The world of numismatics is filled with tales of rare coins that capture the imagination of collectors and historians alike.
One such coin is the 1873-CC ‘No Arrows’ Seated Liberty Dime, a unique piece that fetched an astounding $3.6 million at auction in January 2023.
Historical Context
In 1873, the United States Mint underwent significant changes due to the Coinage Act of February 12, 1873. This act mandated slight increases in the weight of certain silver coins, including the dime, which saw its weight adjusted from 2.48 grams to 2.5 grams.
To signify this change, the Mint added arrowheads on either side of the date on the dime, creating the ‘With Arrows’ variety.
Prior to this modification, the Carson City Mint produced 12,400 dimes without the arrows, known as the ‘No Arrows’ variety.
However, due to the new regulations, these coins were melted down, making way for the updated design. Remarkably, only one ‘No Arrows’ dime from the Carson City Mint is known to have survived.
The Coin’s Journey Through Time
The sole surviving 1873-CC ‘No Arrows’ Seated Liberty Dime boasts a rich provenance:
| Year | Event |
|---|---|
| 1873 | Minted at the Carson City Mint. |
| 1878 | First appeared in the John Swan Randall Collection, auctioned by Edward Cogan. |
| 1915 | Featured in the “Collection of a Prominent American,” cataloged by Wayte Raymond. |
| 1950 | Acquired by Louis E. Eliasberg, Sr., completing his renowned coin collection. |
| 1996 | Sold in the Eliasberg Collection auction by Bowers and Merena for $550,000. |
| 1999 | Auctioned by Heritage Auctions for $632,500. |
| 2004 | Sold by Bowers and Merena for $891,250. |
| 2012 | Part of the Battle Born Collection, sold by Stack’s Bowers for $1.84 million. |
| 2023 | Achieved a record-breaking $3.6 million at Heritage Auctions. |
Design and Specifications
Designed by Christian Gobrecht, the Seated Liberty Dime features:
- Obverse: Liberty seated on a rock, holding a pole topped with a Liberty cap in her left hand and supporting a Union shield with her right hand. The date is inscribed below.
- Reverse: A wreath composed of corn, wheat, maple, and oak leaves encircling the denomination “ONE DIME.” The “CC” mintmark is positioned below the bow tying the wreath.
- Composition: 90% silver, 10% copper.
- Diameter: 17.9 mm.
- Weight: 2.48 grams.
Significance in Numismatics
The 1873-CC ‘No Arrows’ Seated Liberty Dime holds a special place in numismatic history due to its unique status and the circumstances surrounding its creation.
The Coinage Act of 1873, often referred to as the “Crime of ’73,” led to significant changes in U.S. coinage, including the melting of existing coins that didn’t meet the new standards. The survival of this single dime offers a tangible connection to that transformative period in U.S. monetary policy.
Record-Breaking Auction
In January 2023, during the Florida United Numismatists (FUN) U.S. Coins Signature Auction, the 1873-CC ‘No Arrows’ Seated Liberty Dime was sold for a staggering $3.6 million.
This sale not only set a new record for the most expensive dime ever sold at auction but also underscored the coin’s unparalleled rarity and historical importance.
The 1873-CC ‘No Arrows’ Seated Liberty Dime is more than just a coin; it’s a piece of American history encapsulated in silver. Its journey from the Carson City Mint to breaking auction records over a century later highlights the enduring allure of rare numismatic treasures.
For collectors and historians, this dime serves as a testament to the rich tapestry of U.S. coinage and the stories each piece can tell.
FAQs
Why is the 1873-CC ‘No Arrows’ Seated Liberty Dime so valuable?
Its value stems from its unique status as the only known surviving specimen from a mintage of 12,400 coins, most of which were melted due to the Coinage Act of 1873.
What does ‘No Arrows’ signify on the dime?
‘No Arrows’ indicates that the coin was minted before the 1873 Coinage Act, which introduced arrowheads on either side of the date to denote a slight increase in the coin’s weight.
Who was Louis E. Eliasberg, Sr.?
Louis E. Eliasberg, Sr. was a renowned numismatist known for assembling a complete collection of U.S. coins, including the unique 1873-CC ‘No Arrows’ dime.
