An 1870-CC gold double eagle graded XF-40 (non-certified) sold for $253,000 at Stack's Americana sale in New York City on January 16. This example of the key date in the "CC" $20 gold series is not visually attractive, and has not even been graded by a third-party service, which makes its price realized even more astonishing.
1870-CC $20 gold piece from Stack's Americana sale, 1-16-08.
This strong showing further illustrates the perpetually-increasing demand for rare "CC" issues. We can only imagine what this same coin would have fetched if it had been graded XF-40 or XF-45 by PCGS or NGC. It seems plausible that the winning bid would have cracked the $300,000 barrier. This is all so mind-bending, since it was only about seven or eight years ago that 1870-CC double eagles in any grade were just barely crossing the six-figure level. And, to add more perspective to the sale of this specific 70-CC $20 gold piece, the same coin sold for $20,900 back in 1987 at another Stack's January auction. If its consignor in 2008 is the same person who purchased it in 1987, he or she should be very pleased, don't you think?
The way this current auction season is shaping up, "CC" coins of all types, dates and grades, are sure to garner their share of attention. Stay tuned.
This strong showing further illustrates the perpetually-increasing demand for rare "CC" issues. We can only imagine what this same coin would have fetched if it had been graded XF-40 or XF-45 by PCGS or NGC. It seems plausible that the winning bid would have cracked the $300,000 barrier. This is all so mind-bending, since it was only about seven or eight years ago that 1870-CC double eagles in any grade were just barely crossing the six-figure level. And, to add more perspective to the sale of this specific 70-CC $20 gold piece, the same coin sold for $20,900 back in 1987 at another Stack's January auction. If its consignor in 2008 is the same person who purchased it in 1987, he or she should be very pleased, don't you think?
The way this current auction season is shaping up, "CC" coins of all types, dates and grades, are sure to garner their share of attention. Stay tuned.
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