1859-O Double Eagle PCGS AU50 CAC. In his 2004 reference A Guide Book Of Double Eagle Gold Coins, Q. David Bowers has the following short comment referring to this issue:

In any and all grades the 1859-O double eagle is important and rare

This is indeed the easiest way of describing the present piece. With a mintage of just 9,100 coins, the 1859-O double eagle is placed behind the 1854-O and 1856-O in terms of overall rarity, a title shared with a few other New Orleans double eagles of the 1850s. Douglas Winter considers this issue to be the 4th rarest double eagle struck at the New Orleans Mint. He also notes that this issue is usually found with heavy abrasions in the fields.

Most of the gold coins minted in this period appeared in circulation shortly after their mintage. As a result, any pieces above extremely fine are mostly very rare, for all gold coins. This issue is no exception, and of the original mintage, an estimated 80 coins are still in existence in all grades. The population reports show approximately 110 coins graded, but these numbers are certainly influenced by resubmissions.

Although this piece spent some time in circulation before the civil war (or immediately after it), the fields on both sides are remarkably clean. Double eagle experts note that the New Orleans issues are notoriously known for showing heavy abrasions. This is also confirmed by the many pieces that show this grade-limiting future. The present piece, however, is of premium quality on all accounts, including the marks on the surface, which are not as distracting as usually seen.

The majority of the surviving pieces, as is the case with all double eagles struck at the New Orleans Mint experienced heavy circulation. As a result, completing this set in any grade above Extremely Fine is a true accomplishment, and something that has not been done for many people. For the collector at heart, this is a very interesting and difficult set to complete in higher grades, and which is certainly destined to hold its value for a long time.

A very lustrous piece for the grade, and very rare as such. Very boldly struck, another future seldom seen on this New Orleans gold issue from before the civil war. Original color is visible on both sides, which are completely original. The present coin represents a rare opportunity to acquire a premium quality double eagle, as is confirmed by the CAC sticker.