1859-O $10.00 PCGS AU53 CAC

Old Green Holder. By today's standards I think this coin is closer to grading AU55 and it is clearly among the finest known of this rare date. The 1859-O is the second rarest eagle from this mint, trailing the low mintage 1883-O. Only 2,300 were struck and it is estimated that four to five dozen are known today with most in the VF35 to EF45 range. In AU, the 1859-O eagle is very rare, especially with natural color and surfaces. This piece may possibly trace its origin to a European source as it has the sort of dirty two-tone appearance that is seen on some American gold coins of this era that were sent overseas. The obverse and reverse show deep greenish and orange-gold color with a good deal of luster below; the high spots are a bit lighter in hue. The strike is about average for the date with some weakness at the radial lines in the stars but the centers are nicely detailed. No serious marks can be seen with the naked eye and the eye appeal is really exceptional for an issue that is seldom seen with a decent appearance; let alone a good one. The last APR for an 1859-O eagle in AU53 is Goldberg 9/10: 2977 at $21,850 but this coin was bright and low end in my opinion. Since 2000. there have been just two other AU53's sold with the best of these being Heritage 6/05: 7908 (an NGC AU53) which brought $28,750. For many years, the 1859-O was the highest priced New Orleans eagle but it has been overtaken by the 1883-O. An 1883-O in AU53 to AU55 with great eye appeal could bring $75,000-85,000 in today's market which sort of leads me to think that choice examples of the 1859-O are currently undervalued. This statement makes even more sense considering how popular Liberty Head eagles have become in the last two or three years. An important coin!

1859-O $20.00 NGC AU50

Only 9,100 were struck and the 1859-O is the fourth rarest double eagle from this mint trailing the 1854-O, 1856-O and 1855-O. There are less than 100 examples known in all grades with around twenty or so in the various AU grades and another three in Uncirculated. For most collectors, the 1859-O (along with the 1860-O) represents one of the biggest expenditures in their Type One double eagle set. But this is a frustrating issue as it is rarely seen with good eye appeal as a result of poor strike and heavy abrasions. And that's why I think that this is a special example. It is better struck than usual for the date with good overall detail at the centers and borders. The surfaces show a few minor, scattered marks but are free of the deep abrasions that are so often seen. The color is a pleasing light, even green gold hue and this rests atop some prooflike flash. Since March 2007, there have been five seperate APR's at Heritage for AU50 examples of this date: three in PCGS holders and two graded by NGC. Prices have ranged from a low of $34,500 to a high of $37,375. An important coin for the advanced New Orleans gold collector.