Liberty Head Eagle

Mint State 1842-O Eagle

Underrated Condition Rarity

1842-O Liberty Head Eagle. Winter-3. Unc Details--Repaired (PCGS).

Offered is a highly significant Mint State survivor of an early New Orleans Mint gold issue that is scarce and underrated even in the finer circulated grades. This is a fully struck coin that retains razor sharp detail from the rims to the centers. Whereas most of the few high grade 1842-O eagles extant exhibit softly frosted luster, the present example is curiously reflective in the fields and has the appearance more of an Altered Surfaces qualifier as opposed to that assigned by PCGS. The present example is free of marks that are worthy of mention and exhibits vivid olive-orange patina that enhances the eye appeal. An intriguing piece, far more attractive in hand than the assigned grade might suggest, and a formidable rarity that deserves serious bidder consideration. In 1841, the New Orleans Mint began production of eagles, striking some 2,500 examples of the denomination that first year, and dramatically increasing production in 1842 with an output of 27,400 coins. Despite the more than ten-fold uptick in mintage, the 1842-O is still one of the rarer eagles from this mint. Douglas Winter in Gold Coins of the New Orleans Mint: 1839-1909 (2020 edition) rates the 1842-O as the 12th rarest O-Mint eagle and observes that it is especially challenging to locate in grades above VF or EF. In About Uncirculated condition this issue is an underrated rarity, while in Mint State it is even more so. PCGS and NGC combined report only 11 grading events in Mint State, including a Specimen-60 graded by NGC, but not including the present example in PCGS Unc Details. At the lower reaches of the Condition Census, this 1842-O clearly represents an important bidding opportunity for advanced collectors of Liberty Head gold or New Orleans Mint coinage.

PCGS# 8587. NGC ID: 262N.

From the Steve Studer Collection.

Estimate: $ 10000