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Finest Known 1859-O Double Eagle Sale
Announced
(Florida)
-- Florida rare coin dealer and gold coin specialist Tom Pilitowski has
announced the purchase and sale of the finest known 1859 double eagle minted in
New Orleans. 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
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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 http://www.usrarecoininvestments.com
with information leading to tracing this incredible New Orleans rarities 137
year history.
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Media Contact:
Tom
Pilitowski at 1-800-624-1870
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| Publication Date: 05/15/2006 |
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