The future of 'CC' coins

To all 'CC' collectors; I feel that now is the time to get the coins that you need for your collections, because it will be only a matter time before we see huge price increases. I really like the gold series: mainly the double eagles. Good luck to all collectors in their quest for those 'cc' coins.

1870-CC $20 GOLD PIECE BRINGS QUARTER MILLION $$S

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.

SIX CC $20 BEAUTIES FROM THE RICH UHRICH COLLECTION

"Hear ye, hear ye" all "CC" fans. Six beautiful "CC" gold double eagles are on the auction block. From the Rich Uhrich Collection:
(1.) 1872-CC NGC AU-58
(2.) 1873-CC NGC AU-58
(3.) 1875-CC NGC MS-63 (only two graded finer by NGC)
(4.) 1885-CC PCGS MS-61
(5.) 1891-CC NGC MS-62 (none graded finer by NGC)
(6.) 1892-CC PCGS MS-62.
These fabulous bad boys will be auctioned by Stacks at the February 26-27, 2008 Baltimore Sale. It is my hope that a member of our C4OA will score at least one or two of these. Since I probably won't be able to get them, maybe we could keep them in the family so-to-speak. Let me know what you think. Members, leave your comments!

RECORD PRICE REALIZED FOR PROOF 1876-CC DIME

It's all about respect. Either the numismatic community believes that a certain coin is rare and worthy of high value or it doesn't. The 1876-CC branch mint Proof dime has finally earned its distinction as a genuine American classic rarity, as it transcended the price scale to the next level, shattering all pre-sale estimates. The winning bidder chunked down $178,250 for the 1876-CC Liberty Seated dime certified as a PR-65 by PCGS in Superior's Elite Coin Auction held in Orlando, Florida on January 5, 2008. The consignor of this special coin posted a hefty reserve before the sale, which if satisfied, would ensure that a new record would be established. One by one bidders dropped out of contention, until at the end it was between two stalwarts, neither of whom wished to concede victory to the other. A second-to-last bid of $150,000 was trumped by one of $155,000, thus ending the contest. Add another $23,250 in buyer's fees to the hammer and you've got the final price realized.

Previous sales of any of the reported Proof or Specimen strike 1876-CC dimes approached the $50,000 mark, which is certainly an impressive level. But now the roof has been raised, and just as the 1893-CC Proof Morgan dollars at one time needed to prove that they were worthy of breaking the six-figure barrier, the specially-struck 1876-CC dimes will now be accepted into an exclusive club in which rarity engenders accolades.

This is a monumental day for the Carson City series and we offer our hearty salute in honor of the occasion. And, by the way, congratulations to the dime's new owner.

Happy New Year "CC" Enthusiasts!

What does the year 2008 have in store for all of us who treasure Carson City coins? Time will only tell, but before we ponder the future let us reflect on the past. Aside from it being the 150th anniversary of the founding of Carson City, it has been 138 years since the Carson City Mint released its first coins (1870-CC Liberty Seated silver dollars), and 115 years since it issued its last coins (1893-CC Morgan silver dollars). In between those two landmark years, the Carson Mint manufactured approximately 56.6 million coins consisting of ten different types; seven of which were struck in silver, and three of which were struck in gold.


According to my best estimates, no more than 4.5 million of these coins survived to the present day; and approximately 4.2 million of these are represented by the Morgan silver dollars. This means that there are no more than a combined total of 300,000 of all the other nine types of coins in existence.

Some of these we know are extremely scarce, with the 1873-CC Without Arrows dime sitting at the top of the rarity scale with only one known survivor. Next in line is the sister to the Unique dime, the 1873-CC Without Arrows quarter, with only five known survivors. And not too distant down the scale is the 1876-CC twenty-cent piece, with its estimated surviving population of eighteen or nineteen specimens. These are the three coins many of us dream of owning, but only a few of us ever will own.

So, we've got our mega-rarities, but then there are many other coins bearing the "CC" mintmark which run the gamut of price categories. As all members of C4OA have observed in the pages of Curry's Chronicle, there are categories of "CC" coins to fit everyone's taste and budget. Some of us can derive just as much pleasure from owning an 1876-CC quarter in Fine condition, or an 1882-CC silver dollar in MS-60, as others do owning one of the elite coins in the Carson City series.

I invite any of you that have not already done so to submit an article or a letter to the editor in which you describe your favorite "CC" coin or coins, for publication in Curry's Chronicle. The stories behind the coins and the testimonies of those who own them are part of the fascination we have with collecting them.

As for what this new year holds for all of us "CC" enthusiasts we might be given a foretaste during the January auctions. Certainly the spotlight will shine on some of the more notable issues from our beloved mint. Consider for instance, the 1876-CC Proof Liberty Seated dime for sale in Superior's auction. It is catalogued as the only such specimen in existence, although we know that this may only be a matter of semantics, since NGC lists four Specimen Strike 1876-CC dimes in its census report. Regardless of the terminology employed in describing these special dimes, we know that they are rare, and that whenever one of them sells, there's usually big bucks involved. Superior estimates that their Proof 1876-CC dime might fetch $100,000. If it does, it will set a record for this variety. Let's wait and see.

Then there's the finest known example of an 1873-CC gold half eagle, graded PCGS MS-62, scheduled to appear in Heritage's FUN sale during the second week of January. The consignor placed a $90,000 reserve on this rare little devil. Will he get it?

During the following week, Stack's is offering a Circulated example of an 1870-CC gold double eagle, which their cataloguer describes as an XF-40 piece (it's not certified). With what these bad babies have been bringing recently it will be interesting to see what this uncertified specimen realizes. Stay tuned.

There are numerous other "CC" coins scheduled for the auction block in January and after the dust settles, we should have a clear idea of how strong this market is. What are your predictions.

Let's make 2008 the year that C4OA's blogsite emerged as an active, highly interactive platform. Get involved. Submit something. Make it one of your New Year's resolutions to be a player and not just a spectator.

Merry Christmas To All

Merry Christmas and a Happy New Year to all C4OA Members!

Every time one Family Member asks me what I wish for Christmas, I want to scream out: A CARSON CITY COIN! Watching the last two postings, my kids would have to sell their houses to grant my wish!

I admire the Registry Sets and the Super Rarities, put please let's put some "CC" coins on the wish list. I can see Rusty Goe as Santa coming down the chimney and sprinkling some "good," some "fine," and of course some "very fine" "CC" presents into these stockings!

They don't demand that you hawk your wife and kids and they can start a child's interest on a road of total satisfaction in numismatics!

How do you do that? When I was young I couldn't imagine getting coins instead of toys or clothes. But today, the statehood quarter and presidential dollar issues give every one of us a reason every day to distribute these coins. Instead of dollar bills I get these new coinage issues at the bank and give them out. The faces the people make when they get one speak volumes! Maybe, just maybe, one of them will start collecting coins!

Great! Now us C4OA people are of course of the connoisseur "species" and that's well deserved!

Happy "CC" collecting in 2008!

RARE CC PROOF DIME IN SUPERIOR ORLANDO SALE

All CC fans! A rare 1876-CC Seated Liberty Proof dime will be sold in the Orlando Elite Auction January 5-6, 2008 by Superior Galleries. The coin is a PCGS Proof-65 and is the only specimen certified by PCGS. There are four known in NGC holders and one raw specimen in the Smithsonian Institute collection. Close inspection by the catalogers shows multiple impressions of the coining dies on a specially polished planchet. The coin exhibits "blue green & overlaying dove grey" toning on both sides giving it a fully original appearance. It is unknown as to why any Proof dimes were struck at the CC mint. Possibilities include presentation to dignitaries or perhaps an unofficial commemoration of the U.S. Centennial. The coin is in an old PCGS green holder. I certainly want to keep an eye on the auction of this special coin. Oh! What a coin to have!

"CC" GOLD FROM THE ELIASBERG SALE IN 1982

Twenty-five years ago, part one of the most famous collection of U.S. coins of all time sold at a Bowers and Ruddy auction in New York City. Billed at the time as "The United States Gold Coin Collection," everyone knew that these coins once belonged to Louis E. Eliasberg, Sr., and were now part of the estate he left to his family when he died in 1976. An example of every known date/denomination combination from the U.S. gold coin series was represented in this sale. Two special coins, an 1870-S three dollar gold piece and an 1822 gold half eagle, set new price records when they sold for $687,500 each. All told, the aggregate prices realized for the sale totaled just under $12.5 million, establishing another new record.

While none of the "CC" coins from this sale achieved such lofty price levels as the record-setters, there were some incredible specimens offered. The absolutely finest "CC" gold coin in the auction was the amazing 1876-CC half eagle, listed in the catalog as an MS-65, and realizing the top price in the "CC" category at $26,400. Today, this awesome piece is encapsulated in a PCGS MS-66 holder, and would probably bring at least ten times what it sold for back in 1982 if it were offered for sale.

Other Carson City gold coin highlights from the Eliasberg sale, held between October 27 and 29, are as follows: (Prices realized are in parentheses)

1870-CC $5, catalogued as a VF-30, but easily an XF-45 by today's standards - ($2,420)

1892-CC $5, catalogued as an MS-65, but now in an NGC MS-66 holder - ($4,400)

1870-CC $10, catalogued as a VF-20, but probably at least an XF-40 - ($3,575)

1874-CC $10, catalogued as an MS-63, and now in a PCGS MS-63 holder - ($17,600)

1879-CC $10, catalogued as a VF-30, but probably closer to an XF-45 - ($3,575)

1881-CC $10, catalogued as an MS-63, but now in an NGC MS-64 holder - ($3,800)
(Recently sold for $74,750 at auction.)

1892-CC $10, catalogued as an MS-65 to MS-67, now a PCGS MS-64 - ($9,900)

1870-CC $20, catalogued as a VF-30, but probably closer to XF-45 - ($22,000)

1890-CC $20, catalogued as an MS-63, and no doubt deservingly so - ($2,970)

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If you do the math on all of the above "CC" gold coins from the Eliasberg collection concerning their present values, you will discover that they have all appreciated in multiples of between ten and twenty times what they sold for back in 1982. The question is, where do we go from here? Will 2007 appear to collectors in 2032 as the "good old days" of pricing for "CC" gold issues? I think all of us can agree that 1982 sure appears that way right now.

COIN WORLD COVERS CURRY'S CHRONICLE FALL 2007 ISSUE

Greetings C4OA members. Have you checked out this issue of Coin World (Mon. Nov. 12, 2007)? Please do! On page 95 you will see a very nice review of the last issue (Fall 2007) of The Curry's Chronicle. The main theme of the review covers Ryan Baum's challenge medal (replicas with the reverse based off of Morgan dollars struck at the CC mint) specially made for each one of the sailors serving under him in Iraq. The obverse of his battalion coin proudly shows Teddy Roosevelt & the Romeo Rough Rider emblem. Also included are short but sweet reviews of our treasurer Paul Sudmeier's 4 coin 1893-CC final year of production set and My (Michael Parrott) 19 piece "real world" set of CC $5 gold half eagles. Now C4OA members who contribute articles to our Curry's Chronicle can get reviewed in a big time world publication like Coin World magazine! Way to go!!! Now...your turn!