1854-O New Orleans double eagle will start at $300,000 on June 8

paulfrasercollectibles

2015-06-26 13:44:08

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1854-O New Orleans double eagle will start at $300,000 on June 8

The 1854-O New Orleans double eagle will lead a sale of US coins at Heritage Auctions

Paul Fraser Collectibles,Wednesday 28May 2014

An 1854-O New Orleans type one double eagle is the headline lot of Heritage Auctions' June 4-8 US Coins Signature sale in Long Beach with a starting bid of $300,000.

The issue is exceptionally rare due to the recently opened San Francisco Mint, which led to a major drop in the number of gold coins produced in New Orleans.

1854 $20 HeritageThe 1854-O double eagleis one of a relatively small number produced in New Orleans

Very few museum grade specimens are known to be available, with just 16 known examples graded above AU50 and 21 recorded in total.

The example offered is graded AU55 and last appeared at auction over 40 years ago. It features superb surfaces, marred only by a light scratch across the obverse.

A 1912 Saint-Gaudens proof double eagle is valued in excess of $130,000.

The piece is one of just 74 struck for the year, although a relatively high number (around 40-50) are known to have survived up until the present day.

In August last year, a new world record for the issue was set when a 1912 proof made $211,500 at Heritage's Rosemont Signature in Illinois.

Other lots on offer include an 1851 Humbert $50, which carries an opening bid of $100,000.

We have a fascinating selection of rare European coins available.

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