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Lot
2902

1856-O $10 MS60 NGC....

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

 
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Auction Ended On: Feb 6, 2009
Item Activity: 11 Internet/mail/phone bidders
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Location:

Long Beach, CA

Description:
Prooflike 1856-O Eagle, MS60
Tied for Finest Certified
1856-O $10 MS60 NGC. We are pleased to offer the first Mint State 1856-O eagle ever to cross the auction block at Heritage. As of 2006, only two Mint State pieces were listed in the combined NGC and PCGS population data--one MS60 coin at each service. As of December 2008, we note three MS60 examples at NGC with one in the same grade at PCGS. No specimen is graded finer. Whether or not the NGC Census Report tally of three coins includes a resubmission is unknown, but it is certainly possible.
Only 14,500 1856-O eagles were struck and, astonishingly, less than one percent of that total has survived to this day. Most of the extant pieces reside at the VF level and many are impaired in some manner. Over the past century, even advanced collectors had no choice but to compete for ownership of Almost Uncirculated specimens. In fact, the record price paid for an 1856-O ten was established when we sold an AU58 example as part of our September 1998 Long Beach auction. That piece realized over $10,000 more than a decade ago. Excitement escalates as we await the new record to be set by the current offering.
This example is an incredible 1856-O ten with exceptional surfaces for the grade and date. Doug Winter writes: "This appears to be an issue that is essentially unknown without heavily abraded surfaces." The present piece does have some scattered surface marks, but none can be called deep marks. It has excellent greenish-yellow luster with extensive reflectivity in the fields, typically of a small number of known examples. Census: 3 in 60, 0 finer (12/08).
From The Grand Lake Collection.(Registry values: N4719) (NGC ID# 263R, PCGS# 8620)

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