IMPORTANT NO MOTTO EAGLE

Likely in the Condition Census, and very rare this choice.

In terms of its overall rarity, the 1851-O is among the most available of the various No Motto eagles produced at the New Orleans mint.  This date’s rarity pivots mightily when you go up to Uncirculated as there are but a dozen or so extant. This includes two or possibly three in MS64 (DWN has sold two), and none in MS63. I am aware of just two in MS62: this coin which is a 62+, and a PCGS/CAC MS62 that I sold to the 400 Esplanade Collection around six or so years ago.

I spent the better part of a year trying to get this coin into a 63 holder and, although I’m biased, I still honestly believe that the coin is very choice (and worth double my current asking price if it were to upgrade). It has that rich, velvety luster seen on just a handful of No Motto eagles from any mint. Most eagles from this era show heavy marks from having been well-used in commerce or from lying loose in bags in European banks where many were shipped.

The luster is bold and unbroken with complimentary deep yellow and green-gold colors. There are a few very minor ticks on the lower left obverse as well as some wispy lines; the reverse on its own is of virtual Gem quality.

NGC has graded one in both MS62 and MS62+ with one finer (MS64). PCGS shows a population of two in MS62 with none in MS62+ or MS63. CAC has approved three in MS62; this includes this single coin in 62+ with one finer (MS64).

A pair of MS64 1851-O eagles are known with Heritage 2/2020: 3223 at $84,000, setting a price record for this date. Back in October 2016, a PCGS/CAC MS62 brought $29,375. The same coin had sold for $31,725 as Legend 9/2015: 240.

The PCGS Price Guide suggests a value of $62,500 for this issue in MS62+. In MS63, this figure jumps to $80,000.

I have handled nearly every 1851-O eagle in the Condition Census and in all honesty, I think this coin is the third best.

Ex New England Collection, via Douglas Winter Numismatics in 2014. This coin became a duplicate after the collector replaced it with finest known; the PCGS/CAC MS64 described above.

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