1889-CC $1 MS (PCGS# 7190)

2006 October Dallas Signature Coin Auction #428

  • Auctioneer:
    Heritage Auctions
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Lot Description
1889-CC $1 MS64 NGC. One of the Great Triumvirate of Carson City Morgan dollar keys along with the 1879-CC and the 1893-CC, the 1889-CC is nonetheless the rarest and most desirable of the trio, by far. Most of the original mintage of 350,000 pieces entered circulation and, according to Bowers, small groups and singles were paid out from the Treasury in the 1930s and beyond. Bowers' silver dollar Red Book adds this tantalizing note concerning the issue: From pre-1964 holdings stored out West, several bags of Mint State coins were held in Nevada and were described to me years ago. I had a chance to buy a bag, from Ben Stack, but did not. Where they are now, I do not know. However, as Mint State pieces are few and far between on the market today, some of these groups must still be tightly held, if, indeed, reports of them are true. After a while one tends to be a skeptic. On the other hand, in numismatics there are no end of surprises, and every few years an "impossible" hoard or large group or something or other comes on the market to surprise and delight all of us. It appears from the certified population that no Mint State bags were ever released, as the total of Mint State survivors at NGC and PCGS combined is less than 900 pieces, counting resubmissions. It also appears certain from the high prices that collectors pay to own Choice examples such as the present coin--which would certainly draw out any existing hoards--that the likelihood of a Mint State bag appearing in the future is, shall we say, minuscule. The present coin is brilliant and untoned, with superlative, radiant cartwheel luster but little field-device contrast. The strike is bold, and only a few tiny abrasions are seen, completely consistent with the grade. A tiny die crack runs through the 889 and to star 13, invisible without a loupe. The exuberant luster is this coin's strongest suit--not that it has any particular weaknesses. This is, in a word, an enormously appealing and highly collectible coi
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