SOLD - $20.00 – 1856-O PCGS AU55

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sold out

SOLD - $20.00 – 1856-O PCGS AU55

400,000.00

Date    1856-O
Grade    PCGS AU55
PCGS Price Guide    425000
Population (PCGS)    5/2
Population (NGC)    1/3
Serial Number    8918.55/82247235
PCGS Lookup Number    8918

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A LOVELY PCGS AU55 EXAMPLE OF THE EXTREMELY RARE 1856-O DOUBLE EAGLE

The 1856-O is, along with the 1854-O, one of the two rarest gold coins ever produced at the New Orleans mint. It has long been recognized as one of the key issues in the entire Liberty Head double eagle series and there are fewer than three dozen known from an original mintage of just 2,250 coins. In the higher AU grades, this date is a major rarity with likely no more than four to six known which qualify as such plus one in MS63 which has been called a “specimen” by NGC.

The first thing that this is notable about this coin is that it hasn’t been scrubbed like most of the 1856-O double eagles in AU holders have. It is very lustrous with excellent mint bloom seen below natural medium straw-gold color. The surfaces show just a few light abrasions with none remotely detracting while the strike is sharp. I grade this coin AU58 and have sent it to PCGS a number of times in an attempt to have it recognized as such. If this were a $10,000 coin, I wouldn’t give up on it but a piece of this magnitude can impact the old cash flow so….

There are three auction records for PCGS AU55 1856-O double eagles over the course of the last decade. This example sold in June 2016 (see below for full pedigree) for $364,250 while another example realized $387,750 as Heritage 4/15: 5428. All the way back in July 2005, Heritage sold another PCGS AU55 at a then-record price of $431,250. I paid over $500,000 via private treaty sale for an AU55 1856-O double eagle a few years ago when the Type One double eagle market was more robust.

The PCGS population report lists five AU55 1856-O double eagles but I believe the correct number is four. There is just one finer at this service; an AU58+ in the Hansen-Crawford collection. The finest known is, of course, the NGC SP63 mentioned above.

All great collections of Liberty Head double eagles are measured by the quality of the classic New Orleans rarities, the 1854-O and the 1856-O. A great collection has a great example of both of these and in my opinion, the coin I am offering here represents “great” quality for the issue and outstanding value.

*Please note that I have not sent this coin to CAC due to shipping and insurance logistics. I would be happy to arrange this for the buyer of this coin if he so desires.

Ex: Stack's 8/1971:2424, $5,250 - Duquesne Collection - Heritage 8/2015:4453, $340,750 - Heritage 6/2016:4843, $364,250.