1876-CC 20-CENTER REALIZES $264,500!

Collectors talked about it for weeks. Many stopped by Superior's table at the Baltimore ANA just to catch a glimpse of it. And now, it's history. An 1876-CC 20-cent piece graded MS-62 by PCGS cost its new owner $264,500 in Superior's Pre-Long Beach sale, held on Monday, September 15 in Beverly Hills, CA.

The bidding stalled momentarily at the $225,000 level (not including the 15% buyer's fee), before the final bid of $230,000 captured the coveted prize. Add in an additonal 15% ($34,500) and you've got a new record-shattering price (for this date in this grade).

During the spring of 1876, the Carson City Mint struck 10,000 twenty-cent pieces. None of them were released for circulation (at least none that were reported), however, as the Treasury Dept. subsequently removed this denomination from the nation's monetary system. The following spring, in 1877, the superintendent at the Carson Mint received an order to melt down all twenty-cent pieces in inventory.

It is believed that approximately 9,980 1876-CC twenty-cent pieces were destroyed. A handful of them had been sent to the Assay Commission back east to be tested for standard weights and measures. Presumably, another small group of these storied coins eventually fell into the hands of collectors or other interested parties, and today (2008), it is estimated that 18 to 20 examples survive.

Prices for examples of this date/denomination in all grades have risen dramatically. In 1999, a specimen similar in quality to the coin showcased in this posting, failed to meet the consignor's reserve in a Heritage summer ANA sale. Five months later, it realized $69,000 in Heritage's 2000 FUN sale. In March and October 2001, two examples, graded MS-66, brought $161,000 and $138,000, respectively, in Superior and Heritage auctions.