Mint $20 Rarity – 1861-O Liberty Double Eagle NGC AU55

The New Orleans Mint struck a small mintage of 17,741 Liberty double eagles in the early part of 1861, on the brink of the Civil War. Noted gold specialist Doug Winter reports only 5,000 of those coins were struck before January 26, while the New Orleans Mint was still operating under federal authority. Another 9,750 examples were produced between January 26 and March 31, while the State of Louisiana was the governing authority. A final production of 2,991 specimens was achieved under the auspices of the Confederacy, before the Mint shut its doors on April 30. Although three obverse dies were sent to the New Orleans Mint, it seems all the coins were struck from the same die pair. Most of the coins show some weakness in the numerals of the date, toward the bottom. About one fifth of the surviving population features a strong date, with a die crack from the rim near star 2 to Liberty’s chin. Attempts have been made to determine which coins were struck first and which were produced by the Confederacy, but there is no general agreement at this time.
Collecting double eagles was not popular in the 19th century, as the cost of assembling a collection of twenty dollar gold coins was prohibitive for most numismatists of the period. Little attention was paid to branch mint issues and the few wealthy collectors who did assemble date runs of large denomination gold coins usually preferred to order proof from the Philadelphia Mint to update their collection. As a result, few high-quality examples of the 1861-O were saved for numismatic purposes and no more than 150-175 specimens survive today in all grades. Most examples seen are in the XF40 to AU50 grade range. Winter notes, “Properly graded AU55 and AU58 coins are very rare, and I haven’t seen more than 3-5 with claims to an Uncirculated grade.”

In hand, this example looks far better than it shows in our images and it exhibits considerable luster and flash. The NGC population is 15 (one of which is designated “Star”) with 22 graded higher.

Listed at $72,000 in the CDN CPG and $75,000 in the NGC price guide.

Offered at $69,900 Delivered

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