Uncertified 1893-CC Coronet gold double eagle realizes $12,075: Market Analysis

In the latest Coin World Market Analysis, coins from the latest Numismatic Auctions LLC sale are profiled
By , Coin World
Published : 08/04/15
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For every massive coin auction presented by one of the major auction firms, there are many smaller auctioneers around the country that also have strong coin sales.

Steven L. Davis’ Michigan firm Numismatic Auctions LLC typically holds two auctions a year, and its latest summer sale took place June 29 in Okemos, Mich. Unlike many auctioneers, Davis offers the majority of his coins uncertified, letting bidders ultimately decide what a coin is worth. His latest auction offered a huge range of U.S. and world material, and literally had something for everyone and nearly every budget.

Here is one of three coins that we took note of. 

The Coin

1893-CC Coronet gold $20 double eagle, Uncirculated

The Price

$12,075

The Story

Among the top lots at the auction was this 1893-CC Coronet gold $20 double eagle that brought a bid of $10,500 (bringing a total price realized of $12,075 with the 15 percent buyer’s fee). The tougher issue, from the final year of the Carson City Mint, was described as “Lustrous original Unc and nearly Choice save some light scattered contact.”

It takes some guts to pay a five-figure price for an uncertified coin and confidence in one’s grading ability. At the $12,075 level, the double eagle sold for a price consistent with what a top-quality About Uncirculated 58 example or a lower-grade Mint State piece might bring at auction.

For example, at last year’s American Numismatic Association auctions, Heritage sold one graded MS-60 by Numismatic Guaranty Corp. for $12,925, while Stack’s Bowers Galleries sold one Professional Coin Grading Service graded as MS-61 for the same amount. 

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