1859-O Liberty Head Eagle. AU-50 (PCGS).This warmly patinated, medium gold example ranks high in the census of surviving 1859-O eagles. Striking quality is typical of the issue, the overall detail is sharp with appreciable softness confined to the obverse stars, the centrils for which are mostly absent. The eagles plumage on the reverse is sharp throughout, even over the right leg and talon, and the denticulation is bold to sharp around both sides. Faint remnants of mint luster flash into view as the surfaces rotate under a light. It is a technically superior and aesthetically pleasing survivor of this challenging key date issue, and we anticipate keen interest from advanced Southern gold specialists.The rarest New Orleans Mint eagle of the No Motto design type, the 1859-O has a paltry mintage of 2,300 pieces. Fewer than 100 coins are believed extant in all grades, estimates ranging from a low of 45 to 55 pieces (Doug Winter, 2006) to a high of 50 to 75 examples (<em>PCGS CoinFacts</em>, current). The typical survivor of this heavily circulated issue is well worn, typically VF or EF, and many are also impaired due to harsh cleaning or surface damage. In straight-graded AU, as here, the 1859-O is very rare, and such pieces are among the finest obtainable in todays market. Prior to the salvage of the <em>S.S. Republic</em> treasure the 1859-O was unknown in Mint State, although that shipwreck yielded a single Uncirculated coin that has since been certified MS-62 by NGC.
