1860-O $20 AU58 PCGS....

Description

Important AU58 1860-O Double Eagle

1860-O $20 AU58 PCGS. The New Orleans Mint, unlike its counterparts at Charlotte and Dahlonega, was equipped to produce gold denominations higher than the half eagle. Ten dollar gold pieces with an "O" mintmark appeared in 1841, and the Louisiana facility struck double eagles alongside Philadelphia in 1850, the first year of production for the twenty dollar gold piece. After the early years, however, the New Orleans Mint's production of double eagles slowed and became erratic. In 1860, against the backdrop of swiftly deteriorating national unity, that year's issue amounted to just 6,600 pieces.
While the 1860-O is not accorded the "stopper" status of issues such as the 1854-O and 1856-O, it is one of the more challenging Southern double eagles, and in better grades it proves just as elusive as its better-known predecessors. In the second edition of Gold Coins of the New Orleans Mint 1839 -1909, Doug Winter (2006) describes the 1860-O as "unlocated in Mint State," though NGC's Census Report lists an MS60 Prooflike example pedigreed to the S.S. Republic. Absent this specimen, now in a tightly held private collection, the only other Mint State example is an NGC-certified MS62. Winter asserts that the current pool of 20 AU58 pieces--16 at NGC and only four at PCGS (6/09)--is "highly inflated by resubmissions."
This high-end piece's surfaces are vivid yellow-gold with minor emerald and honey-orange overtones. Though the left obverse stars are softly struck as always, the rest of the coin shows better definition. A number of fine marks affect the luster of the fields, though the margins and protected areas show distinct reflectivity. Aside from a scuff to the right of the eagle and an abrasion on the shield, the coin shows few individually distracting flaws. Opportunities to acquire a near-Mint representative of the 1860-O double eagle are infrequent, at best.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 269E, PCGS# 8930, GSID# 9897)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 6,600

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from PCGS