Given the low mintage, one might expect the dies to be hardly broken-in and capable of producing fine quality coinage, but such was not the case, at least not in practice. The 1856-D is notorious for very poor production quality, among the worst of all U.S. series, and nearly every coin left the dies bearing the equivalent of Fine to VF details. One would be hard-pressed to find more consistently miserable Federal mint production in the era following the advent of steam powered machinery.

In spite of all the well deserved condemnation for mediocre production quality, this example is actually reasonably proficient in terms of detail on the obverse. Sharpness is on par with what would be the "extremely fine" level were this a Philadelphia coin, and that is actually a compliment for almost any 1856-D. The fields unveil definite luster in the margins beyond the stars, and even the reverse exhibits a little cartwheel effect. Here, the eagle's outer wing definition is delicately presented, but nearer the shield, sharpness practically disappears. Even the shield lines themselves are sparse.

All that being said, the grade is supported by the level of remaining luster, as has been discussed, and contrary to mottled pieces, this coin displays neither stain nor copper spots. Not a single large contact mark can be found on either side, and to the extent allowed by the slab insert, close inspection finds no evidence of rim dings. Current PCGS population reports show a paltry three examples at the AU-55 level, and only 7 graded higher, and incidentally, NGC statistics are essentially identical at 3/8, and one knows there are regrades included in those numbers somewhere. This is without doubt one of the most desirable coins in today's sale. (PCGS# 007779)