SOLD – $10.00 – 1883-O NGC AU53

1883O_10_N531.jpg
1883O_10_N531.jpg
sold out

SOLD – $10.00 – 1883-O NGC AU53

72,500.00

Serial Number 454852-003

PCGS Lookup Number 8629

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The 1883-O has the lowest mintage figure of any gold coin produced at the New Orleans mint (800) and it is the third rarest gold coin from this facility, after the very rare–and very expensive–1854-O and 1856-O double eagles. There are likely around 40-50 known 1883-O eagles, mostly in the EF45 to AU53 range. When available, this date tends to be very abraded and not appealing due to scuffy Prooflike surfaces and/or obvious cleaning. Probably less than 10 truly original pieces exist. It is, of course, the rarest New Orleans eagle in all grades.

This piece is totally fresh to the market and it was discovered a few years ago in Europe and then sold by DWN to the owner of the Thicket Walk collection. It has totally natural deep green-gold color with contrasting deeper hues seen on the relief details. The surfaces are mostly clean with just a few scuffs seen below the toning and the strike is better than normal for the issue with many of the stars fully formed at the radial lines. Interestingly, the luster is soft and frosty which is highly unusual for this date; most are semi or fully Prooflike. I like this coin better than other 1883-O eagles which I have seen in 55 or even 58 holders and it is clearly among the most original pieces known.

The only AU53 to ever sell at auction was offered as Stacks Bowers 3/11: 6741 where it realized $67,333. An NGC AU55 brought $70,500 as Heritage 2/14: 4209. Both of those coins were, in my opinion, way overgraded and were not choice or original. In fact, price levels for this rare date have been harmed by auction appearances of coins which were clearly subpar for the grade.

If you have been waiting for the right example of this important issue to come along, I doubt whether you will be able to acquire an 1883-O eagle with this degree of originality and comparative eye appeal.