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Lot
2905

1857-O $10 AU58 NGC....

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:
Elusive 1857-O Liberty Eagle
Ex:
S.S. Republic, AU58
1857-O $10 AU58 NGC. Ex: S.S. Republic. The 1857-O Liberty, No Motto eagle boasts the third lowest mintage of the design type, with only 5,500 pieces coined. The issue is also considered the third rarest date in the series, both in terms of overall rarity and in high-grade rarity. Doug Winter estimates a surviving population of 70-80 examples in all grades, with most examples seen in the XF-AU level. Mint State coins are prohibitively rare. One example was cataloged as Uncirculated in the Bell Collection (Stack's, 12/1944), lot 702. This coin probably reappeared in the James Stack Collection (Stack's, 10/1994), lot 1319. Doug Winter believes he knows of one other example that would qualify as Mint State today, but no coin has been awarded a Mint State grade at NGC or PCGS to date (12/08). The present coin is the finest of three examples recovered from the wreck of the S.S. Republic.
The coin offered here is a virtually unimprovable example, in view of the rarity of Mint State coins. Only the slightest traces of handling show on the high points of the design, and partially subdue the mirrorlike fields. The only abrasions that merit mention are a couple just behind the mouth of Liberty, and eye appeal is strong for the grade. Census: 16 in 58, 0 finer (12/08).(Registry values: N2998) (NGC ID# 263U, PCGS# 8623)

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