LIBERTY
HEAD (NO MOTTO ON REVERSE) TWENTY DOLLARS OR DOUBLE EAGLE
(1849-1866)
1861-O Double Eagle
1861-O
Double Eagle
PCGS No:
8934
Mintage:
Circulation
strikes:
17,741
Proofs:
none
Designer:
James Barton
Longacre
Diameter:
±34
millimeters
Metal content:
Gold - 90%
Other - 10%
Weight:
±516
grains (±33.4 grams)
Edge:
Reeded
Mintmark:
"O"
(for New Orleans, Louisiana) below the eagle's tail
on the reverse.
Introduction:
New Orleans coinages were limited, especially after
1853. Most of the final date. 1861-O was made under
the Confederacy. As the same dies were used before and
after the rebels seized the branch mint, it is impossible
to tell with certainty whether any given coin was made
under the Union or the rebels. But as the Union made
only [5,000] out of [17,741], the chances are 71% (or
7 to 3 odds) that your specimen left the press while
rebel flags flew over the building.
Auction Appearances
and Collateral Evidence:
The 1861-O double eagle is very rare and one of the
more historically interesting Type 1 double eagles.
The issue was struck by three different governmental
authorities. It has been estimated that the federal
government struck 5,000 coins, the state of Louisiana
9,750 coins, and the Confederacy 2,991 coins. Unfortunately,
it cannot be determined with certainty which mint struck
which coins. There are probably fewer than 200 coins
known in all grades, most of which are Very Fine or
Extremely Fine. High-grade examples are very rare and
desirable. Most display partially prooflike surfaces.
The finest known example, which resides in the collection
of the Smithsonian, is an amazing AU-53 coin with prooflike
surfaces.
Number of Appearances:
94 (21%)
Auction Records:
(1) Unc: Miles 1968
(9) AU: Auction' 81; New England
11/80, 11/79; Paramount 11/74; ANA 1974; ANA 1972;
Kreisberg/Cohen 6/69; Stack's 12/67; Atwater 1946
(40) EF: Stack's 9/81; Pullen &
Hanks 5/81; Stack's 3/81; Hughes 1/81; ANA 1980; Auction
'80; Hughes 1/80, 10/79; Stack's 6/79 (2), 2/79, 6/77;
Paramount 4/77; Stack's 4/76; AAA 6/75; Stack's 4/30/75;
RARCOA 4/75; Pine Tree 2/75; Superior 10/74; Pine
Tree 9/73; Stack's 5/73; Paramount 5/73; Stack's 2/73;
Gilhousen 1973; Kreisberg Cohen 9/71; ANA 1971; Superior
3/71; Paramount 2/71; Alto 1970; Stack's 6/70, 3/69,
5/68; Kosoff 10/65; Walton 1963; Bell 1963; Golden
1962; Lee 1947; Bell 1944; Roach 1944; Dunham 1941
(44) VF: Stack's 3/81;
New England 1/81, 4/80; Stack's 9/79; Ivy 2/79; ANA
1978; RARCOA 8/78; New England 11/75; Pine Tree 6/75;
AAA 11/74; Ullmer 1974; Pine Tree 3/74; Kreisberg/Cohen
11/72; ANA 1972; Stack's 4/71; Kreisberg/ Cohen 11/70;
Paramount 9/70; Kreisberg/Cohen 6/ 70; Paramount 2/70;
Stack's 1/70; ANA 1968; Shuford 1968; Stack's 3/68,
4/67; Paramount 2/67, 10/66, 5/66, 3/66; ANA 1965;
Paramount 2/65; ANA 1963; FUN 1963; Golden 1963; Wolfson
1962; Cicero 1960; Holmes 1960; ANA 1956; Melish 1956;
Farouk 1954; Menjou 1950; MC 1948 (3); WGC 1946
Comments: The 1861-O is the last
Double Eagle issue from the New Orleans Mint until
1879. Coins were struck both before and after the
Confederacy took control of the Mint but it is impossible
to state with absolute certainty which coins were
struck by the Federal Government and which were struck
by the Confederacy. The 186I-O is rare but obviously
not nearly as rare as the 1856-O, 1854-O, 1855-O or
1860-O. It is closest in overall rarity to the 1857-O
and 1858-O {a bit less rare than either) and it is
decidedly rarer than the 1850-1853 O-Mint issues.
The 1861-Ois very rare in AU and virtually all the
known specimens grade only VF or EF. I have not personally
seen a strictly uncirculated specimen; the best I've
encountered was a choice AU-55 and I've seen three
in that grade. In my 443 catalogue survey, only the
Miles specimen was called uncirculated and there was
also a specimen graded uncirculated in Stack's 1946
Deetz Sale. Whether or not the Miles or Deetz coins
were really Unc. I cannot say since I have not seen
them. Most 1861-O Double Eagles are partially or fully
prooflike and quite well struck although the bottom
part of 186 in the date is usually weak from die wear.
