Lot 1729
Lovely 1859-O $20 Gold PCGS Graded AU 53. PCGS graded AU-53. Another rare date in splendid condition. The surfaces show moderate handling marks, as do virtually all coins from this Mint, as we know, the New Orleans double eagles circulated especially hard, just like the Ccs that commenced coinage in 1870. Circulation marks are the rule on coins from these two mints. Once struck, these heavy gold coins promptly entered circulation where $20 represented more than a weeks labor, for many people an entire month of work to earn such a coin. Hence, these were not saved, but spent for needed supplies of life. To preserve such a coin was a matter of chance, that's why Breen estimated that 99 percent of these were melted, lost or simply disappeared.
This appears to the be "thin numerals" referred to in Breen's Encyclopedia. Identifiable by a tiny planchet void just over the right side of the 8 in the date. In the staggering Bass Sale from October 1999, there were 3 of this date offered, one better, one in this grade, and another in AU 50. The cataloger in that sale (there were several) noted that the first 1859-O had curious clash marks, similar to those seen on this coin. The obverse has several "glory rays" on Liberty's neck above her lowest curl, and some horizontal shield lines just above her ear. As questioned in the Bass Sale, how did the reverse die clash so high (above the low fields) on Liberty? One would think that clash marks would only appear in the fields of the opposing/clashed die, but somehow these clash marks appear within the devices of this 1859-O! One to study.
PCGS has not yet graded a Mint State coin of this date, in fact, they have only graded 4 coins higher than this, with 8 in this particular grade category. An opportunity not to be repeated soon!
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| Realized $15,525 |
