Douglas Winter Numismatics recently sold one of the few known Uncirulated 1850-O double eagles. The coin was graded MS60 by PCGS, and it is one of just three examples of this date which have achieved an Uncirculated grade at PCGS. The three coins are two in MS60 and a single coin in MS61. The coin was sold for a high five-figure price to a specialized collector who is located in Florida.

The 1850-O is a numismatically significant issue as it represents the very first double eagle struck at the New Orleans mint, as well as the first branch mint double eagle. It is not a scarce issue based on is comparatively generous mintage of 141,000. Hundreds of examples have been introduced into the coin market in the last few years as US gold coins are repatriated, and at one time in 2018 I purchased a group of over a dozen 1850-Os ranging from EF40 to AU53.

What the relative availability of this issue fails to convey, however, is its rarity in higher grades. Properly graded AU55 and AU58 are scarce and nearly every one with CAC approval has a crusty Euro appearance. Let me quickly add that there are plenty of crusty 1850-O $20s which aren’t totally appreciated by CAC as there have been just five stickered at AU55 and two in AU58. I regard this issue as one of the premier appearance rarities in the entire Liberty head double eagle series, and it’s probably the number one appearance rarity relative to its overall availability in the Type One series.

The only auction record for a PCGS MS60 1850-O $20 was all the way back in late 2009 when a coin sold for $63,250. In mid-2014, the all-time auction price record for the date occurred when a PCGS/CAC MS61 brought $111,625. I was the underbidder on that coin and while it was nice, I’m not sure that it would grade higher than AU58+ if it were cracked-out and sent to PCGS as a raw coin. The Dallas Bank Collection example, which was graded MS62 by NGC, is the only other 1850-O I am aware of which qualifies as Uncirculated. The Hansen/Crawford coin, graded AU58+ by PCGS is another top-notch example.

The 1850-O $20 sold by DWN is notable for the overall cleanliness of its fields on both the obverse and on the reverse. As you can see from the accompanying images, this piece has a near-total absence of detracting abrasions Its overall “look,” in fact, is totally different from the typical example of this date. In addition to being very mark-free, this coin had totally natural rich yellow-gold color which is absolutely the proper hue for the issue and which is seldom seen. Coupled with the above-average strike, this gives the coin premium overall eye appeal for the date and grade.

Douglas Winter Numismatics (DWN) is a Portland, OR-based rare coin firm which specializes in choice and rare United States gold coinage. Doug Winter is especially knowledgeable when it comes to Liberty Head double eagles and New Orleans gold. He has written the standard reference on these coins and he is planning to print a limited number of copies of a 2023 revision of the third edition of “Gold Coins of the New Orleans Mint, 1839-1909.”

For more information on this coin, Liberty head double eagles or New Orleans mint gold coinage, please contact DWN via phone at (214)675-9897 or by email at dwn@ont.com.

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