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Lot
3211

1860-O $1 MS65 PCGS....

2013 July 11 - 14 US Coins Signature Auction - Orlando #1187

 
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Auction Ended On: Jul 11, 2013
Item Activity: 12 Internet/mail/phone bidders
1,906 page views
Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:

1860-O Seated Liberty Dollar, MS65
Well-Preserved Branch Mint Issue
None Numerically Finer at PCGS
1860-O $1 MS65 PCGS. The 1860-O Seated Liberty dollar claims a substantial mintage of 515,000 pieces, making it one of the more available issues of the series and a favorite choice of type collectors. The 1860-O was primarily intended for use in the China trade, and most of the mintage was probably sent to the Orient near the time of issue. However, it seems that a considerable number remained in domestic hands. Several thousand examples were still in government storage facilities in the 1960s and the issue was well-represented in the great Treasury releases of 1962-1964. The coins from the Treasury hoard were almost all in lower Mint State grades, due to excessive bagmarks. Q. David Bowers states, "I have never seen an MS-64 or MS-65 coin from the Treasury hoard. When such coins come on the market they are usually from cabinets formed years earlier."

Unfortunately, few 19th century collectors were interested in branch mint coins, so few old-time cabinets of the type Bowers refers to included an example of the 1860-O. One early auction appearance was in the Fifth Semi-Annual Sale (W. Elliot Woodward, 10/1864), lot 323, "1860 From the Orleans mint, very fine, scarce." The coin realized $2.30, to Thomas Warner. The 1860-O remains very rare in Gem condition or better, and the last time Heritage offered a really high-grade specimen was lot 966 of the Dallas Signature Auction in November 2007. The MS66 NGC coin in that offering realized $63, 031.50.

The present coin is a delightful Gem, one of the finest certified at PCGS. The design elements are sharply detailed in most areas, with just a touch of softness on some star centrils. The pleasing surfaces display strong satiny mint luster under attractive shades of pink, gold, and amber patina. Only a few minor contact marks are evident and eye appeal is outstanding. Population: 9 in 65 (1 in 65+), 0 finer (6/13).(Registry values: N4719) (NGC ID# 24Z3, PCGS# 6950)

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