SCARCE PCGS AU50 1859-O $20.00

I rank the1859-O as the fourth rarest double eagle made at New Orleans. It trails only the very rare 1854-O and 1856-O issues as well as the very underrated 1855-O. Its closest competitor in the rarity race is the 1860-O, but I feel it is a touch more available than the 1859-O. There are fewer than 100 known of the 1859-O with around thirty or so in AU50 to AU55.

This coin is a real AU50. Unlike so many of its counterparts, it has not been repeatedly scrubbed and around 50% of the original luster remains below typically abraded surfaces. Some russet color can be seen on both sides with the color a bit deeper on the high spots than in the fields.

Since the middle of 2021, just three PCGS AU50 1859-O double eagles have sold via auction. The most recent sale was for a very low $33,750 (9/2023), and this coin was simply awful. In 5/2023, another low-end coin sold; this time for $40,800. The third sale was for $42,000 in 5/2022; ex Bass and covered with PVC.

At under $40k, this coin represents the best value grade for a very scarce Type One issue.

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