LOT #3245 |
Current Bid: $8,200
1879-O $20 AU55 NGC. Winter-1....
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Description
1879-O Double Eagle, AU55
Only Type Three New Orleans Twenty
Ultra-Low Mintage of 2,325 Coins
Unusually Unabraded and Choice
1879-O $20 AU55 NGC. Winter-1. Orange-gold surfaces contain
slight prooflike mirroring in select protected areas. Weakness is
only attested on the uppermost strands of obverse hair. Defects are
scattered and minor, in sharp contrast to most examples of this
issue, which exhibit deep abrasions, and additionally,
discoloration. This example avoids both fates. Regarding this
issue, Doug Winter states, "[t]he eye appeal for the 1879-O double
eagle is well below average...[t]he nit-picky collector may have to
wait many years for the chance to buy the 'right' example." Given
the superlative qualities of the present offering, the wait is
over.The 1879-O completes the trifecta of ultra-low mintage New Orleans double eagle issues, joining the famed 1854-O and 1856-O. In fact, its mintage of 2,325 coins is significantly smaller than the 1854-O's production of 3,250 and almost reaches the 1856-O's output of 2,250 double eagles. However, the present issue is much more available to collectors. Some 1879-O examples were exported and more were saved overall than the issue's 1850s counterparts. Bowers estimates about 100 survivors, Garrett and Guth suggest less than 150, while Winter narrows the range down to 115-135. For 1854 and 1856, Winter suggests 30-40 known of each, while Garrett and Guth and Bowers each posit fewer than 25 survivors for 1856 and in the 25-35 range for 1854. Therefore, depending on which estimate is used, there are about 4-6x the number of survivors for 1879-O than for 1854-O or 1856-O.
While the 1854-O and 1856-O have greater rarity (and therefore greater prices), the 1879-O gains significant additional collecting pressure due to its position within the series. The New Orleans Mint's first tenure came to an end in 1861 with the state's secession and the Mint's seizure by the Confederate government. Upon its reopening in 1879, it was mainly a Morgan Dollar production facility until 1890. However, there were small emissions of eagles in 1879-1883 and 1888, and its only other output was the 2,325 double eagles struck in 1879. In the 18 years since New Orleans last produced double eagles in 1861, the denomination's design had changed twice, making the 1879-O double eagle the sole Type 3 New Orleans issue, and significantly enhancing collecting demand in the process.
The 1879-O remains very rare in high grade. In the newly-published Fifth Edition of his book on New Orleans gold coins, Doug Winter lists just seven 1879-O double eagles certified as Mint State, and our and Stack's Bowers' archives show around a dozen unique examples in AU58, rounding out the list of examples that are numerically finer than the present offering. Certification numbers indicate 13 and 21 finer certifications at PCGS and NGC, respectively, although Winter states that NGC's numbers are likely inflated by resubmissions. Given that only 20 or so numerically finer examples of this date exist and that the present offering is significantly more eye appealing than most, it can be definitively proven that the wait for a choice, high-grade example, as warned by Winter, is truly over.(Registry values: N4719)
Coin Index Numbers: (NGC ID# 26B8, PCGS# 8990, Greysheet# 9931)
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.
Auction Info
2026 March 26 - 28 US Coins Signature® Auction #1391 (go to Auction Home page)
Proxy Bidding Ends
March
26th
Thursday
4:50 pm CT
Auction Dates
March
26th-28th
Thursday-Saturday
Proxy Bidding Time Remaining
12 Days
22h 58m 15s
Bids + Registered Phone Bidders: 21
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This lot is in: 1 -
Signature® Premier Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 3001-3316) - 5:00 PM Central Time, Thursday, March 26, 2026.
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Additional Location Info:
Heritage Auctions - Dallas
2801 W. Airport Freeway
Dallas, TX 75261
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