The 1856-O is tied with the 1855-O for fifth rarest half eagle from this mint. Only 10,000 were struck and fewer than 100 are known; mostly in the EF40 to AU50 range. This date is extremely scarce in properly graded AU55 to AU58 and very rare in Uncirculated with exactly six known.

This lustrous example shows a typical strike with some weakness on the three stars and on the curl below the ear of Liberty. The color is a light yellowish-gold and there is a considerable amount of luster seen on both sides. A few scuffs are seen on both sides and there is a shallow scrape on the reverse below TES in STATES.

The last PCGS AU55 1856-O half eagle to sell at auction was this coin which brought $5,463 as Heritage 11/11: 4308. In 2007-2008, a pair of NGC 55′s sold for $5,750 and $5,635. There are ten auction records for AU55′s since 2000 but this includes a number of pieces that have been sold multiple times.

As with the 1855-O and 1857-O, this is a rare, low mintage date which is almost impossible to find in grades above AU55.