Eliasberg Collection pedigree. Housed in an Old Green Label holder.

As with many of the New Orleans half dollars from the 1840′s, the 1849-O was a workhorse in commerce and most of the survivors are in circulated grades. There are likely two dozen or so known in Uncirculated with most in the MS60 to MS62 range. Properly graded MS64′s are quite rare and I know of just one or two Gems. The finest known, graded MS65 by PCGS and approved by CAC, sold for $28,200 as 2013 ANA: 4138.

This example is, as is typical for the issue, struck from rusted dies with some raised bumps along the left side of Liberty. It is totally original and toned in golden pastels with the deepest hues seen at the lower obverse and at the right reverse. There are just a few tiny nicks seen below magnification and this piece has ample eye appeal for the grade.

A PCGS MS64 with CAC approval recently sold for $6,463 as Heritage 6/13: 4511.

This coin has all the “bells and whistles” a collector could want: old holder, CAC bean and a pedigree which dates back to the 19th century!

CAC has approved three in this grade with three finer.

Ex Chapman Brothers, 2/1893 (CT Whitman collection), John Clapp Sr., John Clapp Jr., Louis Eliasberg, Bowers and Merena 4/97: 1948 (where it sold raw for $3,300).