1856-O Liberty double eagle sells for $365,000

An AU55-graded 1856-O Liberty double eagle realised $364,250 at Heritage Auctions on June 8-12.

The lot is one of around 23 surviving examples of the coin and is among the top five finest known.

1865 Orleans eagle
Only 23 specimens of the 1865-O double eagle are recorded

It last sold for $5,250 in a 1971 auction, meaning it has achieved strong growth of 9.8% per annum over the past 45 years.

The coin was minted in New Orleans and most were heavily circulated.

Heritage explains: "The recorded mintage of 2,250 pieces is the smallest production total of the series…

"None were saved by contemporary collectors, as there was no numismatic interest in mintmarks or large denomination gold coins at the time.

"As a result, the survival rate was low and most of the coins we know about today are in XF-AU grades."

The record for this issue is $1.4m, set for the finest known specimen at Heritage in 2009.

An 1895-O silver dollar realised $258,500.

With a grade of MS65+, it's tied for the finest known example of the issue.  

It's also the third rarest mint state coin in the Morgan dollar series, a factor that further enhances its desirability among collectors.

The sale took place in New York, against the backdrop of this year's Long Beach Expo.

Love numismatics? You can take a look at our incredible range of world coins for sale here.

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