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Lot
2862

1841-O $10 AU55 PCGS....

2009 February Long Beach, CA Signature US Coin Auction #1122

 
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Auction Ended On: Feb 6, 2009
Item Activity: 7 Internet/mail/phone bidders
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Location:

Long Beach, CA

Description:
Important Choice AU 1841-O Eagle
1841-O $10 AU55 PCGS. The term "condition rarity" is often used to describe a coin which is unknown in Gem condition, or an issue with a population of 10 or so Uncirculated pieces. Then what do we call the 1841-O eagle? Not a single example has ever been certified in Mint State condition by NGC or PCGS, and even AU coins are rarely offered. Due to the importance of this issue in high grade, the NGC and PCGS population data is littered with duplication in the About Uncirculated grades. The combined total of certified AU examples is 35 pieces, yet Doug Winter (2006) suggests that only between five to seven 1841-O tens actually exist in that range.
The reason for the rarity of this issue is multifold. Having a mintage of only 2,500 pieces sets the stage. Then we consider that the entire production of coins--albeit minuscule--entered circulation. Couple those facts with the ubiquitous gold meltings of the ensuing decades and other means of attrition, and the estimated extant population--in all grades--of only 50-60 coins is plausible.
The present Choice AU coin is well struck for the issue with only modest wear across the softly lustrous lemon-gold devices. Scattered surface abrasions appear on each side, including one on the portrait, but the overall eye appeal is strong. A great coin that combines interesting eye appeal and noteworthy history.
From The Grand Lake Collection.(Registry values: N4719) (NGC ID# 262J, PCGS# 8583)

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