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Sale 48
Lot 1292
1870-CC $20 Liberty. PCGS graded EF-45. A lovely bold example, free from the rim bruises and other decernable marks usually associated with this first and rarest of all Carson City gold issues. Some honest wear with only minimal handling marks. The surfaces are mostly untoned with traces of mint luster in the protected areas. Only 3789 coins minted.
We are pleased and proud to offer this magnificent rarity, the 1870-CC. What is unusual about this specimen is how carefully preserved it is, as stated in our opening comments. There is little or no wear to speak of on most of the high points. Many dealers who examined it believe it may actually grade a shade higher than the conservative opinion assigned by PCGS. With rarities of the caliber of 1870-CC, the grade on the holder doesn't matter as much as the coin contained in it. There are some light handling marks, as always seen on this date and mint. Fortunately there is no "worst" mark. About the only ones we feel should be called identifiers (to use the popular weasel word) are: a shallow chattermark below the C of AMERICA on the reverse and another tiny scuff on Liberty's nose. Hardly the sort of things one gets overemotional about. The coin is definitely on the high side of attractiveness. Rather well struck for an 1870-CC too, although the stars are flat, Liberty shows full hair curls. The reverse for its part, is nicely detailed and free from problems from circulation. To repeat: plenty of luster lies protected by the devices.
This is the die pairing with the CC mintmark slightly left when compared with the other reverse die. The PCGS Population Report is given at the end of this description. We noted in an earlier sale: "As is the case with virtually all American rarities, certification data are largely useless, since valuable coins such as this 1870-CC $20 are apt to play tag or musical chairs and be submitted and resubmitted to various services, thus ballooning the number beyond any reasonable estimate of the actual quantity of different pieces extant."
A foremost rarity in its own right, far and away the rarest CC-mint $20 and the first year of issue from this Mint. The survival rate, probably less than one percent, means perhaps 35 to 50 coins are extant today. We would not be surprised to see this coin bring a new record for the date and grade. Pop 10; 4 in AU-50, 1 in AU-53. (PCGS # 8958) .
Estimated Value $250,000 - 275,000.
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| Realized $345,000 |
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