The 1880-O $10 Eagle Gold Coin is a numismatic treasure from an era when gold coinage was both a functional currency and a testament to the craftsmanship of the United States Mint. Struck at the New Orleans Mint, this coin represents a combination of rarity, artistry, and historical significance. Among the surviving specimens, the second-finest known example of this coin has captured the attention of collectors and historians alike. Its remarkable preservation and scarcity make it a standout piece in the rich tapestry of U.S. coinage.
Background of the 1880-O $10 Eagle
The $10 Eagle, or “Coronet Head Eagle,” was designed by Christian Gobrecht, the third Chief Engraver of the U.S. Mint. This design, introduced in 1838, features Lady Liberty on the obverse wearing a coronet inscribed with the word “LIBERTY,” while the reverse showcases a heraldic eagle clutching arrows and an olive branch.
The 1880-O $10 Eagle was minted during a time when gold coinage was primarily used in business transactions and banking, rather than as a collectible item. The New Orleans Mint, which operated from 1838 to 1909 (with interruptions during the Civil War and Reconstruction), produced 9,200 of these coins in 1880, making it a low-mintage issue. Many of these coins were heavily circulated, and only a small number survived in higher grades, making mint-state examples extraordinarily rare.
The Second-Finest Known Specimen
Among the surviving 1880-O Eagles, the second-finest known specimen stands as a remarkable artifact. Graded Mint State 62 (MS62) by Professional Coin Grading Service (PCGS), this coin exhibits exceptional quality, especially for a coin that is over 140 years old. It trails only a single MS63 coin, which is considered the finest known example of this date and mintmark.
The second-finest 1880-O $10 Eagle displays a beautiful luster and well-preserved details, with sharp strikes on Lady Liberty’s hair and the eagle’s feathers. Its surfaces exhibit minimal contact marks, a rarity for coins from the New Orleans Mint, which often struggled with striking quality due to less advanced equipment compared to the Philadelphia Mint.
Historical and Numismatic Significance
The 1880-O $10 Eagle is a product of the New Orleans Mint, a facility that holds a unique place in U.S. history. Coins from this mint often reflect the economic and political turbulence of the South during the 19th century. The low mintage of this coin adds to its allure, as it was minted in limited quantities during a time when the demand for gold coins was declining.
This specific coin’s survival in such pristine condition is extraordinary, given that most were likely melted down or lost during times of economic uncertainty, including the Great Depression and the end of the gold standard. The MS62 example’s existence offers a rare glimpse into the artistry and resilience of 19th-century U.S. gold coinage.
Why Collectors Prize This Coin
Collectors seek out the 1880-O $10 Eagle not only for its rarity but also for its historical context. The second-finest known example, graded MS62, represents a near-impossible combination of preservation and provenance. Coins of this caliber often command high premiums at auctions, with competitive bidding reflecting their desirability among advanced numismatists.
For collectors of New Orleans Mint coins or $10 Eagles, this coin is a cornerstone piece that embodies the elegance of Christian Gobrecht’s design and the mystique of gold coins from the Deep South.
Conclusion
The second-finest 1880-O $10 Eagle Gold Coin is more than a rare collectible—it is a tangible link to America’s economic and numismatic history. Its outstanding condition, paired with its low mintage and New Orleans origin, make it a prized asset for collectors and historians alike. As one of the finest surviving examples of its kind, this coin continues to inspire awe and admiration, reinforcing the enduring appeal of U.S. gold coinage.
FAQs
1. Why is the 1880-O $10 Eagle Gold Coin so rare?
The 1880-O $10 Eagle has a low mintage of just 9,200 coins. Most were heavily circulated or melted down, making surviving mint-state examples extremely scarce.
2. What makes the second-finest 1880-O Eagle special?
Graded MS62 by PCGS, this coin exhibits exceptional preservation and sharp details, making it the second-finest known example of its type. Its quality sets it apart from most other surviving specimens.
3. Why are New Orleans Mint gold coins significant to collectors?
Coins from the New Orleans Mint reflect the economic history of the South during the 19th century. Their distinctive characteristics and historical context make them highly desirable in the numismatic world.