1855-O Double Eagle NGC AU53. The 1855 double eagle struck at the New Orleans Mint fits directly between two famous rarities. These are the 1854-O and 1856-O, which had even smaller mintages than the 8,000 pieces struck for this issue. As a result, this issue often is overlooked, although they are very rare and seldom seen in high grades.

Of the original mintage, only an estimated 70 to 80 pieces are still in existence, mostly in circulated grades. This makes this issue to be the third rarest New Orleans double eagle. Most of the mintage immediately went into circulation, making AU pieces with just 10 to 12 examples known to be a true rarity. Only one or two truly uncirculated pieces are currently known, all which are tightly locked up in specialized collections.

After the San Francisco branch Mint opened in 1854, mintages of gold coins at the New Orleans Mint dropped considerably. This was the direct result of depositors who mined in the California area, now having the opportunity to let their gold turned into federal gold coins at a reasonable distance and for a reasonable cost. Since 1849, only private coiners, which reputation was heavily disputed, and the Mints in the eastern states were available for this.

Most New Orleans coins are notoriously known for being weakly struck. The present piece is a true exception to that rule, as all the details are very bold. This makes this coin to be one of the best struck 1855-O double eagles currently known. Semi prooflike fields, common with this issue in higher grades, are seen on both sides.

Although this coin spent some time in circulation, and acquired some wear during that period, the fields are remarkably clean for a coin struck in gold. Gold generally is a very soft metal, even when alloyed with silver or copper, and thus easily acquires heavy marks. Prooflike fields tend to make hairlines and hits even more visible, but in hand this coin has no distracting marks except for those consistent with the grade. Even with these marks and slight wear, this coin looks much better than the NGC grade. Combined with the bold strike, the choice fields make this coin look like an AU-58.

The present piece has been off the market for decades and thus is a very fresh piece, rarely offered in such lovely condition. Seldom are select pieces such as thus one seen on the current market, especially not when they have been locked up in old time collections. Certified by NGC in a new holder, this coin is destined for the finest double eagle or New Orleans gold set!