-- Florida rare coin dealer and gold coin specialist Tom Pilitowski
has announced the purchase and sale of the finest known 1859
double eagle minted in New Orleans. Numismatic Guarantee Corp
has assigned the coin a Mint State 61 "Proof like" grade. Pilitowski
said it is just the second known uncirculated specimen and is
the finest certified 59-O by any of the third party grading
Given the mintage of only 9100 coins, the 1859-O double eagle
has been characterized as the 4th rarest of the New Orleans
double eagles, and it 's no surprise that these coins are rare
and important in all grades.
The majority of surviving specimens appear to be in grades VF
thru EX with condition census beginning at about uncirculated
55. Previously an MS-60 specimen, graded by the Professional
Coin Grading Services was thought to be the only known uncirculated
specimen of this date.
specimen is also quite distinctive in that there is a deep reflectivity
in the fields with a corresponding contrast in the devices presenting
this as a true deep prooflike double eagle' Pilitowski said.
Further noted is "how clean the specimen is with an absolute
minimum of abrasions or other surface imperfections" which in
addition to the overall appearance of the coin given it's deep
mirrors, suggests that special care was used in striking this
coin, which I have not seen in any other example that's even
remotely similar. While not a specimen striking, the overall
quality of the coin cannot be overstated and is without question
the finest known 1859-O Double Eagle to have appeared" he said.
The coin was purchased from a collector in the Northeast, and
while an exact price paid has not been disclosed, Mr Pilitowski
said that the value was in into the 6 figures range. The coin
was purchased by an advanced collector who wishes to remain
anonymous at this time.
What is somewhat of a mystery is where exactly the coin has
originated from. Mr Pilitowski believes that the coin has not
been on the market for perhaps as long as 20 years although
neither the specimen, nor its pedigree has been traced.
Numismatists and other specialists who would like to help in
this endeavor are invited to call Mr Pilitowski at 1-800-624-1870
or contact him thru his website http://www.usrarecoininvestments.com
with information leading to tracing this incredible New Orleans
rarities 137 year history.