles ever produced in Carson City.
These $20's were delivered in five batches. They went immediately to the public and put into circulation as per requested by law. Therefore, for the 19th and early 20th century collectors they were of very little numismatic interest. Coins were circulating for decades mostly in the American West. As a result, most of them have serious surface marks. Another consequence is that, as opposed to many Carson City gold coins, very few were exported (and so repatriated) to Europe.
Coming to surviving population is a delicate issue. Indeed, it is generally accepted that less than 50 pieces are surviving. Less than 15 in XF (including this one) and 5-6 in AU. PCGS certified one coin in 53 and NGC one in 55. Nothing above.
Nevertheless, it is more than certain that the 70-CC suffered of inflated resubmissions and crossover. So, real surviving population is presumably lower.
Struck during the first half of the year (variety 1-A) this one is nice looking with its pleasant orange-gold surface. There are visible marks but not more than one might expect for the grade. On the obverse one can see a tooling between stars 7 and 8 and some smoothing on the left field.
Provenance: Private European Collection. PCGS certificate number 45362662.
Two 1870-CC achieved incredible prices recently. In Nov.2021 the AU53 was sold for US$ 1,6 Mio (one of the highest prices for a US coin) and in April 2022 a 45/CAC was sold for US$ 810K. This one is starting at EUR 380,000 (US$ 372,550).
Coins & art collectors, investors and dealers have all a major interest in acquiring such a desirable coin. It might not appear on the market for years.
Carson City mint was active from 1870-1893. In this inaugural year 3,789 Double Eagles where struck. This is from far the lowest mintage of Double Eagles ever produced in Carson City.
These $20's were delivered in five batches. They went immediately to the public and put into circulation as per requested by law. Therefore, for the 19th and early 20th century collectors they were of very little numismatic interest. Coins were circulating for decades mostly in the American West. As a result, most of them have serious surface marks. Another consequence is that, as opposed to many Carson City gold coins, very few were exported (and so repatriated) to Europe.
Coming to surviving population is a delicate issue. Indeed, it is generally accepted that less than 50 pieces are surviving. Less than 15 in XF (including this one) and 5-6 in AU. PCGS certified one coin in 53 and NGC one in 55. Nothing above.
Nevertheless, it is more than certain that the 70-CC suffered of inflated resubmissions and crossover. So, real surviving population is presumably lower.
Struck during the first half of the year (variety 1-A) this one is nice looking with its pleasant orange-gold surface. There are visible marks but not more than one might expect for the grade. On the obverse one can see a tooling between stars 7 and 8 and some smoothing on the left field.
Provenance: Private European Collection. PCGS certificate number 45362662.
Two 1870-CC achieved incredible prices recently. In Nov.2021 the AU53 was sold for US$ 1,6 Mio (one of the highest prices for a US coin) and in April 2022 a 45/CAC was sold for US$ 810K. This one is starting at EUR 380,000 (US$ 372,550).
Coins & art collectors, investors and dealers have all a major interest in acquiring such a desirable coin. It might not appear on the market for years.