I Completed My Dahlonega $3 Gold Set Today
FatMan
Posts: 8,977 ✭
Here's the entire finished set.
Note: the blurred area above the Mint Mark is a scuff on the slab.
Brought this home from the Chattanooga Show today. Filled the big hole in my Dahlonega Type Set thanks to fellow board member Dahlonega, and Al Adams of Gold Rush Gallery. Had no idea I'd be doing the big one today but my friend Dahlonega once again surprised me. Upon walking up to the Gold Rush table he said he had something big for me and pulled this out of the case with a hold sticker on the slab. He said I could remove the sticker as it was being held for me. I must admit, I didn't really know if I would ever pull the trigger for a coin this big, but after gaining my composure I said what the heck. It is as perfect a match for my type set I would likely see for a long time and who knows what these will cost in the years to come.
Also enjoyed a wonderful lunch with Frank the Pug and Tassa. Two of the finest and nicest people I know.
PS. - I never thought I had a coin budget before, but my wife informed me tonight that I do. I guess I won't see any new coins in my collection anytime soon
Note: the blurred area above the Mint Mark is a scuff on the slab.
Brought this home from the Chattanooga Show today. Filled the big hole in my Dahlonega Type Set thanks to fellow board member Dahlonega, and Al Adams of Gold Rush Gallery. Had no idea I'd be doing the big one today but my friend Dahlonega once again surprised me. Upon walking up to the Gold Rush table he said he had something big for me and pulled this out of the case with a hold sticker on the slab. He said I could remove the sticker as it was being held for me. I must admit, I didn't really know if I would ever pull the trigger for a coin this big, but after gaining my composure I said what the heck. It is as perfect a match for my type set I would likely see for a long time and who knows what these will cost in the years to come.
Also enjoyed a wonderful lunch with Frank the Pug and Tassa. Two of the finest and nicest people I know.
PS. - I never thought I had a coin budget before, but my wife informed me tonight that I do. I guess I won't see any new coins in my collection anytime soon
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Comments
I likey! I'm still working on 2 circ gold sets for my Dansco Type Set -- gold page.
TPN
Dan
Congratulations!
A real accomplishment.
I hope to own one of those $3's someday.
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coinaddict, he did post the whole set - there's only one Dahlonega $3.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
and it ain't cheap.
Capped Bust Half Series
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WTG!
I've owned one $3 piece ever, and it's on my hat. I use it to frighten away small children.
Despite having lived a good chunk of my life in GA and NC, I have never owned a Dahlonega or Charlotte coin- even holed.
One day I'll perhaps find a nice holey D or C mint gold dollar or quarter-eagle for my hat.
"Live long and prosper"
My "How I Started" columns
<< <i>Wow, that's a great coin you have there, FatMan. There's a coin you don't see every day. Wonder how many of the tiny mintage is still extant. Out of curiousity, how many of those did you even run across while working on your Dahlonega set? >>
Kranky, Doug Winter writes in his book that there are 100-125 extant out of the original 1120 mintage. I've probably seen 3 or 4 problem free threes in person in the past three years. There have probably been a dozen or so at auction during the same time period.
Very nice
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Tom
Coin's for sale/trade.
Tom Pilitowski
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Tom
littlejohn
That's really a great coin. Not just nice- It's GREAT!
Great transactions with oih82w8, JasonGaming, Moose1913.
<< <i>Doug Winter writes in his book that there are 100-125 extant out of the original 1120 mintage. >>
According to the PCGS POP, they graded 123 of them!
Great transactions with oih82w8, JasonGaming, Moose1913.
Actually, I see you mention it is in a slab. Which TPG Co. and what grade is assigned?
<< <i>That's great. Will PCGS slab it or will it have to go the ANACS route with a net grade? Either way, you win.
I believe this is closer to a 35. I have already left the instruction with my coin notes to my wife in case I should die to have it regraded prior to selling.
<< <i>According to the PCGS POP, they graded 123 of them!
Yes, a classic example of how worthless the pops are. More like 30 coins submitted four times each.
This one is new to the pops. It was part of a raw collection held by a Dahlonega resident for several decades. The collector would buy the D-mint coins that would crawl out of the local wordwork so this jewel very likely never left Dahlonega Area until I moved it today 60 miles down the road.
I never thought I had a coin budget before, but my wife informed me tonight that I do. I guess I won't see any new coins in my collection anytime soon
Budget, Schmudget! Ha-rumph!
Boy do I have a deal for you.
See post "what can you tell me about this coin. (don't read the replys)
I'll sell it to you for ummmmm, $25.00
Just kidding!!!!!!
(Priest) BLASPHEMY he said it again, did you hear him?
<< <i>Sometimes you just have to bite the bullet
Dan >>
Heck I thought all serious coin collectors sleep on the couch.
Congrats on an outstanding accomplishment !
Herb
Ken
<< <i>I believe this is closer to a 35. >>
I was thinking 30/35 myself.
Great transactions with oih82w8, JasonGaming, Moose1913.
Jade Rare Coin eBay Listings
to justify an example from Dahlonega for my general set, let alone
the $3 gold. My sister lives in Dahlonega, so my wife relented.
The 1854-D Three Dollar Gold Piece
Copyright © Doug Winter January 2004
In my opinion, the 1854-D is to Three Dollar gold pieces as the 1907 High Relief is to St. Gaudens double eagles. It is an issue whose rarity has been overstated but whose level of demand is always destined to be very high. Because of its extreme popularity, the 1854-D is probably the single most in-demand coin from Dahlonega and I personally love to buy and sell these pieces.
The 1854-D Three Dollar gold piece has a number of factors that make it a very high demand issue. It is the only date of this denomination from Dahlonega and it has an original mintage figure of just 1,120. It has the lowest mintage figure of any branch mint Three Dollar gold piece (except, of course, the excessively rare 1870-S) and only one Dahlonega coin, the 1856-D quarter eagle, has a lower overall mintage figure.
Given the usual survival rate for Dahlonega coinage of this era, one would expect there to be only two to three percent of the original mintage figure (or twenty-five to thirty-five pieces) to exist. Surprisingly, as many as 100-125 1854-D Three Dollar gold pieces are known; a rather amazing percentage of the original mintage figure. Why do so many exist? I would suggest that either a number were saved as souvenirs or a significant hoard was known at one time. Given the fact that most 1854-D Three Dollar gold pieces show a decent amount of circulation, I doubt whether a hoard was ever known.
Of the 100-125 that exist, I believe that two to four are Uncirculated, twenty-two to twenty-seven are About Uncirculated, twenty-nine to forty are Extremely Fine and the remainder are Very Fine or below (this figure includes a number that are damaged and/or repaired). My in-grade rarity estimates are far different than the figures which can be gleaned from the PCGS and NGC population figures. The reasons for this are that, in my opinion, many 1854-D Three Dollar gold pieces slabbed by both services are overgraded. In addition, the value spread between one adjectival level and the next (i.e. Extremely Fine versus About Uncirculated) are great enough that many have been repeatedly submitted.
There are a number of mint-made features that make the appearance of this coin extremely recognizable. Inserted below is a picture of a very nice 1854-D Three Dollar gold piece (graded AU-58 by NGC) which I recently bought and then sold to a collector. Take a careful look at both the obverse and the reverse and then read the following paragraphs.
One of the features that makes the 1854-D Three Dollar gold piece so easily recognizable is its quality of strike. By looking at the obverse of a few examples, it is possible to determine an 1854-D without even turning it over to see its mintmark.
The U in UNITED is always weak while the TED is very heavy and shows doubling. The denticles on nearly every piece known are non-existent from 7:00 to 3:00 on the obverse and all of the reverse except from 3:00 to 8:00. The obverse and reverse rim areas at the top are very flat in appearance and serve as strong contrast to the better detail seen in the middle.
A few other diagnostic features are seen on all known examples. There is always a bold clashmark on the obverse at the throat of Liberty and another behind the headdress. On the reverse, there are clashmarks in the wreath as well as separation of the bow knot at the right and the leaf at the left as a result of overzealous polishing of the dies. Any 1854-D Three Dollar gold piece that lacks these diagnostics is highly suspect and is probably not genuine.
This issue is usually found in the Extremely Fine-40 to About Uncirculated-50 range and tends to show noticeable abrasions on the surfaces. Most have been cleaned at one time and any 1854-D Three Dollar gold piece with original surfaces and color (as on the piece illustrated above) is very rare and worth a strong premium over the typical piece.
If you are offered an uncertified example, I would strongly recommend that it be sent to PCGS or NGC as many 1854-D Three Dollar gold pieces have been repaired. Most often, pieces have been rim filed or re-engraved on the edges. I have seen at least ten (if not more) that have shown this damage and some are repaired quite expertly and may fool the beginning collector.
The 1854-D has never been an affordable coin but prices have climbed quite a bit in the last few years. A few years ago, a collector could expect to locate a very respectable example for $10,000-12,500 with some patience. Today, it is very hard to find one for less than $20,000 that is not a "dog." Although some dealers (and collectors) now feel that this issue is overvalued, I do not. The simple reason for this is the strong demand for nice pieces versus the reasonably limited supply. Numismatics Economics 101 says that if demand exceeds supply, then prices will rise. This has clearly been the case with the 1854-D Three Dollar gold piece.
Listed below is the current Condition Census for the 1854-D Three Dollar gold piece. Note the extremely strong price realized by the PCGS MS-61 example in the recent Heritage January 2004 sale of the Green Pond collection; a new auction record for his date.
1. Harry W. Bass foundation. Mint State-62 or better. Fully struck. This coin is currently on exhibit at the American Numismatic Association Museum.
2. Great Lakes collection, ex Larry Hanks, Superior 1/96: 2277 ($74,800; as PCGS MS-61), Winthrop Carner, Kevin Lipton, George Elliott, Mid American 1/87: 1814, RARCOA Auction 81: 386 ($72,500). Graded Mint State-62 by PCGS.
Other coins that have been graded as Uncirculated by one of the major services include the following:
* Robert L. Hughes, ex Heritage 1/04: 1037 ($92,000), Green Pond collection. Graded Mint State-61 by PCGS.
* Private collection, ex National Gold Exchange/Ken Goldman, Bowers and Merena 5/98: 1034 ($72,600). Graded Mint State-61 by NGC.
* Steve Contursi inventory, ex Stack's/Sotheby's 10/01: 318 ($48,875), Browning collection. Graded Mint State-61 by NGC.
* Private collection, ex Heritage 1999 FUN: 7664 ($57,500; as PCGS AU-58), Leon Farmer collection, Han*ock and Harwell, Stack's Auction 84: 1328 ($24,200), Arthur Montgomery, Stack's Goshen (2/78): 1093. Graded Mint State-61 by NGC.
* Private collection, ex Kingswood 3/01: 438 ($46,575), Stack's 10/99: 658 ($52,900). Graded Mint State-60 by PCGS. Identifiable by a large mint-made defect in the right obverse field.
And thanks to everyone for the kind words.
I like this quote very much and for me, it rings true. I would much rather have a 54-D $3, and I predict that I eventually will.
Edited to add: There are three AU's for sale at ANR this week (58, 58, and 50). I have seen the Jewell AU-58, and it is quite nice. I would not be surpised to see it sell for over $75,000!!!
The coin below is part of my Dahlonega type set. It is graded by PCGS AU50 and acquired in 1999 from Bob Harwell of Han@ock and Harwell. It has an unusually strong strike with nearly full denticles.
Overland Trail Collection Showcase
Dahlonega Type Set-2008 PCGS Best Exhibited Set
thanks for sharing... and congrats!
blue skies!
david
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