Lot 2329
1872-CC $5 Liberty. NGC graded AU-50. Untoned. Finely detailed and carefully preserved (note the choice rims on both sides, there are no nicks or dents to draw attention). Carson City mint half eagles rarely show any luster, especially the pieces struck in the earliest years, 1870-77. Yet this attractive piece has loads of mint frost in and around the devices, outlining the stars and letters, and elsewhere, a sure sign that it was retrieved from circulation early on. No doubt the present sale will attract a lot of attention. Only 16,980 struck. Pop 3; 16 finer; 5 in 53; 7 in 55; 4 in 58.
Events during 1872 were pretty much akin to what took place in 1995-2000, at least in the world of finances. The "cheap money" which arose out of the American Civil War enabled savvy investors to buy up railroads and other companies, then inflate their stock and bond prices. A building boom accompanied the stock boom; railroad mileage grew by leaps and bounds; land speculation was rife, in the East, in the mid-section of the country, and also in the Western region.
The political cauldron associated with the cheap money caused all sorts of interesting things to brew under the surface of the Grant administration. The Credit Mobilier scandal came frothing to a head. And the waves were still sloshing through Wall Street from Fisk and Gould's 1869 attempted corner of the gold market. Meanwhile, out West, four powerful men were divvying up the state of California into political fiefdoms. Amid such churning and industrial growth, this delightful 1872 Carson City Half Eagle entered the world. One wonders what stories it would tell if only it could speak?
Estimated Value $13,000 - 15,000.
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| Realized $12,075 |
