Lot 2977
1859-O $10 Liberty. PCGS graded AU-53. Nice light yellow gold. Somewhat prooflike around the letters. Some light surface marks. A very pleasing specimen of one of the notable rarities of the New Orleans Mint, one of just 2,300 struck. Apparently no more than a few dozen survive, and the number may even be below a dozen (see following commentary). Douglas Winter estimates the total population as only 30 to 35 coins, noting that the finest known to him is AU-50.
David Akers checks in with this comment: "The 1859-O is the rarest O-Mint eagle, and is actually one of the rarest dates in this entire 224-coin series (of coins of $10 denomination) … The best I have ever personally examined was a single AU specimen, and the relatively few others I have seen are only VF or EF."
Walter Breen, whose comments on American gold coins must always be considered, in his Encyclopedia, states this: "Fewer than 12 survive. Usually in low grades; prohibitively rare EF." (PCGS # 8629) .
Diagnostic features of the 1859-O: Although three pairs of dies were on hand, apparently only one die pair was employed for the 1859-O coinage -- a logical situation considering the tiny mintage. Date logotype deeply impressed into the die, and about twice as close to the dentils as to the neck truncation above. On the reverse the O mintmark is positioned so that the tip of the arrow feather points to the upper right outside curve, and is separated from it.
Estimated Value $16,000 - 17,000.
Ex: HW Bass Jr. Collection, Purchased from Stack's, November 5, 1970.
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| Realized $21,850 |
