The second of only four New Orleans Mint issues in the Seated dollar series of 1840-1873, the 1850-O is also the rarest in all grades. Despite the onset of the California Gold Rush the previous year and the consequent rise in silver prices, some bullion was deposited in the New Orleans Mint in 1850 for silver dollar coinage. Even so, the amount was minimal, and only 40,000 examples were delivered that year. Unlike in the North, where most 1850s Seated dollar issues were exported and/or melted, many examples of the 1850-O saw widespread circulation throughout the antebellum South. Other pieces were undoubtedly melted, the combined effect being the loss of much of the original mintage.

An important find even in problem-free XF and AU grades, the 1850-O is a major condition rarity in Mint State. A contender for Condition Census standing, this Uncirculated example is richly toned over the obverse, the reverse is much lighter (nearly brilliant) with just a hint of peripheral toning. The obverse is more vivid with splashes of crimson-orange and turquoise-blue iridescence to a base of lavender-gray toning. The strike is suitably sharp by the standards of the type, and there are no individually distracting abrasions to report. A rarity par excellence from a very challenging silver dollar series. NGC Census: just 4 in 62, with a mere four finer (MS64 finest for the issue). (PCGS 6938)