GreatCollections is proud to auction a newly discovered Mint State 1842-O 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."

To read the complete article, see:GreatCollections to Auction 1842-O $10 Gold Eagle, Among Finest Known(www.coinnews.net/author/great-collections/)