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1855-O $20 AU55 NGC. Variety 1....
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Sold on Aug 24, 2022 for:
$56,400.00
Bid Source: Internet bidder
Description
1855-O Liberty Double Eagle, AU55
Underrated Southern Gold Issue
Third-Rarest O-Mint Twenty
1855-O $20 AU55 NGC. Variety 1. Following the opening of the
San Francisco Mint in 1854, gold deposits at the New Orleans Mint
dropped precipitously. It was much easier, more cost effective, and
considerably safer to deposit the massive influx of bullion from
the California gold fields at the local Mint than to ship it off to
New Orleans for coinage. Accordingly, mintages of double eagles
were decidedly anemic at the older Southern facility during this
time period. The New Orleans Mint struck only 8,000 Liberty double
eagles in 1855 and Doug Winter believes the 1855-O is among the
rarest twenty dollar gold issues from that famous Southern
facility. In his Gold Coins of the New Orleans Mint
1839-1909, Winter notes:"I regard the 1855-O as the third rarest Liberty Head double eagle [from the New Orleans Mint], eclipsing such better-known dates as the 1859-O, 1860-O, and 1861-O ... Fewer than 20 properly graded AUs exist, and the date is very rare in the higher AU grades. I have only seen 1 or 2 with claims to Uncirculated."
As Winter notes, the 1855-O has received relatively little attention over the years, compared to some other issues in the series. It may have been overshadowed because of its placement between the two legendary rarities of the series, the 1854-O and the 1856-O. An early auction appearance for the 1855-O was lot 1125 of the John Nickerson Collection (Thomas Elder, 12/1933):
"1855. $20. New Orleans. Very fine. Has a record to around $200. Unlisted I believe in Raymond for price."
Elder's price estimate was quite generous for that time, but interest in Southern gold has increased tremendously over the years, and prices have risen accordingly. Recent sales include the AU55 NGC example in lot 5688 of the ANA Signature (Heritage, 8/2014), that realized $67,563.
The present coin is an impressive Choice AU specimen that shows only light wear on the high points of the well-detailed design elements. Almost all interior detail remains intact on the devices, but the mintmark was softly impressed on the left side, like most examples seen. The greenish-gold surfaces exhibit the expected number of minor abrasions for the issue, with traces of original mint luster on the devices and some prooflike reflectivity in sheltered areas of the fields. This coin will be a welcome addition to a fine collection of Southern gold. Census: 12 in 55, 6 finer (7/22).
From The John Franklin Donnelly Jr. Collection. (Registry values: N4719)
Coin Index Numbers: (NGC ID# 268W, PCGS# 8915, Greysheet# 9853)
Weight: 33.44 grams
Metal: 90% Gold, 10% Copper
Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.
View all of [The John Franklin Donnelly Jr. Collection ]
Auction Info
2022 August 22 - 28 US Coins Signature® Auction #1348 (go to Auction Home page)
Auction Dates
August, 2022
22nd-28th
Monday-Sunday
Bids + Registered Phone Bidders: 16
Lot Tracking Activity: N/A
Page Views: 285
Buyer's Premium per Lot:
20% of the successful bid per lot.
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