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2889

1852-O $10 AU50 PCGS....

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

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

Long Beach, CA

Description:
Reddish Tinted AU50 1852-O Ten
1852-O $10 AU50 PCGS. Why the mintage of eagles at the New Orleans Mint plunged from 263,000 coins in 1851 to a mere 18,000 pieces in 1852 is not clear. What is apparent to collectors, however, is the limited availability of this blatantly underrated issue. Fewer than 20 specimens are believed extant in the Almost Uncirculated grade range, with only three or so coins remaining in full Mint State condition. That is less than one-tenth of the surviving population of the 1851-O issue, yet the prevalent price guides suggest a 2:1 value ratio. This inexplicable discrepancy can only be rationalized through a supply-to-demand scenario; the availability is low, but few collect the series by date and mintmark. This 1852-O specimen is especially attractive with rich, original reddish patina over each side. The surfaces are remarkably clean for a coin that was in circulation probably for several years. Certain to be of interest to the collector of this still-undervalued series.
From The Grand Lake Collection.(Registry values: N2998) (NGC ID# 263D, PCGS# 8609)

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