Circulation Strike Mintage 141,000
First year of issue. Scarce in all grades. Incredibly rare in Mint State.
Key to Collecting:
The 1850-O Double Eagle is fairly scarce in the context of general American numismatics, but enough exist that examples appear on the market with regularity. Of the first three dates of New Orleans coins of this denomination, the 1850-O is the scarcest. As the first year of the Double Eagle and, accordingly, the first New Orleans issue, this variety is always in strong demand. Most specimens are in the VF grade range, and, indeed, this has been about par for even the greatest collections. EF coins are scarce, and AU pieces are especially so. In recent times some other 1850-O twenties have been called Uncirculated, perhaps pieces that have "graduated" from the AU level, or perhaps new discoveries-who know? In any event, no choice or gem pieces are known.
1850-O . Market Values . Circulation Strikes
VF-20
EF-40
EF-45
AU-50
AU-53
AU-55
AU-58
MS-60
MS-61
MS-62
MS-63
MS-64
MS-65
MS-66
MS-67
MS-68
MS-69
$800
$1,300
$2,750
$6,000
$7,500
$9,000
$14,000
$30,000
$35,000
$65,000
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Highest Auction Price Realized Since 1994
Firm
Sale
Lot Number
Date
Amount
Grade
Sotheby's/Stack's
Dallas Bank Collection (Browning)
2
Oct-01
$40,250
MS
Availability (Certified and Field Populations)
VF-20
EF-40
EF-45
AU-50
AU-53
AU-55
AU-58
MS-60
MS-61
MS-62
MS-63
MS-64
MS-65
MS-66
MS-67
MS-68
MS-69
Cert. Pop
88
63
77
44
64
36
8
2
1
1
0
0
0
0
0
0
0
Field Pop.
200 to 300
2 to 4
Aspects of Striking:
High grade pieces are usually partially prooflike, sometimes nearly fully prooflike. How magnificent a specimen this must have appeared when first minted! Some show light striking at the centers, this being evident on the higher areas of the curls below the coronet. The stars and/or date are sometimes weak from striking and/or relapping of the die.
Die Data:
Standard four digit logotype punch for this year. 2 pairs of dies were shipped to New Orleans for this coinage. Reverse varieties have been identified with O minthmark either touching the eagle's tail feathers or separated from them, indicating that both reverse dies were used. Serviceable reverse dies of this and later years, undated, could be held over for use the next year(s). In the machine shop on the premises in New Orleans, working dies were heardened and then often given a mirror like polish, a technique not employed at the Philadelphia Mint at the time nor at the San Francisco Mint later (it opened in 1854).
Selected Citations
R.V. Mathieu and E.B. Townsend Collections (Thomas L. Elder, November 1920) Lot 1600: "1850-O New Orleans Mint. Extremely Fine. Very rare and first offered in years, in these sales a $35 coin."
Gold Rush Treasure from the S.S. Central America (Christie's, catalogued by QDB, December 2000) Lot 77: "1850-O AU50 (PCGS)... Date logotype firmly impressed, 5 'closed,' left edge of lower serif of 1 very close over center of dentil below. Repunched O mintmark high and touching eagle's tail feathers above, and located slightly left of center of the N below."
Realized $5,520.
Dallas Bank Collection (Sotheby's/Stack's, October 2001) Lot 2: "1850-O Brilliant Uncirculated, nearly Choice. Conceivably the finest known example..Neither Akers nor Winter could allude to a single Uncirculated example, as the specimens illustrated in their references are testament. Dannreuther's auction survey of the past decade lists a single Uncirculated coin, but the quality of that piece does not compare to that of the present specimen." Realized $40,250.
