GreatCollections to Auction 1842-O $10 Gold Eagle, Among Finest Known

GreatCollections is proud to auction a newly discovered Mint State 1842-O $10 Gold Eagle, which ranks among the finest known.

The coin was originally purchased in the early 1960s for $225 at Woodward and Lothrop, a major department store in Washington, DC. The original envelope, with the dealer’s handwriting notes "only 27,000 minted" as well as the purchase price will accompany the coin when it is sold by auction on June 26, 2011.

"Out of the estimated survivors, this ranks as one of the finest. PCGS has graded just three examples as Mint State, and this is the lone Mint State currently approved by CAC," said Ian Russell, president of GreatCollections.

Russell continues, "Aside from the phenomenal appearance and quality, what adds interest to the coin is the pedigree back to the early 1960s, where it was purchased at Woodward and Lothrop for the then-pricey sum of $225. This was the jewel in the collection. Relatives of the late owner can remember family stories about this rare $10 piece, without knowing exactly how rare or valuable it was.

"One doesn’t really think of going today to Bloomingdale’s or Macy’s to buy rare coins, though back in the 1960s, select major department stores had a rare coin counter, where collectors could buy and sell coins."

The coin was recently certified by Professional Coin Grading Service (PCGS, a division of NASDAQ: CLCT), as well as approved by CAC. PCGS is one of the leading third-party grading companies for rare coins, while CAC is an independent coin grade verifier.

GreatCollections will be displaying the coin at the Long Beach Coin Expo (Long Beach, California June 2-4, 2011), and also at the Whitman Coin & Collectibles Baltimore Expo, June 16-19, 2011). Clients can also view the coin by appointment at GreatCollections’s Irvine, California office.

Bidding is open now through June 26, 2011. To register or view more information about this or other certified coins, please visit www.greatcollections.com or telephone 1.800.44.COINS.