The E-Sylum:  Volume 6, Number 25, June 20, 2003, Article 4

ABOUT THAT 1873-CC NO ARROWS DIME

  Scott Rubin writes: "About the 1873-CC No Arrows Dime -
  I wrote an article which appeared in Bowers and Merena's
  Rare Coin Review and I think reprinted in the Eliasberg
  Catalogue along with the Quarter.  In the article I mention that
  the 19th century Randall Sale contained such a dime.  At the
  time of Heaton's book on mint marked coinage he did not
  consider this coin to be unique which at the time lead me to
  believe there was more then one of them."

  Rusty Goe writes: "Well, it was fun while it lasted, but PCGS
  has acknowledged that there has NOT been a new 1873-CC
  No Arrows dime certified.  Apparently, the listing in the Pop
  report was due to a "mechanical error" (typo).

  This is what we suspected all along, and that is why we
  asked to speak to one of PCGS's key personnel, who
  undeniably confirmed that there was in fact a second specimen
  graded.  We had no reason to doubt the veracity of their
  spokesman, who was unwavering even after being informed
  of what a significant event it would be.

  Several years ago a similar incident occurred. A second
  1873-CC No Arrows dime appeared on the PCGS pop
  report, but it was almost immediately discovered to be a typo.
  The owner of the coin actually had some fun with it at coin
  shows, showing his beat up circulated 1873-CC No Arrows
  dime in a PCGS holder, and offering it for sale at approximately
  $5500.  The certificate on the holder said No Arrows, but the
  coin itself, of course, had the arrows.  If you have a 1999 pop
  report, you can look it up.  But it was soon corrected, and it
  wasn't until 2003 that this latest one appeared.

  Coin World's Bill Gibbs pursued this current story after we
  reported it to him.  Upon further examination of their data,
  PCGS's rep. told Gibbs that his initial response had been
  pre-mature, and the population figure was for an 1873-CC
  WITH Arrows dime in the VG - VF range. Bill Gibbs and I
  agreed that this would have been a sensational story if it had
  in fact been a NO Arrows dime.

  Incidents such as this illustrate how influential population data
  can be to the coin hobby.  Integrity and accuracy are of
  paramount importance, and can not be taken lightly. There
  have been millions of coins certified since 1986, and it is easy
  for many to get lost in the shuffle.  Most of the coins are
  inconsequential, e.g. - 1881-S dollars in MS-63.  But
  statistics for classic rarities must be held to stricter standards.
  A red light needs to flash when dates with extremely low pop
  figures are added to the reports.  If these additions prove to
  be accurate, press releases need to be issued to share the
  news with the rest of the collector community.

  In some ways its disappointing that a second 1873-CC No
  Arrows dime was not discovered, but in another way, it is
  also satisfying to preserve the revered status afforded to the
  Eliasberg specimen.  Coin collecting can always use celestial
  classics.

  As a sidenote: Special thanks to Len A. who offered us an
  interesting piece of Carson City lore.

  Any comments can be sent to: Rusty Goe,  Southgate Coins
  5032 S. Virginia St., Reno, NV 89502,
  mariesgate at sbcglobal.net

  Wayne Homren, Editor

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