Owner Comments:
This is unequivocally the finest known 1859-O of this fourth rarest double eagle New Orleans date (according to Doug Winter) and thus a highlight of the Louisiana Purchase.
This coin looks like a presentation piece due to its excellent strike and proof-like luster, although it probably isn't.
One of the most interesting aspects of this date are the clashmarks. With clashmarks, you have to think upside down and mirror image to understand how the other side of the die made the marks. Most, but not all coins of this date have clashmarks on the obverse - over the ear (the horizontal strips in the shields) , on the neck (a star) and below the curls (the top of the rays). On the reverse are is a clashmark above the left wing (the bottom of the hair on Miss Liberty). There is only one 1859-O that I am aware of that does not have clashmarks -- it is part of a collection in the PCGS Registry Sets. I actually have two coins from the date, and both have exactly the same clashmarks.
See my 1861-O double eagle for another interestin story on clashmarks.
This MS 61 PL coin is only one of two coins in NGC and PCGS that are graded as uncirculated (the other is a PCGS MS60). One older PCGS AU58 might be graded uncirculated today, according to Winter.
This coin is proof-like in luster (obviously) and so it looks like it might have been some kind of presentation piece, but was probably just one of the first struck from the die.