Lot 1747
1870-CC. PCGS graded EF-45. Well struck with pleasing rose-gold toning. Only 5,908 struck of which 66 are estimated to have survived. Some residual pink-tinted frost still present around some of the stars, letters, and main devices. Light toning across the surface which indicates to us a coin that has resided in old-time collections almost since the beginning. An delightful highly rated rarity, and a benchmark for the few other Extremely Fine 45 examples that share this grade. While the strike is bold and crisp in many areas, it is not quite full on the stars, yet certainly few of the head details are left to the viewer's imagination. Also, there is a decent if not exactly sharp eagle. Note is made of the word WE on the scroll being effaced by minor scuffing. Later CC-mint $10 gold pieces struck in the mid-1870s are, for the most part, poorly made, which gives the advantage to this better-than-average 1870-CC. Light surface abrasions are consistent with the few years it spent in circulation in the "Wild West."
Research has turned up that only a single set of dies was used for 1870-CC. On January 6, 1870, the Carson City Mint opened for bullion deposits and coinage. During its 23 years of operation, the Mint would produce some of the most difficult to acquire and romanticized rarities in all of numismatics. While there are a fair number of scarce dates among the branch mint's silver and gold denominations, few have the allure of the 1870-CC eagle. It is the rarest eagle struck in Carson City. This issue also outshines the similarly illustrious 1870-CC double eagle for top honors as a rarity among all CC-mint gold coins!
A total mintage of only 5,908 pieces explains this coin's rarity. While the 1872-CC, 1873-CC, 1876-CC, 1877-CC, 1878-CC, and 1879-CC may have had lower mintages, far fewer 1870-CC examples survive in all grades. It seems logical that the entire 1870-CC production was put into circulation at the time of issue. Hardly a miracle, then, that the 1870-CC is celebrated as a condition rarity in addition to being an absolute rarity. Pop 7; 8 finer with 4 in 50, 2 in 53, 2 in 55. (PCGS # 8658) .
Estimated Value $24,000 - 28,000.
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| Realized $48,300 |
