By Charles Morgan and Hubert Walker for CoinWeek Notes …..
In 1846, when the Crescent City was serving as the headquarters of the United States Army Quartermasters and the staging location for troops to move by ship to Corpus Christi, Texas during the Mexican-American War, the New Orleans Mint struck coins in five denominations. Most of these coins were half dollars, but 62,000 1846-O Liberty Head Quarter Eagles were minted, many of which come weakly struck with soft hair detail and flatness on the eagle’s right leg.
| New Orleans Mint Coin Production in 1846 | |||
| 1846-O Liberty Seated Half Dollar | 2,304,000 | ||
| 1846-O Liberty Seated Dollar | 59,000 | ||
| 1846-O Liberty Head Quarter Eagle | 62,000 | ||
| 1846-O Liberty Head Half Eagle | 16,500 | ||
| 1846-O Liberty Head Eagle | 81,780 | ||
Gold coin specialist Doug Winter documents three die marriages for the 1846-O Liberty Head Quarter Eagle. All share the same obverse die.
Variety 1: Mintmark touches the claw and the tip of the arrow fletching and is positioned above fraction bar.
Variety 2: Mintmark touches and is centered over the top of the fraction bar. Scarcest.
Variety 3: Mintmark is positioned slightly to the left of the upper tip of the fraction bar and is laid over the arrow fletching, not touching the claw.
The certified population of 1846-O Liberty Head Quarter Eagles was 541 coins as of August 10, 2024. More than 120 of these are “cup of coffee” AU58 sliders that show minimal wear and some luster, occasionally with some degree of collector mishandling. Fifty-three grading events are reported in Mint State, mostly at MS61, a popular “net grade” that collectors should avoid without professional representation.
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Market Data and Noteworthy Specimens
Top Population: PCGS MS65 (1, 8/2024), NGC MS63+ (1, 8/2024), and CAC MS65 (1:0 stickered:holdered, 8/2024).
- PCGS MS65 #85120721: James Kelly, April 1957, Lot 731; “John Jay Pittman Collection,” David W. Akers, May 1998, Lot 1754 – $132,000; Stellar; Del Loy Hansen. Imaged at PCGS CoinFacts. Variety 1.
- PCGS MS64: Ed Shapiro to Harry W. Bass, Jr., December 16, 1971; “The Harry W. Bass, Jr. Collection, Part II,” Bowers and Merena, October 1999, Lot 389 – $27,025; Heritage Auctions, March 21, 2003, Lot 6197 – $21,850. Doug Winter Numismatics; Kansas Collector. Variety 1. Rim hit near 12 o’clock. Two diagonal marks in the field just above star 1. Thin hairline between stars 7 and 8. Tick between stars 10 and 11. ERTY weak.
- PCGS MS63 #47725203: As NGC MS64 #2030779-008. Bowers and Merena, August 2009, Lot 4337; Heritage Auctions, October 2011, Lot 4661; Heritage Auctions, August 24, 2022, Lot 4014 – $20,400. As NGC MS64 #6329481-009. Heritage Auctions, August 15 2023, Lot 3154 – $18,600. Variety 2. RARCOA green label. As PCGS MS63 #47725203. Crossed to PCGS, where the coin downgraded by one point. Imaged on PCGS CoinFacts. Hit to the left of ear. Curved mark between stars 2 and 3. Another tick in the left obverse field between stars 3 and 4. Hair, ERTY, eagle, and shield weakly struck.
- NGC MS63+ CAC #3319451-004: Legend Rare Coin Auctions, November 15, 2018, Lot 292 – $18,800. Variety 1.
- PCGS MS63 CAC #36482372: Legend Rare Coin Auctions, March 21, 2019, Lot 391 – $19,975. Variety 1.
- NGC MS63 #911589-005: “The Soluna Collection,” Heritage Auctions, January 5, 2017, Lot 5807 – $12,925. Variety 3. Two thin hairline scratches at jawline. Upward diagonal hairline on chin.
- PCGS MS63 #50074793: Heritage Auctions, January 7, 2004, Lot 2157 – $17,250.
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1846-O Liberty Head Quarter Eagle Coin Specifications
| Country: | United States of America |
| Year of Issue: | 1846 |
| Denomination: | Two Dollars and Fifty Cents (USD) |
| Mintmark: | O (New Orleans) |
| Mintage: | 62,000 |
| Alloy: | .900 Gold, .100 Copper |
| Weight: | 4.18 g |
| Diameter: | 18.00 mm |
| Edge: | Reeded |
| OBV Designer: | Christian Gobrecht |
| REV Designer: | Christian Gobrecht |
| Quality: | Business Strike |
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