The New Orleans Mint facility struck gold coins from 1838 to 1909 and struck far fewer coins than main Mint in Philadelphia. Today, this makes New Orleans minted gold coins dramatically more rare than their Philadelphia counterparts.
Savvy investors, collectors and dealers understand that there are very few quality New Orleans minted gold coins available on today’s market. However, despite their scarcity, there are several New Orleans minted gold coins that appear to be dramatically undervalued.
One date in particular stands out as a phenomenal value, and that is the 1903-O $10 Gold Liberty.
The New Orleans Mint only struck 112,771 $10 gold coins in
1903. Keep in mind that a common date $10 Gold Liberty can have mintages exceeding 2 million coins.
Today, only about 1% of the $10 gold coins minted at New Orleans in 1903 are known to have survived today. As with many of the gold coins minted in New Orleans, very few of the 1903-O $10 gold coins survived in uncirculated grades.
For the last two years we have been scouring the country looking to purchase quality low-minted $10 gold coins struck at New Orleans for our clients. We have just acquired a small group of 1903-O $10 Gold Liberty coins certified and graded in uncirculated MS 61 grade.
This is a very significant find as only 644 of the 1903-O $10 gold coins known today have been certified in MS61 grade by both NGC and PCGS combined. A common date $10 liberty like the 1894, has over 19,000 coins known in MS61 grade. This means the 1903-O is 30 times rarer than the most common $10 Gold Liberty ever struck.
Such a dramatic difference in rarity would suggest a tremendous difference in price. However, the 1903-O gold in MS 61 grade currently trades for less than double the price of the ultra common 1894.
Coins with this kind of ratio rarely stay undervalued for long.
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