As with issues such as the 1847-O, 1850 and 1852-O, the 1851-O quarter eagle is common enough in all circulated grades but it is rare in full Mint State. There are probably around 15-20 known in Uncirculated with nearly all graded MS60 to MS61. This is a rare coin in properly graded MS62 and very rare above this. The finest I am aware of is Heritage 5/07: 2230, graded MS62 by PCGS, which brought $20,700.

This vibrant, frosty example is a medium die state of the 1851/51-O variety with signs of the original two digits punched too far to the left. This variety is recognized by NGC but not by PCGS. The coin itself is choice for the date and grade with nice medium yellow-gold and a strike which is better than usually seen. A few small scuffs in the left obverse fields are the only thing that keep this from consideration at a slightly higher level.

The last PCGS MS62 to sell at auction was Heritage 4/11: 6326, which brought $5,454. This coin was not approved by CAC. Only two PCGS MS62;’s have sold at auction since 1999.

I have long believed that New Orleans quarter eagles are very undervalued in MS62 and above, especially when they are as fresh and original as the current example.

This is the only 1851-O quarter eagle graded MS62 which has been approved by CAC; none have been approved in grades above this.

ON HOLD