Released on = May 14, 2006, 6:10 pm

Press Release Author = US Rare Coin Investments/Tom Pilitowski

Industry = Financial

Press Release Summary = Florida rare coin dealer and gold coin specialist Tom
Pilitowski has announced the purchase and sale of the finest known 1859 double eagle
minted in New Orleans.

Press Release Body = Finest Known 1859-O Double Eagle Sale Announced

Florida rare coin dealer and gold coin specialist Tom Pilitowski has announced the
purchase and sale of the finest known 1859 double eagle minted in New Orleans.

Numismatic Guarantee Corp has assigned the coin a Mint State 61 "Proof like" grade.
Pilitowski said it is just the second known uncirculated specimen and is the finest
certified 59-O by any of the third party grading services.

Given the mintage of only 9100 coins, the 1859-O double eagle has been characterized
as the 4th rarest of the New Orleans double eagles, and it 's no surprise that
these coins are rare and important in all grades. The majority of surviving
specimens appear to be in grades VF thru EX with condition census beginning at about
uncirculated 55. Previously an MS-60 specimen, graded by the Professional Coin
Grading Services was thought to be the only known uncirculated specimen of this
date.

"This specimen is also quite distinctive in that there is a deep reflectivity in
the fields with a corresponding contrast in the devices presenting this as a true
deep prooflike double eagle' Pilitowski said. Further noted is "how clean the
specimen is with an absolute minimum of abrasions or other surface imperfections"
which in addition to the overall appearance of the coin given it's deep mirrors,
suggests that special care was used in striking this coin, which I have not seen in
any other example that's even remotely similar. While not a specimen striking, the
overall quality of the coin cannot be overstated and is without question the finest
known 1859-O Double Eagle to have appeared" he said.

The coin was purchased from a collector in the Northeast, and while an exact price
paid has not been disclosed, Mr Pilitowski said that the value was in into the 6
figures range. The coin was purchased by an advanced collector who wishes to remain
anonymous at this time. What is somewhat of a mystery is where exactly the coin has
originated from. Mr Pilitowski believes that the coin has not been on the market for
perhaps as long as 20 years although neither the specimen, nor its pedigree has been
traced. Numismatists and other specialists who would like to help in this endeavor
are invited to call Mr Pilitowski at 1-800-624-1870 or contact him thru his website
http://www.usrarecoininvestments.com with information leading to tracing this
incredible New Orleans rarities 137 year history.


Web Site = http://www.usrarecoininvestments.com

Contact Details = Tom Pilitowski
US Rare Coin Investments
P.O. Box 496607
Port Charlotte, Fl 33949
1-941-629-4765
http://www.usrarecoininvestments.com