Louisiana Purchase
$20 1879-O

Owner Comments:

A stunning newly discovered coin in 2006 which is the third finest 1879-O Double Eagle. Very conservatively graded MS60, but likley to be upgraded in the future as it has no distracting marks and is very original. Consensus shows PCGS 1/0 NGC 5/2. There are actually only two coins better, an an MS63 (Dallas Bank Collection which sold for $115,000 in 2001) and an MS62 (Spinks 12/95, $46,200). Isn't in interesting that these high end coins just do not trade very often?

Doug Winter said of this particular coin, "A very important newly discovered 1879-O was handled by myself and dealer John Dannreuther at the 2006 ANA. This coin was conservatively graded MS60 by NGC and it was notable for having lovely original color and surfaces as well as uncharacteristic satiny luster. There are now four or five Uncirculated 1879-O double eagles known to me. Price levels for this date have skyrocketed in nearly all grades in the last few years." The coin came from a collection of otherwise unremarkable ungraded set of coins in the Southeast at a flea market.

The date is the only New Orleans Liberty Head double eagle that employs the Type Three design. It has a very low mintage, only 2325 coins, making it well known among collectors who do not specialize in double eagles. This is an extremely hard coin to find with choice surfaces adn only a handful are known as such, according to Winter.