The 1870-CC Liberty Seated Dollar stands as a testament to American numismatic history, capturing the fascination of collectors and investors alike. While recent sales have seen this coin fetch impressive sums, there is no verified record of it breaking the $5 million mark. Nonetheless, its rarity and historical significance continue to drive its value upward.
Historical Context
Minted in 1870 at the Carson City Mint in Nevada, the 1870-CC Liberty Seated Dollar was among the first silver dollars produced at this facility. The Carson City Mint, operational from 1870 to 1893, was established to process the abundant silver from the Comstock Lode. Coins from this mint are distinguished by the “CC” mint mark, located beneath the eagle on the reverse side.
Mintage and Rarity
The 1870-CC Liberty Seated Dollar had a limited mintage of 12,462 coins. Over time, many of these coins were lost, melted down, or damaged, making surviving specimens exceedingly rare. Estimates suggest that only 200 to 265 examples exist today, with a mere 20 to 35 in uncirculated condition.
Design Features
- Obverse: Depicts Lady Liberty seated, holding a liberty cap on a pole in her left hand and a shield in her right. Thirteen stars encircle the design, representing the original states.
- Reverse: Features a heraldic eagle clutching arrows and an olive branch, symbolizing war and peace. The “CC” mint mark is prominently placed beneath the eagle.
Market Value and Auction Records
The value of the 1870-CC Liberty Seated Dollar varies based on its condition. In average circulated condition, it is valued at approximately $1,828. Uncirculated specimens can command between $29,917 and $52,598 or more
Estimated Values of the 1870-CC Liberty Seated Dollar
| Condition | Estimated Value (USD) |
|---|---|
| Good (G-4) | $1,312 |
| Very Good (VG-8) | $1,828 |
| Fine (F-12) | $2,112 |
| Very Fine (VF-20) | $3,327 |
| Extremely Fine (EF-40) | $5,448 |
| About Uncirculated (AU-50) | $6,616 |
| Uncirculated (MS-60) | $29,917 |
| Uncirculated (MS-63) | $52,598 |
Source: USA Coin Book
Factors Influencing Value
Several elements contribute to the coin’s value:
- Condition: Coins with minimal wear and higher grades are more valuable.
- Rarity: The limited number of surviving specimens enhances its desirability.
- Historical Significance: As one of the first coins minted at Carson City, it holds a special place in U.S. minting history.
Collecting Tips
For those interested in acquiring the 1870-CC Liberty Seated Dollar:
- Authentication: Ensure the coin is certified by reputable grading services like PCGS or NGC.
- Condition Assessment: Be aware that cleaned or damaged coins are less valuable.
- Market Research: Stay informed about recent auction results and market trends.
Conclusion
The 1870-CC Liberty Seated Dollar remains a coveted piece among numismatists. While it has achieved significant auction results, there is no substantiated evidence of it reaching a $5 million valuation. Its enduring appeal lies in its rarity, historical context, and the intricate artistry of its design.
FAQs
Why is the 1870-CC Liberty Seated Dollar so valuable?
Its limited mintage, historical significance as one of the first coins from the Carson City Mint, and the scarcity of surviving specimens contribute to its high value.
How can I verify the authenticity of an 1870-CC Liberty Seated Dollar?
Seek certification from reputable grading services such as PCGS or NGC, which assess and authenticate coins.
What does the “CC” mint mark signify?
The “CC” mint mark indicates that the coin was minted at the Carson City Mint in Nevada.
Are there counterfeit 1870-CC Liberty Seated Dollars?
Yes, due to its value, counterfeits exist. It’s essential to purchase from reputable dealers and seek authenticated coins.
Has the 1870-CC Liberty Seated Dollar ever sold for $5 million?
There are no verified records of this coin selling for $5 million. While it has achieved high auction prices, such a figure remains unsubstantiated.
