The E-Sylum:  Volume 6, Number 24, June 15, 2003, Article 6

1873-CC NO ARROWS DIME DISCOVERY

  Rusty Goe writes: "For the information of E-Sylum subscribers,
  I want to share this bit of news from PCGS (Professional
  Coin Grading Service)..

  Michael Sherman has confirmed by phone that PCGS graded
  a discovery specimen of an 1873-CC "NO" Arrows Seated
  Liberty dime.

  We noticed in the Population Report that a specimen of this
  rare suddenly appeared, but we were skeptical.  That's when
  we called PCGS to confirm if it was true.  Their representative
  Michael Sherman checked on it and affirmed that an 1873-CC
  No Arrows dime had been graded in December 2002.  It is in
  the VG-VF range.

  (This is not to be confused with the fact that both PCGS and
  NGC (Numismatic Guaranty Corporation) list an Uncirculated
  specimen of this date - this is the Eliasberg coin.)

  For 130 years (or at least since there was interest) it has been
  believed that only one specimen of the 1873-CC N/A dime
  existed.  This is an Assay Commission coin, saved from melting,
  eventually passing through the hands of John Haseltine, Stephen
  Nagy, William Woodin, Rudolph Kohler, Charles M. Williams,
  and finally in 1950, Louis E. Eliasberg, Jr.  It remained in
  Elaisberg's collection until 1996, when Waldo Bolen purchased
  it at the Bowers & Merena sale for $550,000. The coin was
  subsequently sold in a Heritage auction in 1999 for $632,500.

  After speaking to Michael Sherman at PCGS, my wife was
  surprised that there had been no press release issued regarding
  the coin.  With the media frenzy surrounding the 1913 Liberty
  nickel, and the disposition to report any and every discovery
  in the coin hobby, it seems like the discovery of a second
  1873-CC N/A dime would at least be the story of the year.

  We contacted Coin World and Numismatic News and were
  told that they had not heard of this new discovery. William
  Gibbs at Coin World was very interested and agreed that it
  would be a sensational story.  He began researching it.
  Numismatic News was apathetic.

  When Michael Sherman was asked why PCGS had not issued
  a press release, his response was that since the coin has been
  graded since December, and everyone has had an opportunity
  to hear about it, the story is old news..  Well, no one I have
  contacted, from dealers, collectors to the media, knew anything
  about the coin.

  We explained to PCGS that we are putting the finishing touch
  on our book about the coins from the Carson City Mint, and
  since the acknowledgment of a second specimen of this
  classic rarity is of paramount importance, we want to be able
  to revise our text, if necessary.

  ust as Bowers and Merena has done regarding their offer of $1
  million for a 1913 Liberty nickel, we are on the verge of posting
  an offer of approximately $200 K for the second 1873-CC N/A
  dime.

  Any information can be forwarded to: Rusty Goe / Marie Goe
  Southgate Coins / 5032 S. Virginia St. / Reno, NV 89502 /
  mariesgate at sbcglobal.net /  775 -322-4455"

  Wayne Homren, Editor

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