By James McCartney, Numismatist & Cataloger – Stack’s Bowers …..
The January 2017 Collectors Choice Online Auction offers nearly 700 lots and an impressive barrage of rarities including a delightful 1889-CC Morgan silver dollar certified MS-62 by PCGS (lot 91341). The 1889-CC Morgan dollar is one of the most desirable issues of the series, and Mint State survivors like the present piece are truly remarkable.
This Uncirculated key date is graced by subtle ivory iridescence that accents pearl-gray surfaces. The fields are smooth and satiny, very attractive for the assigned graded. The coin is boldly struck and thoroughly lustrous, and enthusiasts are sure to recognize this significant opportunity.
By 1885, the Carson City Mint had been striking coins for 15 years. The success of the nearby Comstock Lode had prompted government officials to push for a federal mint in the area and the Carson City Mint began producing coins in 1870. For a variety of reasons, it turned out that the cost of producing coins in Carson City was greater than shipping the bullion to San Francisco for coinage. Thus Treasury officials could not justify continuing to strike coins in Carson City and in 1885, production at that mint was terminated.
However, the inauguration of Republican President Benjamin Harrison in 1889 signaled a renewed faith in this coinage facility, and minting was authorized to resume that year. Dilapidated machinery and neglected facilities delayed actual production until October, allowing for only three months of productivity for that calendar year. The beautiful 1889-CC silver dollar featured here was a result of this limited production.
The 1889-CC ranks among the rarest and most desirable Morgan silver dollars and is undeniably the scarcest of the Carson City issues. Just 350,000 examples were struck, and unlike similar low-mintage peers, they were mostly absent from the Treasury releases of the 1950s and ’60s. Just a single coin was disseminated in the GSA Hoard of the ’70s. Even the most well preserved 1889-CC Morgans are often found heavily bagmarked and with subdued luster, though the present example is a nice exception.
This Mint State Carson City rarity is a featured highlight of our January 2017 Collectors Choice Online Auction, which offers nearly 1,700 lots of United States coins and currency. The auction was available for lot viewing at the FUN show in Ft. Lauderdale from January 5 through 8. To consign your collection to a future auction event, please contact our offices today at 1-800-458-4646 to speak with a Consignment Director and see what Stack’s Bowers Galleries can do for you.