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Lot
2934

1857-O $10 AU58 PCGS. With a mintage figure of just 5,500 coins, the 1857-O is the third scarcest No Motto eagle from the N...

2006 October Dallas Signature Coin Auction #428

 
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Auction Ended On: Oct 25, 2006
Item Activity: 9 Internet/mail/phone bidders Number of Bidders
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Description:
Probable Finest Known 1857-O Ten Dollar, AU58 PCGS
1857-O $10 AU58 PCGS. With a mintage figure of just 5,500 coins, the 1857-O is the third scarcest No Motto eagle from the New Orleans Mint, trailing only the 1841-O and the 1859-O. According to Doug Winter's newly-released second edition of his book Gold Coins of the New Orleans Mint, 1839-1909, there are an estimated 70-80 pieces known including 14 to 17 in the various AU grades. The 1857-O is one of the few eagles from this mint that has never been certified by the major services in Uncirculated.
The present example is the finest 1857-O eagle we can recall having seen and it could very possibly be the finest known. It displays magnificent deep, original orange-gold color atop lustrous and uncommonly clean surfaces. We have not been able to verify this but we believe this may, in fact, be the 1999 ANA: 8110 coin (ex: James Stack Collection) that sold for $20,700 seven years ago. The present coin is clearly finer than the ANR 7/05: 306 coin (ex: Warren Miller collection), which was graded AU58 by PCGS and sold to a well-known specialist/collector for almost $20,000.
This is an extremely important coin for the advanced collector as it could very well be the finest known example of one of the rarest New Orleans eagles. Most of the Finest Known or high Condition Census New Orleans eagles from the 1840s and the 1850s are off the market in tightly-held private collections and once this coin is sold, who knows how long before another high-end 1857-O is made available to advanced specialists?(Registry values: N2998) (NGC ID# 263U, PCGS# 8623)

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