RARE PCGS AU58 1854-O THREE DOLLARS

The 1854-O is a distinct one-year issue with the status of being the only three dollar gold piece issued at the New Orleans mint. It is common in grades up to AU53 but it becomes scarce in the higher AU grades and it is very rare in properly grade Uncirculated with no more than four or five known to me. Population figures for AU58′s are seemingly high but very few examples are accurately graded and it seems that PCGS AU58′s are at least five times less plentiful than their counterparts in NGC holders.

This lovely slider example shows the slightest amount of wear on the high spots. It is, as usual, struck from lapped dies and this has removed some of the fine detail, especially on the reverse. The surfaces are clean with no marks worthy of description and the luster is abundant with a frosty texture not often seen on this issue. Both sides show nice medium green-gold and yellow color and the eye appeal is considerably above average for the grade.

The two most recent sales of PCGS AU58 1854-O Three Dollars saw Legend 12/15: 425 (a CAC approved example) realize $20,563 and Heritage 4/15: 5283, a non-CAC example, command a bid of $16,450. As recently as a few years ago, non-CAC PCGS 58′s were trading in excess of $20,000.

The PCGS population of 24 is almost certainly well inflated by resubmissions and it is likely that as few as a dozen distinct coins exist in this grade.

The price of this coin is very realistic in my opinion and it would be hard to find a significantly finer 1854-O Three.