1878-CC $5 Gold CC Coin of the Week - 11-21-2010

Thank you Belay

Hi words of praise indeed from without a doubt our COW posts top writer. I thank you for that!

I always try to include some historical perspective when discussing my coins....that aspect is and always will be one of my underlying attractions to the field of Numismatics. I sometimes will hold one of my historic rare "CC" coins and conjur up fantasy stories about those who once owned and used them back in their day...perhaps someone famous like Mark Twain may have owned one of my coins for a time...who knows?

I truly do believe that the coins have stories to tell....some of those stories would probably amaze us. It's a great thing to have that physical object ("CC" coin) as a tangible connection to those fascinating and special times from all those years ago, and I seek in some small way to portray those feelings in my articles.

the drummer

Great stuff there, Drummer. Interesting that the period was refered to the "gilded age", a phrase "coined" by Virginia City's most famous resident, Mark Twain.
Don't be too hard on yourself about your 1878-CC half eagle, I think it looks great. I think too much is made on having the best looking example possible. On a date such as your half eagle here, it is something unique just being one of the 90 possible owners of such a rarer date specimen. It is an attractive coin with great color and, in agreeing with you, still has plenty of detail left through even wear that could have come from being used by it's previous possessors as payment for the rent, or to buy groceries, or sliding accross a table to raise on that inside straight. Though it has stories it will never reveal, it has history that is obvious. Job well done.
-R-

Thank you Randy

Yes...my 1878-CC half eagle looks way good for the grade but I'd still love to uprade someday. Just trying to locate any example that has eye-appeal is difficult to do. For whatever odd reason, I actually seem to encounter more 1870-CC $5 key dates than I do this elusive 1878 date.

I look forward to your next COW post R!

the drummer

Randy's point is particularly appropriate for Carson City coins. As we all know, baggy and dinged up surfaces are to be expected on coins from the little Nevada mint.

Frankly, I find this characteristic of CC minted gold coins very interesting and certainly worthy of a detailed study in and of itself. I would really like to know what was so very different about the treatment of these coins once they were minted.

Did the rough treatment begin at the mint or only afterward? If afterward, what was different about their entry into commerce versus the gold coins minted in Philidelphia or San Francisco?

Randy described a coin transferring from one person to the other across the counter during a typical transaction. Here too, what could be so different about the Nevada public's daily use and treatment of their pocket money as compared to the funds in the purse of an east coast shopper?

Despite all we know, there remains a heck of a lot more to learn about our favorite little mint and its coins.

Belay Off

Hi Belay

Interesting Point. As we know, "CC" coins and many coins from the "S" mint were heavily used and not saved. My guess as to why they are so marked is that perhaps way out west, where distances between towns and settlements were great, people used horses. Perhaps the coins were placed loosely in the saddle bags and with all the miles of rubbing against each other, they became baggy. It's just a ventured guess here, but more than likely, horse transportation played at least some role in creating the now famous "CC" baggy look.

the drummer

Alright guys, let me tell you what I heard. People out West did not trust paper currency, opting to put their trust in the precious metal, such as gold and silver. Five dollar gold pieces minted in western mints in particular saw lots of commercial action in the western region, where paper was used more so back East. Carson City minted coins that stayed in the area, saw more of this kind of action which could offer an explaination of such wear. The extensive "baggyness" was mostly due to the careless handling by mint employees and others during bagging and transportation. Just something I read somewhere.
-R-