The 1845-O is, by a vast margin, the rarest New Orleans quarter eagle. Only 4,000 were made and well under 100 are known today with most in the VF-EF range. In AU, the 1845-O is extremely scarce and there are almost none available above AU53 to AU55. I know of three in Uncirculated, all of which I have sold and placed in tightly-held private collections.

This frosty, well-made example shows some reddish-gold color which is deeper in hue on the reverse than on the obverse. The surfaces are typically abraded and there is a small obverse dig near the coronet tip. The eye appeal is considerably better than average for the date and grade.

With the exception of this coin, no PCGS AU50′s have been auctioned since two in 2003 brought $4,255 and $4,600. An NGC AU50 sold for $6,325 as Heritage 1/11: 6317.

This is a coin with multiple levels of demand. It appeals to quarter eagle collectors, New Orleans specialists and those individuals who like cool, low mintage issues which just seem like good values.

Ex Heritage 1/14: 6434, where it brought $5,875.