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Significant 1854-O Liberty Double Eagle AU58

1854-O $20 AU58 NGC. Lovely reddish-orange surfaces are not without a few small, scattered abrasions and retain generous glimpses of prooflike luster, especially on the reverse. Although there is a noticeable break in luster on the highpoints and exposed fields, one look at the flashy surfaces and one immediately recognizes that this is no low-end AU example. The striking details are very well executed throughout and the overall eye appeal is excellent.
The 1854-O is a glamour issue among New Orleans Twenties, indeed one of the most prized Double Eagle rarities in the entire series. The original mintage was a stingy 3,250 pieces, but even this tiny production does fully convey the coin's extreme rarity in all grades. It compares favorably to other well known Double Eagle issues as the 1856-O, 1870-CC, 1881, 1885, and the proof-only 1883 and '84 dates. To date, no Mint State examples have been certified by either major grading service. Consequently, this attractive AU58 representative holds a solid claim to being one the finest known examples.
Among O-mints in the series, only the 1856-O Twenty (also offered here on "platinum night") is as rare. Both issues have been regarded as numismatically significant for many decades, although it is only recently that they have begun to sell for prices commensurate with their rarity and fame. In researching Heritage auctions, a PCGS AU53 realized the impressive price of $368,000 in the 2005 FUN Sale, nearly double the hammer price on an NGC AU58 just a year earlier, and exactly four times what an NGC AU58 brought three years prior. Of course this trend can't go on indefinitely, but prized gold rarities are the numismatic equivalent of blue chip stocks, as their recent performance indicates. Population: 3 in 58, 0 finer (6/05).(#8912)(Registry values: N10218) (NGC ID# 268T, PCGS# 8912)

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Auction Dates
July, 2005
Internet/Mail/Phone Bidders: 8
Members Tracking: N/A
Page Views: 1,901

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