The 1876-CC 20 Cent coin, one of the rarest coins in American history, just sold for an incredible $870,000 at auction. Heritage Auctions describes this coin, struck at the Carson City Mint, as “a numismatic prize of the first order”.
Collectors value it for its rarity, restricted manufacturing, and historical relevance. The high auction price has reignited interest, prompting many collectors to sift through their collections in quest of this exceptional piece.
The 20-cent piece was only struck for a few years, from 1875 to 1878, and was designed to make transactions easier at a time of coin scarcity. However, its resemblance to the quarter dollar made it unpopular and difficult to use, prompting its rapid demise.
Today, this small production window, combined with the Carson City Mint’s limited output, has made the 1876-CC 20 Cent coin a genuine collector’s dream and an important part of American numismatic history.
Why Was the 20-Cent Coin Created?
The United States Mint now makes coins in the following denominations: the penny (1 cent), nickel (5 cents), dime (10 cents), quarter dollar (25 cents), half dollar (50 cents), and dollar. However, for a brief period in history, a 20-cent piece was introduced in 1875.
The 20-cent coin was distinctive not only in look, but also in function. Despite its brief production run, it remains a unique specimen for collectors.
The 20-cent coin was authorized by the Act of March 3, 1875, spearheaded by U.S. Mint Director Henry Linderman. Its initial goal was practical: the coin was designed to remedy a shortage of five-cent pieces, which caused overcharging and inconvenience for both retailers and customers.
The idea was that a 20-cent coin would bridge the gap and make transactions easier.
Despite its use, the 20-cent coin was not a success. Its fate was primarily sealed by its confusingly identical size and design to the quarter dollar, which made it unpopular with the general public.
What Makes the 1876-CC 20-Cent Coin So Rare?
The Carson City Mint manufactured the 1876-CC 20 Cent coin, which is regarded one of the rarest American coins. Coins struck in Carson City were considered rare in the late 1800s due to the mint’s low manufacturing capacity and shorter operating periods as compared to the Philadelphia and San Francisco Mints.
The 1876-CC issue had a particularly tiny production run before being withdrawn, which contributes to its scarcity and desirability today.
| Feature | Description |
|---|---|
| Obverse | Lady Liberty sitting on a rock, holding a liberty cap on a pole in her right hand and a shield inscribed with “Liberty” in her left hand. Thirteen stars surround Lady Liberty, representing the original colonies. The year “1876” is inscribed at the bottom. |
| Reverse | An eagle clutching arrows and an olive branch, symbolize strength and peace. |
| Mint Mark | The “CC” mint mark, indicates it was minted in Carson City. |
| Diameter | 22 millimetres, making it almost identical to the quarter, which added to public confusion. |
Why Was the 20-Cent Coin Unpopular?
The 20-cent coin had several challenges from the moment it was issued:
- Confusing Denomination: The coin was easily confused for a quarter dollar. They were roughly the same size and had similar designs, resulting in several cases of erroneous transactions.
- Short-Lived Production: The coin was only made for three years (1875-1878), with the 1876-CC being particularly scarce. By 1878, the coin had nearly disappeared from circulation.
- Regional Issues: The Carson City Mint largely served Western territories, which had little need for a new coin, thus limiting its practical application.
These concerns led to the coin’s discontinuation soon after its introduction, but they also contributed to its current high value among collectors.
A Collector’s Dream: The Auction
On a recent occasion, the 1876-CC 20 Cent coin fetched $870,000 at an auction held by Heritage Auctions. This price highlights the immense interest and value attached to this particular specimen. Collectors view the 1876-CC as on par with other legendary American coins, such as the 1804 Silver Dollar, the 1894-S Barber Dime, and the 1838-O Half Dollar.
How to Identify If You Have One
If you are wondering if you have this rare coin in your collection, here are some steps to check:
- Look for the Mint Mark: The most essential detail is the “CC” mint mark, which is found on the reverse side of the coin beneath the eagle. The unique 1876-CC variant was manufactured only by the Carson City Mint.
- Inspect the Year: Make sure the coin bears the year “1876” engraved on it. Coins without the “CC” mark, struck in 1875 or after, are less rare.
- Check the Design Details: Compare the design to official photographs obtained from trustworthy numismatic sources. Authentic 1876-CC coins will have exact engraving details and show indications of ageing.
Coin Authentication Services
If you believe you own an original 20-cent coin, consider having it validated by an expert. Here are several reputable coin authentication and grading firms that can assist:
- Professional Coin Grading Service (PCGS)
- Numismatic Guaranty Corporation (NGC)
- American Numismatic Association Certification Service (ANACS)
Having a rare coin professionally graded not only verifies its authenticity but also helps establish its market value, should you decide to sell it.
Should You Consider Collecting Rare Coins?
Rare coin collecting is more than a hobby; it can be a profitable investment. Coins such as the 1876-CC 20 Cent have shown the potential to grow significantly in value. However, before you start collecting coins, consider:
Rarity: How many specimens of a particular coin are known to exist?
Condition: The state of preservation (grade) directly affects the coin’s value.
Historical Significance: Coins linked to interesting or important historical events tend to be more valuable.
The 20-cent coin’s lack of popularity at the time of minting makes it an appealing item today—a true collector’s prize, filled with historical significance and numismatic beauty.
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