1856-O $5 Liberty Head Half Eagle PCGS AU58 - Condition Rarity!

Here's a fantastic piece from the historic New Orleans Mint. With its mintage of only 10,000, the 1856-O $5 gold piece is a great rarity. And now the specialist has an opportunity to fetch one in one of the highest grades possible.

PCGS has graded 9 pieces as AU58, with only 3 finer (1 in MS60 and 2 in MS61). NGC has given the grade of AU58 to only 5 examples with 4 finer (1 in MS60, 2 in MS61, and 1 in MS62). Therefore, the piece offered by AUCM is a Condition Rarity and greatly desired by enthusiasts of New Orleans Mint issues.

Gold specialist Doug Winter provides valuable information on the coin being offered by AUCM:

The 1856-O is tied with the 1892-O for the lowest mintage figure of any New Orleans half eagle. This date is comparable in overall rarity to the 1855-O and it is very similar in overall and high grade rarity to the 1857-O.

The 1856-O half eagle is scarce in all grades. When available, it generally grades VF to EF. Properly graded AU50 to AU53 examples are very scarce and AU55 to AU58 coins are very rare. There are only five or six known in Uncirculated with none of these grading higher than MS62.

This is a better struck issue than either the 1855-O or the 1857-O. The obverse has a sharp center with little weakness noted on the curls around the face. The stars are sometimes flat with the ones on the left (especially the first through the third) less sharp than the ones on the right. The reverse is usually sharp with the exception of the eagle’s neck feathers which may be weak. I have seen some 1856-O half eagles that displayed weakness on the top of the eagle’s head and on the mintmark.