1859-O Eagle - 1859-O $10 Eagle NGC AU55

1859-O Eagle (1859-O $10) NGC AU55. The rarest New Orleans 1859-O Eagle, the 1859-O had a mintage of just 2,300 coins. Of this number, an estimated 50 to 60 remain in all grades, mostly well worn, damaged/cleaned or otherwise processed. Truly original pieces, in any grade, or prime rarities and when in About Uncirculated condition, such as the coin we presently offer are very seldom offered. While Breen claimed that only 12 pieces were known in all grades more coins have appeared in recent years, but not enough to claim this coin an easy to find issue in any grade.

Only one uncirculated example of this issue was discovered on the SS Republic shipwreck, unlike many other New Orleans gold issues which were often well represented in higher grades. Other shipwrecks have yielded similar or less (i.e. no) 1859-O eagles and no hoards have ever appeared on the market. With time passing on, this would also become ever more unlikely, and the rarity of this issue would most likely remain the same for many decades to come. Unlike other New Orleans issue, this is an issue which is not only rare in higher grades, but in all grades and it has a low mintage as well. As such, not only specialists understand the desirability of this issue in any grade, making it ever more popular with both collectors and investors.

Any originality is hard to find on this issue, as are coins with relatively mark-free surfaces. Gold is a soft metal, even when alloyed with gold and these coins are extremely vulnerable for contact with other coins. Because of their extensive handling and circulation most New Orleans gold coins will show deep marks on the surface, with scattered minor ones around as well. Any New Orleans coin with less than average marks must be regarded as a rarity, and are very infrequently traded in any grade. Other problems, like damaging or cleaning are also common, and these form the majority of known pieces of most New Orleans eagles.

The piece we offer here not only is in a high grade for the issue, it also must be one of the prime original pieces known. Its quality is nearly perfect for a 1859-O eagle, with dark original toning with satiny luster remaining in the protected areas. Except for a few minor scattered marks on the reverse none are noticeable, and the strike appears to have been above average for the issue. Deep orange gold color is showing on both sides, resulting in excellent eye-appeal even with the strictest standards. With perhaps no more than 8 pieces known in all uncirculated grades, with just a few graded this high this is a very important offering for the advanced collector of New Orleans gold. This coin has been certified by NGC in a new holder