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The Amazing Eliasberg 1889-CC Dollar, MS68 This coin will be offered as part of the Jack Lee Estate Collection in our 2009 January Orlando, FL FUN Auction, taking place January 7-11, 2009. Previews of this and many other numismatic treasures to be offered in this auction are available now at www.HA.com. Bidding will open in mid-December.
Carson City struck their first silver dollars in 1870, the first year of coinage operations. They continued to strike Seated dollars through 1873, and Trade dollars until 1878, in addition to subordinate silver denominations and gold half eagles, eagles, and double eagles. Beginning in 1878, all of the mints, including Carson City, were primarily occupied with the production of silver dollars as a result of the Bland-Allison Act. Gold coins were also in production at the various mints. Coinage of silver dollars continued at Carson City into 1885, when operations of that mint were suspended. The cessation of operations was due to the extreme expense of coinage in comparison to the benefits.
The Mint at Carson City opened again in the third quarter of 1889, with preliminary steps taken to prepare the facility for coinage. Rusty Goe writes in The Mint on Carson Street: "Carson City Mint employees were eager to get back to work in July of 1889. Four years of dormancy had left the facility in a state of disrepair, but clean-up crews removed the cobwebs, aired out the rooms, and dusted off the machinery in preparation for a resurrection of coinage operations."
The 1889-CC Morgan dollar was one of the lower mintage issues of the entire series, with just 350,000 coins produced. All of them were struck during the last three months of the year, with monthly production of 100,000 coins in October and November, and 150,000 coins in December. Many other less famous dates had lower mintages, but Goe explains that the many 1889-CC silver dollars met an early demise: "For unknown reasons, approximately 250,000 to 325,000 1889-CC silver dollars were eventually melted, securing this date as one of the keys to a set of Morgan dollars."
The physical beauty of the Eliasberg 1889-CC dollar was aptly described by Dave Bowers in the Eliasberg catalog: "prooflike. Delicately mottled golden toning over silver, prooflike surfaces. Extremely well struck. A gorgeous, splendid coin in all respects. This is certainly one of the very finest in existence of this exceedingly important date and mintmark, quite possibly the finest. An exciting coin for the connoisseur and specialist." Careful examination with magnification fails to reveal any surface marks on either side of this Superb Gem example. The strike is nearly full, even down to separation of the hair strands over Liberty's ear, almost always a point of weakness on these Morgan dollars.
Coin News, thanks for sharing, I truly enjoy this coin and can only imagine the joy of the new owner when to dust settles, not to mention I can only dream about the amount the winning bid will be!
I would have never guess that to be a MS68. Interesting though.
Nelrak aka Ken Collecting 1909 P and VDB Cents, Type, Early Proofs, Jefferson Nickels, Morgans, Peace, and Older "Close to UNC" Non-USA coinage "How much you want for them old coins?"
I agree Nelrak. If anybody else (read - average collector) had owned that coin and submitted it, do you really think PCGS would assign it that grade? If your name isn't Eliasburg, Lee, Norweb, and a few others, you can just about forget about getting those grades... let alone getting it graded at all (alot come back in body bags due to some "problem".
I would like to start a running guess on the person who can guess the closest to the final winning bid for this coin.I cant believe I am actually seeing this coin in this condition.I would like to know if anyone is interested in a guess, who will start?????
I'll start: Lets see, the 1893 S in MS-65 trends for $400,000 And the MS-68 sold for over $1 million. The 1889 CC in MS-65 trends for 350,000. So, all logic is going to be thrown out the window, and I will guesstimate:
$1,275,000 (with buyer's premium.)
What do I win? Huh? Huh? (okay, nothing, still fun.)
PCGS price lists this at $650,000.00 and with the Eliasburg/Jack Lee pedigree attached to the coin you can throw all price lists out the window on this one also so it will definitely be one to watch but I will say atleast $900,000.00 on this one
I thought this would be very interesting and also FUN.I would say that according to BRYAN'S, PCGS'S FIGURE and the hype included, this will be an all time record(i think), that said 1,225,000.00. Give or take( of coarse) a hundred thousand or so! PS: thanks TreasHunt for starting the guesstimate's...
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Posted 11/17/2008 09:45 am
The Amazing Eliasberg 1889-CC Dollar, MS68
