The 1879-CC Morgan Dollar is a highly sought-after coin, known for its historical significance and rarity. This particular coin was minted at the Carson City Mint, a branch of the U.S. Mint located in Nevada. The year 1879 saw some challenges for the Carson City Mint, as it faced rising transportation costs and issues with its location. Despite these difficulties, the 1879-CC Morgan Dollar became an important piece of U.S. coinage. This guide will provide you with everything you need to know about the 1879-CC Morgan Dollar, including its history, pricing, and notable specimens.
History of the 1879-CC Morgan Dollar
In the late 1800s, silver from the nearby Comstock Lode in Nevada was being used to create silver coins at the Carson City Mint. However, the mint faced challenges due to high transportation costs and issues with the delivery of silver. The Carson City Mint was forced to reduce its operations, leading to a decrease in the number of coins minted.
In 1879, the Carson City Mint produced a total of 756,000 1879-CC Morgan Dollars. Despite being struck during a period of reduced minting, this coin quickly became a collectible due to its rarity. Collectors today seek out the 1879-CC Morgan Dollar for its historical value and its limited mintage.
Pricing History and Market Data
The 1879-CC Morgan Dollar has seen significant changes in its pricing over the years. In the 1950s, the coin was relatively affordable, with prices for uncirculated examples around $7.50. By the 1970s, prices had risen sharply, with a Morgan Dollar in MS65 condition (a higher quality) selling for around $500 in 1974. Prices continued to rise through the 1980s and 1990s, and by the 2000s, coins in mint condition were regularly selling for tens of thousands of dollars.
Today, the 1879-CC Morgan Dollar is valued highly by collectors, particularly those in excellent condition. Some of the top specimens have sold for prices ranging from $20,000 to over $190,000. The coin’s value is influenced by factors such as its grade, rarity, and historical importance. Coins in higher grades, such as MS65 or MS66, command higher prices.
Notable Specimens and Rarity
The 1879-CC Morgan Dollar is considered one of the rarer coins in the Morgan Dollar series, especially in high-quality grades. The coin’s rarity is highlighted by the fact that only 4,123 pieces were included in the GSA Hoard, which was a collection of coins distributed by the U.S. government in the 1970s. As a result, collectors highly prize these coins, especially those with excellent toning or unique characteristics.
The coin is available in different varieties, with two notable types: the Clear Mintmark and the Clogged Mintmark. The Clogged Mintmark variety is particularly valuable and sought after, as it is scarcer than the Clear Mintmark variety. Collectors often look for coins with these varieties, as they add to the coin’s uniqueness and value.
Popular Auction Prices
Many 1879-CC Morgan Dollars have been sold at major coin auctions, with some reaching record prices. For example, a coin graded MS66 by PCGS was sold for $192,000 in January 2023. Other notable auction prices include an MS65 example sold for $64,625 and another MS65+ example that went for $45,600.
In addition to high-quality coins, certain varieties like the 1879-CC with a Clogged Mintmark also fetch high prices. One such coin in MS65 condition sold for $52,800 at an auction in 2019. These auction prices reflect the strong demand for high-quality, rare examples of the 1879-CC Morgan Dollar.
The Significance of the 1879-CC Morgan Dollar
The 1879-CC Morgan Dollar holds a special place in American numismatics due to its historical context and rarity. The Carson City Mint was closed just a few years after the 1879-CC was struck, making this coin a symbol of a brief but important chapter in U.S. coinage history. Collectors appreciate the coin not only for its silver content but also for its role in the legacy of the U.S. Mint.
Additionally, the 1879-CC Morgan Dollar is part of the larger Morgan Dollar series, which is one of the most popular and widely collected sets of coins in the world. The 1879-CC is considered one of the key dates in the series, making it a must-have for serious collectors.
Conclusion
The 1879-CC Morgan Dollar is a rare and highly collectible coin with significant historical value. Its limited mintage, the challenges faced by the Carson City Mint, and its popularity among collectors all contribute to its appeal. Whether you’re a seasoned numismatist or a beginner, owning an 1879-CC Morgan Dollar can be a valuable addition to your collection. The coin’s rich history, coupled with its rarity, ensures that it will remain a sought-after piece for years to come.
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