The 1851-O/O Half Eagle
Boosibri
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The 1851-O $5 is a scarce coin in any condition and along with many of the other New Orleans half eagles from the 1840's and 1850's, has an extant population of around 100 in all grades.
There are three die varieties of the 1851-O, the very rare type 3 die variety (1851-O/O) is by far the most interesting and has a distinctly repunched date and mintmark. The "1" in the date was originally punched too high while the mintmark was punched to low and to the right. The variety was first documented, like any other gold varieties, by Harry Bass. His collection contained a surprising three examples of this rare variety, two plated AU's and an unplated EF45 (which is likely the P50 CAC pictured below).
I have studied this date and variety, have searched my fairly large library and all internet archives only to find a total of six sales with 4-5 examples uniquely identified. The three in Harry Bass, a reappearance of a Bass 58 via Doug Winter, my coin which is likely ex. Bass, and a cleaned VF via Heritage. It is likely that there are no more than 10 examples of this variety out of the roughly 100 total 1851-O's extant.
In other half eagle series, particularly Dahlonega, similar doubled mintmarks represent distinct issues within the series. The 1846-D/D features a dramatic doubled mintmark, and the rare 1848-D/D has a doubled mintmark similar in appearance to the 1851-O/O. Both Dahlonega issues are recognized by NGC and PCGS and have been for years. With the popularity of New Orleans Half Eagles set to rise as rarity continues to be appreciated, and Doug Winter's upcoming book brings added attention, does the 1851-O/O have a place as a separate issue within the series?
How would one go about lobbying for inclusion of this variety as a major variety and worthy of inclusion as a separate issue in the series on par with the 46-D/D and 48-D/D?
There are three die varieties of the 1851-O, the very rare type 3 die variety (1851-O/O) is by far the most interesting and has a distinctly repunched date and mintmark. The "1" in the date was originally punched too high while the mintmark was punched to low and to the right. The variety was first documented, like any other gold varieties, by Harry Bass. His collection contained a surprising three examples of this rare variety, two plated AU's and an unplated EF45 (which is likely the P50 CAC pictured below).
I have studied this date and variety, have searched my fairly large library and all internet archives only to find a total of six sales with 4-5 examples uniquely identified. The three in Harry Bass, a reappearance of a Bass 58 via Doug Winter, my coin which is likely ex. Bass, and a cleaned VF via Heritage. It is likely that there are no more than 10 examples of this variety out of the roughly 100 total 1851-O's extant.
In other half eagle series, particularly Dahlonega, similar doubled mintmarks represent distinct issues within the series. The 1846-D/D features a dramatic doubled mintmark, and the rare 1848-D/D has a doubled mintmark similar in appearance to the 1851-O/O. Both Dahlonega issues are recognized by NGC and PCGS and have been for years. With the popularity of New Orleans Half Eagles set to rise as rarity continues to be appreciated, and Doug Winter's upcoming book brings added attention, does the 1851-O/O have a place as a separate issue within the series?
How would one go about lobbying for inclusion of this variety as a major variety and worthy of inclusion as a separate issue in the series on par with the 46-D/D and 48-D/D?
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Comments
What has Doug said about this issue?
Nice looking coin.
What has Doug said about this issue?
We talked about including it in his new book when ready
Latin American Collection
But to answer what I think is your original question "Should PCGS and NGC recognize the 1851 O/O"...personally I would vote no...but I will never be given a vote so I guess it doesn't matter...LOL...
I am not a fan of these double mintmark die varieties at all...as a modest collector...to me they are just more empty holes in the folder...and if there are less than 10 of them...that makes it a fairly elitist proposition...wondering if you would feel differently if you didn't own one...just my two cents...
Jon
Brian -- I really enjoyed reading your post and really appreciate your scholarly research into the hobby...
But to answer what I think is your original question "Should PCGS and NGC recognize the 1851 O/O"...personally I would vote no...but I will never be given a vote so I guess it doesn't matter...LOL...
I am not a fan of these double mintmark die varieties at all...as a modest collector...to me they are just more empty holes in the folder...and if there are less than 10 of them...that makes it a fairly elitist proposition...wondering if you would feel differently if you didn't own one...just my two cents...
Jon
Well... I think it is no more rare than the 1848-D/D and I cannot see the rationale other than the interest in the series which prevents the 1851-O/O from being treated similarly to the 48-D/D.
Today this issue receives basically no premium though I paid up for this coin. So while it may be very rare, it isn't inaccessible to a collector who was interested in acquiring an example due to price, finding one is another story.
Latin American Collection
Well... I think it is no more rare than the 1848-D/D and I cannot see the rationale other than the interest in the series which prevents the 1851-O/O from being treated similarly to the 48-D/D.
Today this issue receives basically no premium though I paid up for this coin. So while it may be very rare, it isn't inaccessible to a collector who was interested in acquiring an example due to price, finding one is another story.
If asked, I would NOT have supported the 1848-D/D either...LOL...
very nice coin!
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The 1851-O/O Half Eagle
Should PCGS and NGC recognize it?
[...]
How would one go about lobbying for inclusion of this variety as a major variety and worthy of inclusion as a separate issue in the series on par with the 46-D/D and 48-D/D?
The 46-D/D and 48-D/D are in the Red Book and the TPGs rely on the Red Book so getting the 51-O/O into the Red Book may help.
Latin American Collection
It is a minor variety, requiring magnification, of an already scarce coin that has a limited collector base. It is interesting, but not worth including as a separate issue, IMO. For the record, I do not believe the 48-D/D deserves recognition as a separate issue either.