"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.