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Description

1854-O Double Eagle--A Legendary Rarity and One of the Finest Known

1854-O $20 AU58 NGC. The 1854-O is one of the two rarest and most famous gold issues produced in the New Orleans mint. Only the 1856-O is as rare. Both issues have been regarded as numismatically significant since at least the early 1940s, although it is only recently that they have begun to sell for prices commensurate with their rarity and fame. The Eagle Collection 1854-O is tied with the Dallas Bank Collection specimen, (previously believed to be the finest known of this rare issue). That coin soared to $161,000 when it was sold in October 2001. We sold a PCGS graded XF45 in our February 2001 Long Beach Auction for $87,400. The 1854-O is generally considered by specialists to be the third rarest Type One Double Eagle, trailing only the uncollectible 1861 Paquet and the 1856-O. An estimated 25-35 1854-O Double Eagles are known in all grades with five to seven in About Uncirculated and none in Uncirculated.
The present example is in the Condition Census for the issue and it is certainly one of the highlights of the Eagle Collection. The reddish tinged surfaces are original and bright overall with a semi-reflective finish evident in the fields. Well struck throughout, the surfaces are exceptionally clean for the grade with the only mentionable abrasion located just to the right of the Y in TWENTY on the lower reverse. (NGC ID# 268T, PCGS# 8912)

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Auction Dates
January, 2002
9th-12th
Internet/Mail/Phone Bidders: 10
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