Along with the 1852-O, this is the only reasonably affordable and obtainable Type One double eagle from the New Orleans mint. This makes it very popular with collectors. The 1851-O is only marginally scarce in the lower AU grades but it is hard to find with original color and nice surfaces.
This medium orange-gold example has a nice “crusty” appearance with no major detracting abrasions and a bit of luster peeking through. The strike is sharp with most details up and bold while the fields show a few fine old lines which are hard to see with the naked eye.
In March 2014, Stack’s Bowers sold two PCGS AU50 examples for $7,250 each. Heritage 2/14: 4248, graded AU50 by PCGS and approved by CAC, realized a strong $9,988.
This is just about the best available quality for a New Orleans type one double eagle in the four-figure price range.