1848-O Liberty Head Eagle. Winter-1. MS-60 (PCGS). CAC.

Original orange-honey surfaces are enhanced by soft, frosty mint luster. The strike is a bit light overall, typical of the issue, yet acceptable enough for an 1840s gold coin from the New Orleans Mint. Fully Mint State and originally preserved, it is easy to see why this premium coin is among the finest 1848-O eagles extant. The New Orleans Mint opened for business in 1838 and over the next decade became vital to the United States coin supply, producing a variety of silver and gold denominations, although not necessarily all denominations in every year. In 1848 the New Orleans Mint struck only half dimes, half dollars, and $10 gold eagles. Production was fairly moderate for the half dimes and strong for half dollars, but the gold eagle mintage was quite small, only 35,850 pieces. Southern gold coins of the Antebellum era tended to enter circulation and remain there until the Civil War drove them into hoards to await better days. The 1848-O eagle usually has a weak obverse strike often with poor definition on the high points of Liberty's hair and a peculiar slightly sunken in look that sometimes lends itself to a less than average eye appeal. There are three varieties known. Winter-1, as represented here, is identified by the noticeable punchmark on the third and fourth horizontal lines at the top of the shield and a grouping of die file marks above the eagle's right shoulder. The 1848-O is most available in circulated grades, primarily in EF or AU, and has even been seen in grades as low as Fine, a genuinely scarce if underwhelming grade for gold. The Fairmont coin represents condition rarity at the PCGS-certified, CAC-approved Mint State level. It is one of just eight Mint State examples estimated to survive by PCGS CoinFacts, corroborating Winter's estimate of eight to 10 Uncirculated coins. An important piece that will soon be the centerpiece of another fine cabinet.

PCGS# 8600. NGC ID: 2634.

PCGS Population: 2; 11 finer (MS-66 finest).

From the Fairmont Collection-Hendricks Set.

Estimate: $ 12000