Finest Known New Orleans Gold Double Eagle Sale Announced

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.

(PRWEB) May 16, 2006 -- 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 services.

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

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 through 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 through his website http://www.usrarecoininvestments.com with information leading to tracing this incredible New Orleans rarities 137 year history.

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