Variety 1-A.

The 1870-CC is the key issue in the Carson City half eagle set. It is prized on account of its overall and high-grade rarity, and it has multiple levels of demand due to its status as the first half eagle produced at the newly-opened CC mint. Of the 7,675 struck, it is estimated that around 75 to 85 exist today, with this EF45+ ranking in the top third of the known coins.

This is among the most original 1870-CC half eagles that I have seen and the russet-toned surfaces have deep, even color. There is enough luster present to strongly consider assigning this coin a AU50 grade and the detail on the wings is clearly finer than what is commonly seen on examples of this date in EF45. As with virtually every known example, the surfaces show dense marks although on this example they are well-concealed by the depth of the natural color.

This is the sole 1870-CC half eagle graded EF45+ by either service. In their 2022 ANA auction, Heritage sold a PCGS/CAC EF45 example of this date for $96,000, while a bright, obviously dipped PCGS AU53 realized $99,000 as Heritage 2022 FUN: 3697.

The current population for this date in PCGS EF45 is 15 coins (which include the sole 45+) with 19 finer. These figures are greatly inflated by resubmissions. CAC has approved 29 in all grades with three in EF45 (which includes this EF45+) and four finer. The PCGS Price Guide for this date in EF45 is $120,000, while the CAC Price Guide is $95,000 in EF45 and $122,500 in AU50.

If I were assembling a set of CC $5s, this is the exact coin that I would want to represent the 1870-CC, given its PQ appearance, amazing originality, and outstanding pedigree.

Ex Stack's Bowers 4/2022: 5123, where I purchased it for $108,000.

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