1889-CC $20 Gold - CC Coin of the Week 9-14-2009

1889-CC $20 Double Eagle is the coin of the week for September 14-th,
2009.

Carson City Mint was closed after 1885 and in 1889 production was resumed. These are the first $20 from this mint after 1885.

Circulation strike mintage: 30,945

This coin is fairly scarce in all grades.

At present, XF-40 can be bought at $2,000 - $2,500
AU-55 at $4,000 - $5,000
MS-60 at $9,000+

If anyone has interesting images of the 1889-CC $20 coin,
stories related to this coin, varieties, etc., please,
share them with the rest of the membership. For example,
what is your opinion about CAC sticker?

Week of September 21-st a different Carson City coin will be
featured in this place. Coins will be chosen randomly.
If anyone wants to propose a coin to be featured, please,
contact me, John Armonas at apsc@ampolymer.com or Belay Off or
Randy Clifton or Garry Naples. Four of us are the commitee that
will coordinate work of this category "The Coin of The Week".
The idea is to avoid a chaos.

This is a new category that should increase membership's interest and
participation in the Forum.

I hope to hear from you all!

The '89 CC Double Eagle is a great choice for our first "Coin of the Week"

In my often sought, world renowned opinion (not) the date is under valued, not only due to its relative scarcity but also the uniqueness of its 1889 date when the CC Mint started up again after being shut down.

I am not a great proponent of the CAC system. From what I have learned, it's more about creating a new tool for marketing coins than anything else. The closer one looks into its formation, the more self-serving it appears.

In an article I wrote, I poked fun at the grading agencies comparing coin grading to boxing...the sweet science. But in reality, I seriously doubt that the graders at CAC have skills materially different or experience substantially greater than their counterparts at PCGS or NGC.

Belay Off

I agree. I dont know what the CAC point is. The Early American Coppers Society (EAC) also assigns grades to copper coin types but is not compelled to put a sticker on it.

For more information about 1889-CC $20 coin go to "The Mint on Carson Street" by Rusty Goe p. 419 and "Gold Coins of the Carson Mint" by
Douglas Winter, pp.189-190. According to these authors 1889-CC $20
is one of three most common Carson City double eagles. In the mid-1990's a substantial number of pieces came back from Europe. There is a large quantity of uncirculated coins but only one example is known
in MS64 PCGS. Survival estimates in all grades: 1,100 - 1,250

John Armonas

If CAC sticker is just a tool for marketing, what about * (star)
designation by some of the grading services?

OGH (old green holder). In our local coin club,(Euclid, OH) we have members that will buy any coin in a OGH sight unseen, because the
grading was superior in the beginning compared to today's grading.

What are your thoughts on that topic?

John Armonas

I believe the star designation is also subjective. It seems to be primarily used to create a market for toned coins. I have seen untoned coins on the internet with star designations but I have never had one in hand to examine.

Rick Snow puts a Photo Seal sticker on some Indian cents and Flying Eagles he sells, not all. The purpose of that is to signify he agrees with the grade of the coin (by NGC and PCGS only) and he is guaranteeing value to some extent if the coin is resold to him. I believe he has credibility because he has catalogued all known varieties of Indians and Flying Eagles and does an excellent job of keeping the market active in those coin types. I have bought three coins from him in the past, none Photo-Sealed, curiously.