1874-CC Double Eagle CC Coin of the Week - 4/17/2011

After the political posturing and intrigue that resulted in the revaluation of silver in 1873 and the resignation of H. F. Rice as Superintendent of the Mint in Carson City and replacement of the Coiner and Assayer, the new Superintendent Frank Hetrick settled into his job and so began the next era of coinage at the Mint.


The year 1874 saw increased production in all denominations of gold. In general, gold production increased 513%. Double Eagles increased five fold from 22,410 to 115,085. In fact, Double Eagle production in 1874 easily surpassed production in the three prior years.

As such, survival rates for 1874 Double Eagles soared into four figure ranges for the first time, which has lasted thru 1877. Rusty Goe estimates 2,000 to 2,500 in all grades, the majority of which, 1,600 to 2,000 are known in XF to AU. Only 18 to 30 are estimated in uncirculated. Like all other Double Eagles, the finest known do not eclipse gem mint state. The 1874-CC is not even known in choice mint state, settling in at 2 specimens graded MS-62.

1874 was the ninth year of the Motto style reverse. All Carson City Double Eagles feature the Motto style reverse.

One of the more recent auction appearances is one of three PCGS MS61 specimens, ex. Henry S. Lang, which sold in 2002 for $17,250.

I recently found the MS-61 example mentioned by Rusty below that sold in the October 28, 2010 Heritage auction. Thanks very much for the comments! Nice example you have, Belay.

Gary,

Considering the early 1870's date of this coin, the 1874-CC Double Eagle is not as pricey as one might imagine. With the excep[tion of the 1874-CC half dollar, the other denominations minted in Carson City that year are more expense, in particular the dime and the $10 eagle which can be prohibitively expensive in almost any grade.

GarryN,

Your observation that

Double Eagles increased five fold from 22,410 to 115,085. In fact, Double Eagle production in 1874 easily surpassed production in the three prior years.

sheds light on how the emerging production levels on the Comstock affected gold coin output at the Carson Mint.


The latest sale of an MS-61 1874-CC $20 gold piece took place at Heritage's October 2010 Stamford, CT Coinfest auction. The price realized was $28,750.

Glad to see you are keeping the COTW tradition going strong.

Rusty

Excellent post GarryN!!! Beautiful coin there Belay!! I never realized how tough the 1874-CC double eagle is in uncirculated condition.

Loosechange

Hey Garry,
First, my apoligies to my fellow COWboys, I had a lot of iron in the fire lately and haven't been able to do any posting, but I'm all cought up now.
Nice article on the 1874-CC double eagle. Amazing how the prices jump for the uncirculated examples, but with so few, it goes along with the territory. Only two specimens that grades as high as MS-62, that's wild! Well thanks again for your posting, Garry and keep the faith.
Soldier on, my fellow COWboys.
-Randy-

Garry,

I recently saw a Beautiful 74-cc Double Eagle with awesome Green Gold colors..... It was priced far above what my bank account could afford but it sure was neat to hold it in my hands and examine it up close for the few minutes that I did.

How incredible it must have been to have one or more of these magnificant golden rounds in your pockets back in the 1870's!

Another COWboy notch in the "111 gun salute" to Carson's Finest!

deepsouth......