1859-O $20 AU55 PCGS. Variety 2....

Description

1859-O Double Eagle, AU55
Partly Lustrous New Orleans Rarity

1859-O $20 AU55 PCGS. Variety 2. At the close of the fiscal year ended June 30, 1859, the New Orleans Mint had received just more than $517,000 in gold deposits. Since the opening of the San Francisco Mint in 1854, gold deposits at New Orleans never returned to their Gold Rush-era levels. In fact, most of the domestic gold bullion deposited for coinage at the U.S. Mint and its branches was received in San Francisco and the New York Assay Office, with large quantities also taken in at Philadelphia. The Dahlonega, Charlotte, and New Orleans branch mints received only token quantities of new gold bullion. The bulk of the gold deposited at New Orleans during the fiscal year 1859 was in the form of foreign coin and imported foreign bullion. New Orleans took in more deposits of foreign gold coinage than all of the other mints and assay offices combined.

Gold coinage at New Orleans was also small in 1859. For the calendar year, only 9,100 double eagles were produced, along with 2,300 eagles. No half eagles, quarter eagles, three dollar pieces, or gold dollars were struck. Both the eagles and double eagles circulated extensively and are scarce today. In total, fewer than 100 1859-O twenties are believed to survive, complemented by less than 75 tens.

Most surviving '59-O double eagles are heavily abraded and/or well-worn. A handful of Mint State coins grade no finer than MS61. This Choice About Uncirculated coin represents some of the finest quality available to collectors for this issue. The surfaces are remarkably smooth and original luster clings to the protected portions of the fields. Wear is light and detail is sharp. Rich orange-gold and straw-yellow hues adorn each side. We look forward to placing this remarkable Southern gold rarity into an advanced double eagle or New Orleans gold collection. Population: 6 in 55, 6 finer (9/18).
From The Marcello Collection, Part II. (Registry values: N4719)

Coin Index Numbers: (NGC ID# 269B, PCGS# 8927, Greysheet# 9895)

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.

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