||Numismatic Guarantee Corp has assigned
the coin a Mint State 61 "Proof like"
grade. Pilitowski said it is just the second known
uncirculated specimen and is the finest certified
59-O by any of the third party grading services.
Given the mintage of only 9100 coins, the 1859-O
double eagle has been characterized as the 4th
rarest of the New Orleans double eagles, and
it 's no surprise that these coins are rare
and important in all grades. The majority of
surviving specimens appear to be in grades VF
thru EX with condition census beginning at about
uncirculated 55. Previously an MS-60 specimen,
graded by the Professional Coin Grading Services
was thought to be the only known uncirculated
specimen of this date.
"This specimen is also quite distinctive in
that there is a deep reflectivity in the fields with
a corresponding contrast in the devices presenting
this as a true deep prooflike double eagle' Pilitowski
said. Further noted is "how clean the specimen
is with an absolute minimum of abrasions or other
surface imperfections" which in addition to the
overall appearance of the coin given it's deep mirrors,
suggests that special care was used in striking this
coin, which I have not seen in any other example that's
even remotely similar. While not a specimen striking,
the overall quality of the coin cannot be overstated
and is without question the finest known 1859-O Double
Eagle to have appeared" he said.
The coin was purchased from a collector in the Northeast,
and while an exact price paid has not been disclosed,
Mr Pilitowski said that the value was in into the
6 figures range. The coin was purchased by an advanced
collector who wishes to remain anonymous at this time.
What is somewhat of a mystery is where exactly the
coin has originated from. Mr Pilitowski believes that
the coin has not been on the market for perhaps as
long as 20 years although neither the specimen, nor
its pedigree has been traced. Numismatists and other
specialists who would like to help in this endeavor
are invited to call Mr Pilitowski at 1-800-624-1870
or contact him thru his website www.usrarecoininvestments.com
with information leading to tracing this incredible
New Orleans rarities 137 year history.