The American Numismatic Association (ANA) Platinum Night auction, hosted by Heritage Auctions from August 13-18, will spotlight two extraordinary gold coins: the 1870-CC $20 double eagle and the 1883 Coronet gold $20 double eagle. These rare and valuable coins hold remarkable historical and collectible significance, making them highly anticipated offerings for collectors. This article dives into the unique qualities, history, and expert valuations of these coins.
| Coin | 1870-CC $20 Double Eagle | 1883 Coronet Gold $20 Double Eagle (Proof-Only) |
|---|---|---|
| Mint Location | Carson City Mint | Philadelphia Mint |
| Mintage | 3,789 | 92 Proofs |
| Surviving Examples | Estimated 65 in all grades | Estimated 32 in all grades |
| Condition of Highlight | Extremely Fine 45 (Numismatic Guaranty Co.) | Proof 65 Deep Cameo (Professional Coin Grading Service, CAC sticker) |
| Visual Characteristics | Light wear, pleasing orange-gold surfaces with minor abrasions | Bold orange peel effect, frosty relief, some iridescent toning |
| Recent Sale Comparison | Sold in April 2021 for $384,000 | Similar coin sold in January 2021 for $336,000 |
| Collectibility | Highly collectible due to rarity, historical significance | Valued as a classic rarity, Proof-only issue with high-quality survival |
| Expert Insight | Rusty Goe notes collectors may pay premium for quality | John Dannreuther cites high quality and unique contrast as notable traits |
1870-CC $20 Double Eagle: A Rarity from the Carson City Mint
Historical Background
The 1870-CC $20 double eagle was the first $20 gold coin minted at the Carson City Mint. Of the 3,789 coins originally struck, none have survived in Mint State condition, and only an estimated 65 remain today in all grades. This coin is one of the rarest in American numismatics due to its limited mintage and the harsh conditions it faced in circulation.
Coin Description and Condition
Heritage Auctions is offering an example graded Extremely Fine 45 by the Numismatic Guaranty Co. (NGC). It exhibits light wear, with a sharper reverse than obverse and attractive orange-gold surfaces. The few abrasions present are minor, enhancing the coin’s visual appeal. In April 2021, a similar example sold for $384,000, underscoring the high demand for well-preserved coins from this mintage.
Collector Insights
Rusty Goe, in his book The Confident Carson City Collector: Volume 1, emphasizes that collectors may be willing to pay a premium for high-quality examples due to their scarcity. Many existing specimens show significant abrasions or damage, making this relatively clean example an exceptional find. The coin’s association with the early days of the Carson City Mint, and the pride felt by its original workforce, adds a historical charm that resonates with collectors.
1883 Coronet Gold $20 Double Eagle: A Proof-Only Rarity
Overview and Production
Unlike the 1870-CC double eagle, the 1883 Coronet gold $20 double eagle was never intended for circulation. Only 92 Proofs were minted at the Philadelphia Mint to cater to collector interest, making it a classic rarity. Of these, around 32 are estimated to survive, with some bearing significant signs of preservation.
Condition and Appeal
Heritage Auctions is offering an example graded Proof 65 Deep Cameo by the Professional Coin Grading Service (PCGS), complete with a green Certified Acceptance Corp. (CAC) sticker. The coin boasts an eye-catching orange peel effect on the fields and a frosty relief, giving it a bold contrast that appeals to collectors. This particular example has also retained some natural iridescent toning, a feature that enhances its allure.
Market Performance and Demand
This coin was previously offered in 2017 with an estimate of $200,000 to $300,000 but did not meet its reserve. In 2021, a similar Proof 65 Deep Cameo example (without a CAC sticker) sold for $336,000. This recent sale reflects the high market demand for these proof-only gold coins. Numismatist John Dannreuther notes in United States Proof Coins: Volume IV: Gold that the 1883 issue is particularly well-crafted, with many surviving examples displaying exceptional quality.
Expert Insights and Market Value
Rusty Goe’s Perspective on the 1870-CC Double Eagle
Goe emphasizes the historical and collectible value of the 1870-CC double eagle. He advises collectors to prioritize examples with aesthetic appeal, even if they come with a higher price tag, as many survivors of this mintage bear heavy abrasions. The coin offered by Heritage is described as an exception, with its visual appeal intact.
John Dannreuther’s Take on the 1883 Proof Double Eagle
Dannreuther discusses the unusual survival rate of the 1883 proof-only issue, speculating that some of these coins might have been sold or spent by collectors who originally purchased them for a premium. He also notes that the 1883 issue often features high-quality craftsmanship, adding further interest to its collectability.
Conclusion
The 1870-CC and 1883 Coronet gold $20 double eagles represent some of the most fascinating pieces in American coinage. The historical significance, rarity, and remarkable craftsmanship of these coins make them sought-after treasures for numismatists and collectors alike. These upcoming Platinum Night auctions provide a rare opportunity to acquire pieces of American history, capturing the spirit and pride of their minting eras.
FAQs
What makes the 1870-CC $20 Double Eagle special?
The 1870-CC $20 Double Eagle is notable as the first $20 gold coin minted at the Carson City Mint. Only 3,789 coins were struck, and today, it is extremely rare, with about 65 known survivors in various grades. This coin is highly valued for its historical significance and limited availability, especially in high-quality grades.
Why is the 1883 Coronet Gold $20 Double Eagle so rare?
The 1883 Coronet Gold $20 Double Eagle is a Proof-only issue, meaning it was never intended for circulation, and only 92 pieces were minted at the Philadelphia Mint for collectors. Of these, approximately 32 are believed to have survived, making it a highly sought-after rarity with exceptional craftsmanship.
What is the significance of the Extremely Fine 45 grade for the 1870-CC Double Eagle?
An Extremely Fine 45 grade indicates a well-preserved coin with light wear and attractive surfaces. The example offered by Heritage Auctions showcases an eye-appealing orange-gold surface with minimal abrasions, distinguishing it from typical survivors that often show significant wear or heavy marks.
Why do collectors value Proof coins like the 1883 Coronet Gold $20?
Proof coins are valued for their high level of detail and limited mintage, which make them rarer and often more visually appealing than circulation coins. The 1883 Coronet Gold $20, in particular, features a beautiful orange peel effect and frosty relief, adding to its visual charm and collectible value.
How much did similar coins sell for in recent years?
A similarly graded 1870-CC $20 Double Eagle sold for $384,000 in April 2021. For the 1883 Coronet Proof, a comparable Proof 65 Deep Cameo without a CAC sticker sold for $336,000 in January 2021, reflecting high demand for these rare and well-preserved coins.