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Sale 32
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Lot 2554
1871-CC $20 Liberty. NGC graded MS-64. Light golden toning. Well struck with semi prooflike surfaces. A word of caution: you will sell your soul to the Devil to own this coin, and so will many others. Therefore, bidders should plan ahead for stiff competition. We present the most remarkable 1871-CC double eagle of them all, a coin not seen in some time, a resplendent Mint State 64 specimen. Although NGC suggests a grade of Mint State 64, some observers who are familiar with this coin's heritage may assign an even higher grade. The piece displays spectacular luster and color, strike definition and rims. What's even more remarkable, there are no hidden "gotchas!" such as scratches in the hair or repaired rim bruises. Therefore, among 1871-CC twenties this is it, this is The Coin to own if your tastes run to this most aristocratic gold denomination of them all, the $20 series. Most are in the EF range and, often, are lifeless and dull in appearance with plenty of marks. The present '71-CC is quite bright and has so much "life" to it you'll come to love it at first sighting. The photographs do it justice. But first-hand experience examining it yourself will double the pleasure.
For the record, a mere 17,387 1871-CC double eagles were minted. Today, it is believed that only about 150 to 200 exist in the entire world of numismatics, making it the second rarest Carson City coin of this denomination, on the heels of the 1870-CC (not nipping the heels, for only about 50 are known of that earlier, rarer variety).
Although later Carson City double eagles seem to have been exported in quantity, this does not seem to have been the case for the first several years. It is our view that most if not all 1871-CC coins circulated regionally, where they experienced heavy use in commerce. At the time, $20 gold pieces did not circulate at all in the East and Midwest, where paper money was the preferred medium. Only on the Pacific littoral and into the nearby interior of the western states could one find $20 gold pieces circulating. Because of this it is a general rule of thumb that Carson City and San Francisco twenties are usually seen in significantly lower grades than are Philadelphia issues.
When evaluating any double eagle the subject of eye appeal is quite important. Often, early Carson City coins of all denominations lack this feature. Not so with the present 1871-CC. A glance or two at its photographs will captivate you into bidding liberally (we hope), entirely justified based on the rarity and unmatched quality. According to Mitch Battino of Hudson Coins in New York (who has handled the sale of this coin on two occassions) and confirmed by noted gold coin specialist Paul Nugget, this is the discovery coin found in Europe by Eddie Shaprio in the late 70s. "There has never been any coin before or since approching the quality of this monumental coin." The finest Pop 1: none finer by either service.
Bidding will commence at $375,000 (PCGS # 8961) .
Estimated Value $375,000-UP.
Sold privately by Eddie Shaprio. First auction appearance: The A. Bernard Shore Auction Feb. 1988, lot 4414 as the "Finest Known", when we owned an operated Superior Galleries (prior to 1994). Last appeared at the 2004 ANA Heritage, lot 7586.
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