The enigmatic 1892-O is actually one of the rarest New Orleans half eagles in terms of total known but unlike the rarer No Motto issues from this mint, it didn’t see extensive circulation and its rarity stems from meltings. When available, the 1892-O tends to come in AU grades and it is sometimes seen in MS60. Properly graded MS62′s are very rare with only five to eight known. The finest is a single PCGS MS64, followed by a sole MS63 from this service.

This piece is very clean for an 1892-O half eagle and this is important as this issue is nearly always peppered with bagmarks. This piece doesn’t seem to have been shipped loose to Europe and it shows rich butter-yellow color with hard, frosty luster. There are a few light ticks which limit the grade but the overall “look” of this coin is decidedly above average for the date.

The last PCGS MS62 example to sell at auction brought $6,325 in Heritage’s 6/04 sale. I paid $8,050 for a PCGS MS62+ in Heritage’s 4/11 sale.

An important coin for the advanced collector of New Orleans gold.