The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
The mintage of this issue was 40,000 coins, making it the second largest production of any eagle from the Carson City Mint. Like many issues from Carson City and other mints, the survival rate is ultimately more important than the initial mintage. Nearly all surviving examples of this issue are circulated, indicating that these pieces must have been released into commerce at the time they were produced, although Rusty Goe reported that perhaps 95% of the mintage was exported. This seems unlikely, as many such coins would have been returned to American collectors in recent years. According to Jeff Garrett and Ron Guth, the average certified grade of this issue is just AU50, with just 7% of the population achieving Mint State grades. For comparison purposes, they note that more than half of all certified 1891-CC eagles grade MS60 or finer.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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