While the San Francisco Mint understandably claimed much of the gold mined in California during the mid to late 1850s, considerable quantities of bullion continued to be shipped to the East Coast. However, the Philadelphia Mint was the preferred destination and little gold found its way to the New Orleans Mint during the latter half of that decade. With the mints focused on double eagle production, it is little wonder that the Louisiana facility produced only 14,500 eagles in 1856. The low mintage and extensive commercial use explain the scarcity of this issue. Even survivors in VF and EF are elusive, while in AU the 1856-O is rare. Mint State examples are the stuff of legend as far as many collectors are concerned, for they are so rare that most numismatists will never even see one, let alone have the opportunity to acquire an example.

The example to the left was sold by Stack's Bowers Galleries in the November 2016 Baltimore Auction, where it realized $47,000.