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March 14, 2014

COIN OF THE WEEK

1870-CC Half Dollar 50C Seated Liberty Dollar NGC AU50
Click on Coin Image to enlarge


Dear Fellow Numismatist, Coin Person, this week we added a new category, simply titled "Rarities". The Rarities category will list only coins that are $25,000.00 and higher, in all denominations, metals etc. Please follow this link to view the 1st category listing http://www.usrarecoininvestments.com/coins_for_sale.htm.

This week you'll see some amazing Colonial coinage, incredible gem half cents, large cents, and early type coins added. Please bear with us as we will be adding listings daily until we are caught up. As Always, Thank you for your business! And now here's our special coin of the week, this week from America's wild wild west days, a superior 1870-CC 50 cent piece. See below:

1870-CC Half Dollar 50C Seated Liberty NGC AU50 - $26,500.

1870-CC Half Dollar - 1870-CC 50C Seated Liberty NGC AU50. When you research this amazing Carson City rarity you will find that In its population report, NGC shows only 5 1870-CC half dollars certified at the AU50 grade level. This is a major rarity in the seated half dollar series and one that is so nice it will surely not be seen again for some time. Please examine the enlarge image option and look closely at this monster.

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

This attractive Carson City 1870-CC half dollar shows light toning and only a trace of wear on Liberty’s knees, arms, and head. The outline of the clasp on Liberty’s right shoulder is raised as is the garment line from the clasp to the right side of her neck. The details of her clothes are sharp. Her foot is clearly separated from her sandal. On the reverse, only a trace of wear is present on the eagle’s neck and wing tips. The surfaces show only minimal abrasion marks with no other distractions. They are a mixture of light violet, tan, and gold with lustrous highlights of silver gray. The colors show the coin’s authenticity.

Christian Gobrecht designed the Seated Liberty half dollar. The obverse depicts Liberty seated looking over her shoulder to the left. She balances the Union Shield inscribed LIBERTY with her right hand and holds a staff on which is placed a Phrygian cap in her left. There are seven stars to the left and six to the right interrupted by her head and the capped pole. The date is below. The reverse shows the heraldic eagle looking left. It is surrounded by the required inscription and the denomination written as HALF DOL. below. Dentils are around the periphery of both sides of the coin.

There were five varieties of the Seated Liberty half dollar. Type 1, 1839-1853 and 1856-1866 (resumed with weight standard of Type 2) has no motto above the eagle. It weighed 13.36 grams. Type 2, 1853, added rays around the eagle and arrows at the date to indicate the change in weight to 12.44 grams. Type 3, 1854-1855, had the rays removed but retained the arrows on each side of the date. The weight remained the same. Type 4, 1866-1873 and 1875-1891 (resumed with weight standard of Type 5) had the motto IN GOD WE TRUST added to a banner above the eagle. The arrows at the date were removed. Type 5, 1873-1874, had the arrows at the date added back to show the change in weight to 12.50 grams.

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.

Gobrecht was the third Chief Engraver at the United States Mint. He was born in Hanover, Pennsylvania in 1785. His father was a German immigrant, and his mother traced her ancestry to the early settlers of Plymouth, Massachusetts. Gobrecht married Mary Hewes in 1818. One of his early positions was as an engraver of clocks in Baltimore. Later he went to Philadelphia where he became a banknote engraver. He invented a machine that allowed one to convert a three-dimensional medal into an illustration. This was an excellent job and Gobrecht was understandably reluctant to work for the Mint for less money than he was making at the engraving firm. In order to persuade him to leave, Mint Director Robert Patterson prevailed upon Chief Engraver William Kneass, who had had a stroke, to take less in salary so more money would be available to hire Gobrecht on a permanent basis. In 1826 Gobrecht did his first work for the Mint as an assistant to Kneass. After Kneass’ stroke, Gobrecht did all the die and pattern work for the Mint. He became Chief Engraver in 1840 and served until his death in 1844. He was famous for his Liberty Seated motif, which was used for all denominations of silver coinage including the half-dime, dime, quarter dollar, half dollar and silver dollar. He also designed the Liberty Head gold eagle, a motif that was also used on the half-cent, the cent, the gold quarter eagle, and the gold half eagle.

In its population report, NGC shows 5 1870-CC half dollars certified at the AU50 grade level.

Very Truly Yours,

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


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