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Lot
1999

1879-O $20 AU58 PCGS. CAC....

2009 December Houston, TX US Coin Auction #1132

 
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Auction Ended On: Dec 4, 2009
Item Activity: 7 Internet/mail/phone bidders
8,610 page views
Location: George R. Brown Convention Center
1001 Avenida de las Americas
Houston, TX 77010
Description:
Desirable 1879-O Twenty, AU58
1879-O $20 AU58 PCGS. CAC. The 1879-O Liberty double eagle was the only New Orleans issue of the denomination after the Civil War, and the only issue of the Type Three design, greatly increasing its desirability.
The New Orleans Mint fell into Confederate hands in 1861, and after a brief production early that year, was dormant until 1879 when coinage operations began again. The reason that the Mint was reopened can be explained in two words: Morgan dollars. Morgan dollars represented more than half of the entire New Orleans output from 1879 through 1904. Afterward, the Mint operated for a few more years until 1909, when it was closed for good. During those 31 years, the Louisiana facility coined more than 186 million silver dollars. During the same period, that Mint struck just under 136 million coins of all other denominations, including dimes, quarters, half dollars, half eagles, eagles, and double eagles. In 1879, they struck 1,500 eagles and 2,325 double eagles.
Few survivors remain today from the 2,325 coin mintage, and they are usually encountered in circulated grades. This near-Mint example is a remarkable representative with sharp details, frosty luster, and brilliant green-gold surfaces. Only a few scattered surface marks are evident on both sides, especially the obverse, and they are entirely consistent with the grade. Population: 3 in 58, 1 finer (10/09).(Registry values: N4719) (NGC ID# 26B8, PCGS# 8990)

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