1850-O Liberty Head Double Eagle. AU-50 (PCGS).Handsome deep orange surfaces with tinges of light khaki tinting also discernible as the coin rotates under a light. This is a sharply struck double eagle by New Orleans Mint standards, as befits the issue, and with ample detail remaining the conditionally scarce AU rating from PCGS is fully justified in our minds.The enormous quantities of gold coming from California began to reach the East by 1849, necessitating the creation of a new large denomination coin, the double eagle. The first coins intended for circulation were struck the following year, including at the Mints branch facility in New Orleans. New Orleans location often made it a more convenient place to deposit gold bullion coming from the West. With this gold, the New Orleans Mint struck 141,000 double eagles, which proved to be popular in trade. Ultimately, the New Orleans Mint was the only Southern mint to produce the denomination, while Dahlonega and Charlotte continued to primarily produce coins from locally sourced metal. Once they entered circulation, double eagles proved to be one of the most popular gold coins with which to store wealth. The coins saw heavy use throughout the nineteenth century as a result, the vast majority of early double eagles come quite worn. This is especially the case with the 1850-O issue, where most coins encountered are in the VF and EF range. Beginning at the Almost Uncirculated level, this is an issue that is very rare and in constant demand, both as a first year of issue for the denomination but also as a Southern double eagle. With much to offer, this is worth a close look.
