1881-CC Coronet $5 Half Eagle

“Another Black Eye.”

That was the screaming headline in the March 29, 1881 edition of the Daily Nevada Tribune, announcing the federal government's decision to close the Carson City Mint on April 1.⁽¹⁾

The lack of precious metal bullion was a driving factor in the cessation of minting operations, but the discovery of at least 96,000 silver dollars struck during the summer of 1880 were of substandard fineness didn’t help the Carson City cause either.⁽²⁾

Chief Assayer William P. Prescott died suddenly on December 5, 1880. Had he lived, he would have been compelled to explain to the Annual Assay Commission in Philadelphia in February 1881 how the purity error had occurred.  This likely led to doubts about the mint’s management and may have influenced its closure.

Prior to the branch mint’s shutdown on April 1, a total of just 5,640 gold half eagles dated 1881 were issued by the “CC” branch mint. When coining operations resumed in November, another 8,246 half eagles were struck.⁽³⁾

Thus, a sum of only 13,886 half eagles was minted in Carson City in 1881, far fewer than Philadelphia's 5.7 million and San Francisco's 969,000 that same year.⁽⁴⁾

PCGS estimates there are only 115 survivors of the 1881-CC half eagle.⁽⁵⁾

Gold coin guru Doug Winter had this to say about the 1881-CC:⁽⁶⁾

The long term value trend charts (see below) for the 1881-CC place it far above most collectible coins, in terms of percentage gains.

Had it not been for “Another Black Eye,” we collectors probably would not be talking about the 1881-CC half eagle today in such glowing terms.

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Trendline Avg = 13.97	GOOD

Trendline Avg = 13.97	GOOD

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