US Coins

1879-CC/CC $1, aka ‘Capped Die’

The 1879-CC Morgan dollar is a semi-key date in the series and the “Red Book” lists two distinct varieties — the Clear CC and the CC/CC (repunched Mint mark).

The latter is well-known by the (rather misleading) nickname “Capped Die” and Legend Rare Coin Auctions offered one of these, graded Professional Coin Grading Service Mint State 65+ with a green Certified Acceptance Corp. sticker, on May 15 in Regency Auction 32 in New Orleans.

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It was one of five that are tied as the finest certified of the CC/CC variant at PCGS with none identified as finer. Legend wrote, “In the past, the Capped Die was thought of as ‘a poor man’s 1879-CC,’ but modern research has proven how rare this issue is!” 

The 1879-CC/CC Morgan dollar is often weakly struck, and the offered dollar is more strongly struck than often seen, but still has the typical weakness in the hair above Liberty’s ear. Legend and Sotheby’s both sold examples graded PCGS MS-65 in May 2018 for $45,825 and $50,000 respectively. Legend wrote, “Collector’s Universe lists a value of $62,500 and it would not be a shock if this GEM realized well in excess of that amount!” 

It did not. The offered coin realized $49,937.50, falling just below the $50,000 to $60,000 estimate.  

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