Price: 1,150.00 - SOLD - 8/09/2011* Free Shipping and Insurance for coins at $10K or above.
1892-CC $5 (1892-CC Half Eagle) PCGS AU53. This branch mint 1892 Half Eagle was struck at the historic Carson City Mint in the next to last year of production at that mint. The coin has some muted luster remaining within its devices. The surfaces are clean for the grade and highly original. The coin was assigned a grade of AU53 by PCGS, but it could have been somewhat higher considering the presence of most of the design details. The strike is full on both sides with full lines of hair and feathers.
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 the Carson City Mint 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 Mint used the CC mint mark. Originally established to convert silver from the Comstock Lode to coinage, the mint also processed gold in to gold coins.
In 1890 the Sherman Silver Purchase Act required the federal government to purchase 4.5 million ounces of silver per month which was to be paid with bonds that could be redeemed for gold or silver. Much to the surprise of the officials, most bond holders chose gold, which depleted the governments gold reserve. This instability caused the panic of 1893, which led to the repeal of the Sherman Act and slowed the production of silver dollars. At the same time the Nevada mines were no longer as plentiful as they had been before. Combined with a low silver price, a scandal (a worker tried to smuggle gold out of the mint in his lunch box), and a struggling economy, the Mint Director, Robert Preston, ordered the Carson City Mint as a coining facility closed in 1893.
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