After a two decade hiatus, production of the eagle denomination resumed at the newly re-opened New Orleans mint. The 1879-O is dually significant as a first-year-of-issue (it is the first With Motto issue from this mint) and a low mintage rarity with an original figure of just 1,500 made for circulation. It is the second rarest With Motto New Orleans eagles after the 1883-O and there are an estimated 70-80 known with most in the EF45 to AU53 range. AU55 to AU58 pieces are very rare, especially with nice color and choice surfaces.

This semi-prooflike example shows very little in the way of actual wear but it has typical surfaces for the issue with scattered marks on the surfaces; the result of being shipped loose in a bag from the mint to a bank. The protected areas show flashes of PL reflectiveness and the color is a nice medium orange and green-gold with rose undertones on the highlights. Unlike many 1879-O eagles in third-party holders, this piece has not been harshly cleaned and totally stripped of its originality.

There have been three comparable specimens sold at auction in the last five years, all graded AU58 by NGC. Heritage 10/12: 6049 realized $24,675, Heritage 1/11: 5207 went cheaply at $18,400 and Heritage 2008 ANA: 2015 realized $20,700. Another coin brought $18,400 all the way back in late 2004.

Given the extreme rarity of this coin in grades higher than AU58 (only two are known in Uncirculated and the best of these, a PCGS MS61, just sold for $88,125 at auction) this example is essentially the finest available.

An important New Orleans eagle for the advanced specialist.