PCGS GRADED AU53 1847-O HALF EAGLE, THE RAREST NEW ORLEANS ISSUE OF THIS DENOMINATION

The 1847-O is far and away the rarest New Orleans half eagle. Only 12,000 were minted and today there are likely not more than 50-60 known including many in the VF-EF range. Properly graded About Uncirculated pieces are very rare and I know of lust two 1847-O half eagles which are indisputably Uncirculated.

This fresh to the market example is really an AU55 to AU58 which has been net graded on account of two noticeable contact marks in the left obverse field. These must have occurred many years ago as the area surrounding these abrasions is exactly the same as the rest of the coin: a pleasing, natural green-gold and russet hue. There is a mint-made area of roughness on the lower left obverse which is seen on many 1847-O half eagles; the reverse is clean and choice. Without the aforementioned marks, this piece would rate as one of the very finest known for the date and would be priced in excess of $20,000.

A PCGS AU53 with questionable color sold for $11,163 as Heritage 1/15: 7072 and I paid $14,100 for a nice NGC AU53 which was offered as Heritage 1/14: 6658.

This date is on nearly every New Orleans gold collector’s want list and very few visually acceptable pieces exist,