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1879-O $10 MS61 PCGS Secure. Variety 1....
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Description
1879-O Liberty Eagle, MS61
Low-Mintage Rarity
Tied for Finest Certified
1879-O $10 MS61 PCGS Secure. Variety 1. Closed in the early
days of the Civil War, the New Orleans Mint was reopened in 1879,
primarily to help produce the enormous number of Morgan dollars
required under the terms of the Bland-Allison Act. Fortunately, a
small number of eagles and double eagles was also produced in 1879,
and these coins are quite popular with present-day collectors.From a modest mintage of just 1,500 pieces, the 1879-O Liberty ten is the third-rarest New Orleans eagle. Doug Winter estimates 115-135 examples remain extant in all grades, and high-grade specimens are rare. Only two coins have been certified in Mint State, the present PCGS-graded example, and an NGC-graded MS61 (4/14). Only one die variety is known for the date.
Collecting large denomination gold coins did not become popular in this country until the late 1930s, but the 1879-O had made a name for itself long before the rest of the series became popular. An early auction appearance of the 1879-O was in the Charles W. Cowell Collection (B. Max Mehl, 11/1911), lot 488:
"1879 Only 1,500 coined. Extremely rare. In fact, one of the rarest of the entire series."
The current auction prices realized record for an 1879-O is $64,625.
The present coin is a spectacular Mint State specimen, with sharply detailed design elements and prooflike orange-gold surfaces that show the expected number of minor contact marks for the grade. A few scattered alloy spots are present and a small planchet void is located in the lower-left obverse field. The overall presentation is quite attractive and the technical grade is unsurpassed. This coin should find a home in the finest collection or Registry Set.(Registry values: N7079)
Coin Index Numbers: (NGC ID# 265P, PCGS# 8685)
Weight: 16.72 grams
Metal: 90% Gold, 10% Copper
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
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