Saturday, January 19, 2008

$542,000! - Collector strikes sales gold with the flip of a coin - 1856-O $20 Liberty Head Double Eagle

(Photo below is not the coin that was sold, but is the $20 1856-O PCGS AU-55 currently held in The Arlington Collection that I believe is the third finest known)

Buy and sell - For a broker, finding a rarity can pay off big, but it's also a personal thrill

Douglas Winter never outgrew his boyhood fascination with coins. But as a Portland coin broker, his collection has certainly matured. Winter bought a $20 gold piece in November with a buyer in mind and sold it Dec. 27.

The price: $542,000.

The coin was an 1856-O double eagle, one of the most unusual $20 gold pieces and the rarest gold coin from the New Orleans mint. The mint struck just 2,250 of these coins, and only 20 to 30 are known of today, said Winter, who does business from a Pearl District loft as Douglas Winter Numismatics and wrote "Gold Coins of the New Orleans Mint, 1839-1909."

Owning one of these coins, he said, is like an art collector landing a Raphael painting. . . .

Full story at: Link

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