1851-O $5 MS64 PCGS. CAC. Variety 2....

Description

1851-O Half Eagle, MS64
Finest Known at Either Service
Unseen at Auction Since 2005

1851-O $5 MS64 PCGS. CAC. Variety 2. Half eagle production was intermittent at best at the New Orleans Mint in the 1840s and 1850s. During those years, the Charlotte and Dahlonega mints consistently struck half eagles, while the New Orleans Mint focused on ten and twenty dollar gold denominations. No O-mint half eagles were struck at all for five out of six years in a span from 1848 to 1853.

A moderate 1851-O mintage numbering 41,000 half eagles interrupted the dry spell. Most coins that survive today from that production grade VF to XF. About Uncirculated coins are scarce, and Mint State examples are truly rare. U.S. gold authority Doug Winter estimates only seven or eight Uncirculated 1851-O half eagles exist. The finest of those is clearly this near-Gem example, which was last seen at auction as part of The Old Colony Collection in 2005.

Winter also notes the 1851-O is "the least well-struck New Orleans half eagle from this decade." Central weakness at Liberty's face curls and at the eagle's legs, talons, and the nearby arrow fletchings are the culprits. This coin has isolated weakness in those locales as might be expected, although it is sharply struck in virtually all other areas, including Liberty's top and back curls and at the hair bun. The eagle's upper two-thirds including the wings, torso, neck, and head are equally sharp, as are all peripheral elements on each side.

This coin's claim to fame is its outstanding mint-fresh luster and tempting green-gold color that combine for outsized eye appeal. While a few tiny marks account for the numeric grade and apparently deny full Gem status, they do not diminish the coin's vibrant visual allure. The fields alternate between reflectivity and satin-smooth texture for dynamic lustrous interplay. The accompanying CAC endorsement is appropriate in all regards. Given the popularity of branch mint gold in the half eagle series -- for which New Orleans Mint rarities are increasingly appreciated and are gaining momentum -- we expect a long line of bidders lifting this splendid 1851-O five dollar to new heights.
Ex: Reportedly long-held in a Wayte Raymond coin board; The Old Colony Collection (American Numismatic Rarities, 12/2005), lot 1564.
From The Allan H. Goldman Collection. (Registry values: P7)

Coin Index Numbers: (NGC ID# 25U9, PCGS# 8249, Greysheet# 9000)

Metal: 90% Gold, 10% Copper
Weight: 8.36 grams
AGW: 0.27oz
Mintage: 41,000

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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