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October 10, 2013

COIN OF THE WEEK

1889-CC $20 NGC AU58 CAC

 


1889-CC $20 Double Eagle NGC AU58 CAC - $9,250.00


1889-CC $20 NGC AU58 CAC. One of the nicest 1889-CC Double Eagles for under 10K you will ever see, this highly lustrous and really premium quality Type 3 double eagle gold coin from Carson City is only matched by 9 other specimens with only others with claims to higher grades. Yup, only 10 coins including this really exceptional specimen have been given the green sticker stamp of approval by CAC. You have the opportunity to view this coin first , for only $9,250.00 total, we will include insured express shipping and our own Photo-Specimen.

Authorized in 1863, the Carson City Mint began coinage in 1870 and continued until 1893. It was then operated as a government assay office until 1933 when it was closed as a cost cutting measure. During its operation it made fifty-seven different types of gold coins. It also converted gold bullion and oar into gold bars, which were shipped to San Francisco for coinage there. Coins issued from the Carson City used the CC mint mark. Originally established to convert silver from the Comstock Lode to coinage, the Carson City Mint also processed gold in to gold coins.


When first discovered, gold and silver found in Nevada had to be shipped over the Sierra Nevada Mountains to the branch mint in San Francisco. This trip was dangerous and expensive. The Nevada mine owners asked Congress to establish a branch of the mint in their state, and legislation was enacted in 1863. Carson City was chosen as the location for the mint facility because it was near some of the major mining sites.


Between 1870 and 1873, mintage at Carson City was limited because of political reasons. The Mint Superintendent, H.F. Rice was dismissed because of claims that the mint issued some light weight and debased coins. Rice could have been executed. This partly verified information led to frequently seen edge test marks on the gold pieces of this period. Those who wanted the Carson City Mint closed use this discovery to urge the closing. Their real motive was that they wanted the lucrative shipping contracts to move the oar to San Francisco.


The first coin produced was the Liberty Seated 1870-CC dollar. A person who had deposited silver at the mint received 2,303 silver dollars. Shortly afterwards, gold eagles, half eagles and double eagles were struck. The Mint did not strike coins made of copper or nickel, and it never struck half dimes, gold dollars, quarter eagles, or three dollar gold coins.


In 1873 silver was demonetized; however, the Bland-Allison act of 1878 required the Treasury Department to coin two to four million sliver dollars each month. The act attempted to keep silver at artificially high levels. Large quantities of Morgan dollars were minted, but they did not circulate well and were kept in Treasury storage vaults.


In 1884 Democrat Grover Cleveland became president. He fired all the Republican appointees including the top officials at the Carson City Mint and shut it down. A year later it reopened as an assay office. When Republican Benjamin Harrison became president, he fired Cleveland’s appointees and replaced them with Republicans. In 1889 coining operations resumed.


In its population report, CAC shows 10 1889-CC coins in AU58 condition with 5 higher.


AND NOW YOU HAVE A CHANCE TO PURCHASE THIS 1889-CC $20 NGC AU58 CAC. BUY IT HERE !



Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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