1856-O $20 PCGS AU-58
Key Date New Orleans Mint Issue |
 The 1856-O double eagle is the rarest gold coin struck at the New Orleans mint, narrowly eclipsing the 1854-O double eagle. There were a total of 2,250 pieces originally struck of which an estimated 20-30 are known today. PCGS has graded a total of eleven coins including four in AU55 and two in AU58.
Double eagles were produced by the New Orleans mint from 1850 through 1861 and again in 1879. A total of thirteen different issues were coined with a total mintage figure of just 831,516. Due to their size, they are extremely popular with collectors and are probably the most sought-after gold coins from New Orleans. Everyone who collects double eagles dreams of owning an 1856-O |
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The status of the 1856-O double eagle as the rarest New Orleans twenty, from a paltry mintage of 2,250 pieces, was established as long ago as the Atwater Sale (B. Max Mehl, 6/1946). In lot 1338 of that celebrated catalog Mehl proclaimed, “1856 Strictly very fine; free from any nicks or dents. The rarest Double-Eagle of the New Orleans Mint. Smallest coinage, that of only 2250. Not in some of the largest collections of U.S. Gold. Not even in the recent Sale of ‘World’s Greatest Collection of U.S. Gold Coins
The reason for the small mintage of New Orleans double eagles from 1854-1856 probably lies in the establishment of the San Francisco Mint, which began operations in 1854. Before that date, large amounts of bullion from the California gold fields were shipped to New Orleans for coinage. When the new facility came online, the flow of gold deposits to the New Orleans Mint was drastically reduced. Regardless, This is a rare opportunity to own one of the Classic US Gold coins. |
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