POPULAR 1858-O DOUBLE EAGLE WITH CAC APPROVAL

The 1858-O is only the eighth scarcest of 13 New Orleans double eagles but it is still a difficult coin to find, especially in collector grades and with any semblance of originality. Most of the VF and EF examples I have seen are very “baggy” and are seldom found with natural color.

This example has been off the market for many years and it has natural green-gold color with underlying bursts of orange-gold. It is evenly worn with fewer detracting marks than normal and it appears unadulterated, happily lacking the bright, soulless appearance so typical for this issue. Both sides have some remaining luster and the detail is excellent.

Three PCGS EF45 1858-O double eagles have sold at auction since 2010 although none were approved by CAC. They realized $9,694, $10,658 and $9,775, respectively.

This date has risen appreciably in price but most of the $15,000-25,000 examples I see for sale are really ugly and seem like bad value. To me, this piece is more attractive and it is clearly more affordable.

CAC has approved three in this grade with six finer.