Introduction
The 1870-CC Double Eagle is one of the rarest and most valuable gold coins ever minted in the United States. With a history wrapped in mystery, a limited mintage, and an aura of intrigue, this coin is a true treasure in the world of numismatics. But what makes it so special? Why is it worth a fortune? Let’s dive deep into the fascinating world of the 1870-CC Double Eagle and uncover its rich history, rarity, and value.
What is the 1870-CC Double Eagle?
The 1870-CC Double Eagle is a $20 gold coin minted at the Carson City Mint in Nevada. The “CC” mintmark signifies that it was produced at this historic facility, which operated during the 19th century to refine gold and silver from the rich mines of the West.
History of the 1870-CC Double Eagle
1. The Carson City Mint’s Beginnings
The Carson City Mint was established in 1863 to help process the enormous gold and silver deposits found in the Comstock Lode. However, due to delays in construction and funding, it wasn’t until 1870 that it finally began producing coins.
2. A Historic First-Year Coin
The 1870-CC Double Eagle was the very first $20 gold piece struck at the Carson City Mint. This alone makes it historically significant, but its extreme rarity adds to its mystique.
3. Limited Mintage and Rarity
Only 3,789 pieces were struck in 1870, and very few of them survived. Over time, many were melted down, lost, or heavily worn, leaving only a handful in collectible condition today.
Why is the 1870-CC Double Eagle So Rare?
1. Extremely Low Survival Rate
Of the original 3,789 coins, experts estimate that fewer than 40 exist today. Most were lost or heavily circulated, making high-quality examples incredibly rare.
2. Unique Variations in the Coin
There are known differences between the standard-issue 1870-CC Double Eagles and a unique specimen believed to have been hand-engraved at the mint. This single coin has fueled speculation and intrigue among collectors.
3. High Demand Among Collectors
As one of the most sought-after coins in U.S. history, demand for the 1870-CC Double Eagle far outweighs supply. This has caused its value to skyrocket at auctions.
Design and Features of the 1870-CC Double Eagle
1. Obverse (Front) Design
The obverse features a classic Liberty Head design, created by James B. Longacre. Lady Liberty is adorned with a coronet inscribed with “LIBERTY,” with thirteen stars surrounding her to represent the original colonies.
2. Reverse (Back) Design
The reverse showcases a majestic heraldic eagle clutching an olive branch and arrows, with a shield on its chest. The words “UNITED STATES OF AMERICA” and “TWENTY D.” (denoting the $20 denomination) encircle the eagle.
3. Mintmark and Special Features
The “CC” mintmark, located below the eagle, is what makes this coin stand out. Some versions have slight variations, adding another layer of uniqueness to each piece.
Current Market Value of the 1870-CC Double Eagle
1. Auction Records
In recent years, the 1870-CC Double Eagle has fetched astronomical prices at auctions. High-grade examples have sold for over $1 million, and even lower-quality ones can command hundreds of thousands.
2. Factors That Influence Value
- Condition (Grade) – Coins in better condition (higher grades) fetch significantly higher prices.
- Historical Significance – Its status as the first Carson City Double Eagle adds to its value.
- Collector Demand – With so few available, competition is fierce among collectors.
3. Investment Potential
The 1870-CC Double Eagle remains one of the most valuable gold coins ever minted. Its rarity and desirability make it an excellent long-term investment.
Famous Owners and Notable Sales
1. Legendary Numismatists
Several of the world’s top collectors, including Eliasberg and Bass, have owned this rare coin. Their collections have set records in the numismatic world.
2. Notable Auction Prices
- 2014: A high-grade example sold for $1.62 million.
- 2021: A lower-grade coin still fetched nearly $400,000.
How to Identify a Genuine 1870-CC Double Eagle
1. Verify the Mintmark
Ensure the coin has a clear “CC” mintmark below the eagle on the reverse.
2. Check the Weight and Composition
The coin should weigh approximately 33.44 grams and be composed of 90% gold and 10% copper.
3. Authentication Services
If you think you’ve found one, send it to a professional grading service like PCGS or NGC for authentication.
Conclusion
The 1870-CC Double Eagle is more than just a coin—it’s a piece of history. Its rarity, connection to the Wild West, and high collector demand make it one of the most fascinating and valuable coins ever minted. Whether you’re a collector, investor, or history enthusiast, this legendary gold piece continues to capture the imagination of all who come across it.
FAQs
1. How many 1870-CC Double Eagles still exist?
Experts estimate that fewer than 40 examples have survived, making it one of the rarest U.S. coins.
2. Why is the 1870-CC Double Eagle so valuable?
Its combination of low mintage, high demand, and historical significance makes it an incredibly valuable collector’s item.
3. How can I tell if I have a real 1870-CC Double Eagle?
Look for the “CC” mintmark, verify the weight and gold content, and get it authenticated by a trusted grading service.
4. What is the highest price ever paid for an 1870-CC Double Eagle?
A high-grade example sold for $1.62 million at auction, making it one of the most expensive U.S. coins ever sold.
5. Is the 1870-CC Double Eagle a good investment?
Yes! Due to its extreme rarity and increasing demand, it remains one of the most sought-after investment coins in the numismatic world.