Mississippi Collection 1856-O $20 Flies to $690,000 in Heritage’s Long Beach U.S. Coins Auction Over $22 Million

Part of The Mississippi Collection of Double Eagles, Part II that produced many of the top results in the auction, an 1856-O Liberty Double Eagle, AU58 PCGS, Winter 1 sold for a record $690,000 to lead the Heritage Auctions February 27-March 2 Long Beach Expo US Coins Signature Auction to over $22 million ($22,246,194).

The result for this magnificent coin raced past the previous record of $576,150 that was set at Heritage Auctions in 2008.

This exceptional coin once was a part of the prestigious collection of Louis E. Eliasberg, Sr. It is the third-finest of the 1856-O, which is a premier rarity in the Liberty Head Double Eagle series, a group that boasts the smallest mintage — 2,250 — of any double eagle from the New Orleans Mint.

“This record is a fitting result for such a magnificent coin coming from such an exceptional collection,” says Greg Rohan, President of Heritage Auctions. “It’s an exceedingly rare coin that understandably drew major interest from serious double eagle collectors on its way to this record result.”

The 1856-O Liberty Double Eagle flew highest, but was hardly the only record setter.

The finest of three known examples of an 1836 Gobrecht Dollar, Judd-63 Restrike, PR63 Cameo PCGS. CAC drew 40 bids on its way to $192,000, surpassing the previous auction record of $149,500 that was set first in 2003 and then matched in 2009 at Heritage. Any Judd-63 is an exceptional rarity, including this beautiful example, which can be traced to 1884.

An 1896-S Liberty Eagle, MS67 PCGS. CAC brought a winning bid of $156,000, smashing the previous auction record of $31,200 that was set at Heritage in 2021. This is the finest certified example of this elusive rarity by two full grading points.

Also setting a new record at $156,000 was the finest of just six known examples of an 1841 Seated Dollar, PR64 PCGS CAC. Further elevating the demand is the fact that of the six examples, not all have been available to the collecting community; one is impounded in the Smithsonian’s National Numismatic Collection, and another is a recently discovered impaired Proof, meaning the coin offered here is one of just four confirmed non-impaired Proofs available to collectors.

Like the top lot in the auction, an 1850-O Double Eagle, MS61 PCGS. CAC. Winter 1 came from the Mississippi Collection of Double Eagles to achieve a record result when it sold for $132,000, eclipsing the record of $111,625 that was set in 2014 at Heritage Auctions. This example is one of just two awarded a Mint State grade by PCGS out of more than 320 it has certified in all grades.

In all, 16 lots in the auction brought more than $100,000 — a list that included:

• Eighty-six bids poured in for one of the highest-graded examples of an 1870-CC Liberty Double Eagle, AU53 NGC. Winter 1-A before it ended at $588,000. The 1870-CC is a classic rarity in the Liberty Double Eagle series, from the first year of coinage operations at the famous Carson City Mint. It has the lowest mintage — 3,789 — in the Carson City series, and estimates of the surviving population range from 40 to 65.
• A magnificent example of a coin of virtually unsurpassed historical, economic and social importance, an 1851 Humbert Fifty Dollar, Lettered Edge, 887 Thous., 50 Reverse, MS62+ PCGS drew a winning bid of $456,000. Once a part of the Bob R. Simpson Collection, Part III, this example stands as one of the finest known representatives of this storied issue.

• From the Ron L. Cates Collection, an extraordinary 1870-CC Double Eagle, XF40 PCGS. Winter 1-A, brought $348,000. The 1870-CC is one of the most famous issues that originated at the historic Carson City branch mint, and is coveted by collectors. One of just 10 examples carrying a PCGS grade of 40, this beauty sparked 107 bids before landing in a new collection.
• One of the unquestioned treasures in the auction was a 58.77-ounce Kellogg & Humbert Gold Ingot from SS Central America that reached $186,000. It comes from one of the most respected private assayers of the California Gold Rush, a firm that produced gold coinage alongside the early operations of the San Francisco Mint. Gold bars produced by the Kellogg & Humbert firm eventually were absorbed into various mints and melted down for sovereign coinage, but a large number of bars survived via the Central America shipwreck, including this stunner.
• A 1921 Saint-Gaudens Double Eagle, MS62+ NGC climbed to $144,000. Demand for gold coinage diminished when foreign trade was limited during World War I, so the Mint stopped striking gold coinage between 1916 and 1920. Large denomination coins were still convenient for settling large accounts in foreign trade, however, and the government was required to back its paper currency with a substantial gold reserve. The 1921 Saint-Gaudens Double Eagle is a sought-after rarity in the popular series today. Numismatist Roger Burdette estimates no more than 175 examples survive in all grades, and high-quality specimens are especially elusive. David Akers called the 1921 the premier condition rarity of the Saint-Gaudens Double Eagle series.

Complete results from the Mississippi Collection and more can be found at Heritage’s website HA.com/1381.

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