Only the 1889-CC is scarcer than the 1879-CC among Carson City Morgan dollars, and the so-called “Capped Die” VAM-3 overmintmark ranks among the most significant varieties for the entire Morgan dollar series. A large CC was punched over a small CC, and the engraver crudely attempted to efface the underlying letters. Early die states show extreme roughness in the mintmark area, while in later die states the roughness diminishes (such as with the Gem example we are offering in our December 13-14 Beverly Hills auction).
Conversely, in late die states the G in GOD is completely filled, also as shown on this coin.
A lustrous Gem example, this coin displays reddish-tan and deep blue toning at the margins, yielding to silver centers. Cartwheel mint luster radiates from the frosted surfaces. Liberty’s cheek is clear of all but one or two tiny marks, and the obverse fields are likewise free of bagmarks and abrasions. A few minor contacts exist on the reverse, but there are no heavy or distracting abrasions, and the strike is satisfyingly sharp. PCGS reports no numerically finer Capped Die examples at the MS65 level, with a mere three examples meriting the 65+ grade.
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