1870-CC $10 MS(PCGS#8658)

June 2026 Showcase Auction U.S. Coins

Commissaire-priseur

Stack's Bowers

Numéro du lot

2241

Grade

VF30

Prix

82 350

Description du lot

The key date 1870-CC is a formidable rarity in problem free preservation irrespective of numeric grade. The present lot features an outstanding Choice VF certified by PCGS, a coin whose vivid reddish-gold and honey-orange surfaces retain hints of frosty mint luster. Softness of detail at the central high points is minor for the issue, and the detail is considerably bolder toward the peripheries. Some glossiness to the texture is noted for accuracy, as are wispy hairlines, although the only handling mark worthy of individual attention is a shallow graze in the left obverse field.<p>Even though gold had been known since 1850 in the area that would become Storey County, Nevada, it was the realization that large quantities of heavy "infernal blue stuff" was actually very rich silver sulfides with a smaller portion of gold that would put the region on the map. The Comstock Lode, as it came to be known, essentially started the large scale silver mining industry in America and remained a center of precious metal production for many years. The vast quantities of ore coming out of the West prompted discussions about opening another mint or at the very least an assay office in either Carson City in Nevada near the Comstock Lode or The Dalles in Oregon. Carson City won out in the end and Congress authorized the creation of the mint in 1863, though it would not be until 1870 when gold and silver coins would finally roll off the Mint's presses. The biggest obstacle to production at the new Mint was convincing miners to deposit their bullion. At first, the facility was unable to pay on receipt of the bullion in the form of freshly struck coins and, as a result, only $266,000 out of the roughly $8.3 million in ore extracted from the Comstock Lode that year ended up in the Carson City Mint's coffers.<p>The first delivery of 1870-CC eagles was made in mid-February when 1,644 of the new coins were delivered by the Chief Coiner, Ezra Staley. A total of 3,448 eagles were struck in the first half of 1870 by Staley and his replacement, Granville Hosmer. A further 2,460 coins were struck before the end of the year, yielding a total of 5,908 of the historic first eagles from the brand new Mint. While the mintage was small to be sure, it was actually more than the just under 4,000 eagles produced at Philadelphia and not that far behind the 8,000 struck at San Francisco. Even though there was a fair amount of press coverage on the new coins, with regular bulletins on deposits and coin deliveries, interest among the numismatic community at the time was practically non-existent. The coins were paid out to depositors, who in turn immediately placed them into circulation with no fanfare. There, they served the commercial needs of the local community for many years, suffering all the rigors of normal use.<p>Of the early eagle issues from Carson City, the 1870-CC is moderately well struck, though most examples seen today suffer from a rather weak strike and poorly defined details, conditions that are not unexpected. Estimates as to the number of surviving specimens varies somewhat: Doug Winter gives a figure of about 50 known, a number not far from the 40 estimated by Q. David Bowers in our Battle Born sale, while Rusty Goe (2020) believes the number to be slightly higher with between 60 and 75 surviving examples remaining for numismatists to appreciate. What few specimens there are, the vast majority are found at the VF level and below with precious few at the EF level and higher. Not a single Mint State example has ever been reported.<p>In Numismatic Galleries' sale of the Menjou specimen the cataloger wrote "1870-CC First year of issue. Very Fine and scarce. These Carson City Mint eagles are seldom offered in any condition and while we often urge discriminating collectors to acquire choice coins, these Carson City pieces really present a challenge. It would take many years and I doubt that even then could one acquire an Uncirculated set." This has certainly held true, as today the 1870-CC eagle is rated as one of the most desirable Liberty Head eagles and is certainly the rarest from Carson City. Its larger and more famous sibling, the double eagle, is only slightly rarer, making the acquisition of either issue a singular achievement. However, the double eagle cannot lay claim to being the first gold coin issue struck at the brand new Carson City Mint. That honor is the sole province of the 1870-CC eagle, and so it has a solid foothold in American numismatic history and will remain one of the most coveted of all the gold issues from this legendary Nevada mint.