1893-CC $20 MS(PCGS#9023)

Spring 2023 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

7115

等级

AU53

价格

59,324

详细说明

1893-CC Liberty Head Double Eagle. AU-53 (PCGS). Lustrous honey-rose surfaces are sharply to fully defined throughout the design. 1893 was a momentous year for the nation's economy. The expansion of the railroads was funded largely through copious loans that proved to be high risk as creditors realized that the new railroads did not produce immediate dividends and began to call in their chits. This caused a significant credit crunch that rippled through the financial system as railroads could not pay back their immediate creditors, who in turn had overextended themselves with larger banking houses. The resulting panic was felt nationwide as more than 15,000 businesses of various types including some 500 banks defaulted on their loans and shut down. Meanwhile, the long struggling Carson City Mint was facing its own troubles as the Comstock Lode had basically dried up by this time, essentially eliminating the Nevada facility's raison d'etre. The 18,402 double eagles struck at Carson City in 1893 proved to be part of the mint's swan song when all coin production ceased by the end of the year and its doors finally shut. While the mintage figures are nowhere near the mint's high water mark in 1876 or even just three years earlier, the 1893-CC double eagle is exceptional in that unlike most previous issues which generally circulated locally, the majority were sent to overseas banks where they sat for decades. As coins were repatriated to an appreciative numismatic audience, many 1893-CC specimens were included and mostly in the higher circulated and lower Mint State grades. Because of this, this has proven to be an especially popular issue among collectors who wish just one double eagle from this historic mint, alongside Western gold specialists. This example will more than fit the bill and will find a position of honor in any cabinet. PCGS# 9023. NGC ID: 26C9. Click here for certification details from PCGS. Image with the PCGS TrueView logo is obtained from and is subject to a license agreement with Collectors Universe, Inc. and its divisions PCGS and PSA.