PCGS AU58 1880-O $10

After a two-decade hiatus, coinage resumed at the New Orleans mint in 1879. The first eagle from this facility was struck in 1879 and it is very rare. The 1880-O eagle is more available, but it is scarce in its own right and is very rare in Uncirculated.

This frosty slider shows light wear which is limited to the high spots on the obverse. There are a few stray marks in the left obverse field while the reverse grades MS61 or finer on its own. The strike is sharp and the color is a pleasing medium yellow-gold.

Since the start of 2011, there have been seven APRs for this date in PCGS AU58 with four of these occurring between August 2017 and March 2018. Three of these four sales were for $8,400 to $9,988, but the most recent APR was very cheap at $5,040 (Heritage 11/2020: 3725). The population for AU58s at PCGS has increased from 10 in late 2015 to 20 as this is being written in June 2021.

This date was overvalued when PCGS AU58s were bringing $9,000+, but at current levels, I believe they represent better value.

From the Novato Collection of New Orleans Eagles

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