1840-O $2.50 MS (PCGS# 7720)
The November 2010 Baltimore Auction
Auctioneer: Bowers & Merena
Lot Number: 4809
View the Original Auction
This is the rarest of the three-known die marriages of the 1840-O, the issue as a whole being highly desirable as the first New Orleans Mint Quarter Eagle of the Liberty type. Unlike many other first-year issues in U.S. coinage history, the 1840-O Quarter Eagle was not saved in significant numbers by the contemporary public. The result is that this is a very scarce-to-rare issue in today's market, Doug Winter (<em>Gold Coins of the New Orleans Mint: 1839-1909</em>, 2006 edition) allowing for only 100-125 survivors from a mintage of 33,580 pieces. The author ranks the 1840-O third in overall rarity in the O-mint Quarter Eagle series, a position it shares with the 1842-O.<br /> This piece exhibits a typical quality of strike for the Large O die pair, the centers softly impressed but the peripheries considerably sharper. There is only light rub to report, however, and no singularly distracting abrasions. A medium-gold example that would make a significant addition to an advanced cabinet.