1849, Open Wreath, Small Head
Total Page：16
File Type：pdf, Size：1020Kb
SOUTHERN GOLD DOLLARS 1849-C, Closed Wreath Mintage: 11,634 Graded NGC: 99 total, Mint State 31, Finest MS64 (2) The 1849-C Closed Wreath variety can be considered quite scarce in any grade. High grade examples are usually prooflike in appearance but can be difficult to grade due to convex obverse fields (giving the coin a bulged look), which can be confused with damage. Low grade pieces are the norm, with Mint State coins being very rare. The 1849-C Closed Wreath design is scarce in all grades, but it is the only collectible Charlotte Mint gold dollar for the year that is practical to collect. The finest example seen is an MS64 coin that was discovered by me in 2014, and later sold at auction in 2015 for $49,350. 1849-C, Open Wreath Mintage: Unknown and included as part of the 1849-C, Close Wreath Graded NGC: 2 total, Mint State 0, Finest XF45 (1) This issue must be considered the “king” of all gold dollars and is one of the rarest U.S. gold coins. The Charlotte Mint was the only branch mint to receive the new Close Wreath dies in time to strike the 1849-dated coins. All other branch-mint issues are found with Open Wreath designs only. Probably just a handful of coins were struck in Charlotte with the Open Wreath dies. Waldo Newcomer discovered the variety sometime before 1933. It is estimated that currently five are known to exist, the finest being an MS63, which sold for $493,500 in April, 2015. Other known examples of the 1849-C, Open Wreath design grade from Fine to About Uncirculated. Note: this coin is included among the 100 Greatest U.S. Coins (Garrett and Guth). 1849-D Mintage: 21,588 Graded NGC: 290 total, Mint State 109, Finest MS65 (1) Although this date is the most common Type 1 gold dollar from the Dahlonega Mint, demand from type collectors has made it popular in any grade. The mintage is relatively small, but many were undoubtedly saved as first-year-of-issue souvenirs. Partial prooflike examples are sometimes seen. Even though many were saved as first year of issue, high- grade examples are very rare. Only a couple survive that could be classified as gems. The mint state coins seen are usually MS61 or MS62. Most coins that are seen however are well worn, with the average coin being Very Fine or Extremely Fine. NGC has certified a single example in MS65, but that coin has not traded at auction. 1849-O Mintage: 215,000 Graded NGC: 751 total, Mint State 341, Finest MS66 Plus (1) None of the Close Wreath dies were received in New Orleans in time for the coinage of 1849; thus, all known examples are of the Open Wreath variety. Most examples are well struck on the obverse but are usually weakly struck in the central portions of the reverse, sometimes very much so. This is one of the more readily available New Orleans issues but is still quite popular as a first year of issue. The 1849-O coin is not a great rarity in the lower states of preservation. Choice and gem coins are, however, seldom seen and quite desirable. The finest graded example, an NGC MS66 Plus sold for $20,700 in August, 2012. 1850-C Mintage: 6,966 Graded NGC: 79 total, Mint State 19, Finest MS63 (2) The 1850-C issue is one of the rarest Charlotte Mint gold dollars. High-grade examples are almost never seen, and lower-grade coins are elusive. The production of the 1850-C gold dollar is generally poor, making grading difficult. The surfaces of this issue are often prooflike but with grainy or rough patches. The strike, on most seen by the authors, has been average, with some weakness on the obverse. Just a few choice coins have been graded over the years. Notable examples that have surfaced include the Eliasberg coin, the James A. Stack piece, and the coin that was part of the famous Elrod Collection. 1850-D Mintage: 8,382 Graded NGC: 98 total, Mint State 23, Finest MS64 (2) As a date, the 1850-D issue is far rarer than the 1849-D gold dollar. Relatively few have been graded Mint State, and the 1850-D coin is very scarce in any condition. The number of coins offered at auction is also less than one would expect. The average coin seen is Very Fine Extremely Fine. This issue can easily be considered one of the rarest Type 1 gold dollars. Most 1850-D gold dollars are softly struck on the obverse, making grading a tricky affair. The finest example known of the date is the exceptional piece from the famed Duke’s Creek Collection of Dahlonega gold coins. The coin was graded MS-64 by NGC and sold at auction in April, 2006 for $34,500. 1850-O Mintage: 14,000 Graded NGC: 197 total, Mint State 85, Finest MS64 (1) The 1850-O issue has by far the lowest mintage of any New Orleans gold dollar. This date is at least as rare as many Dahlonega and Charlotte issues and can be considered underrated at current levels. High-grade coins of this issue are very rarely seen, and the finest graded examples to date have been two MS-64 specimens, one of which resided in the famous Harry W. Bass Jr. Collection. The vast majority of mint state examples seen grade MS61 or MS62. Most 1850-O dollars are well struck, but they are sometimes found with light die rust on Liberty’s neck and jaw. In the 1906 Harlan P. Smith sale, the Chapman brothers noted that this date was the rarest New Orleans gold dollar, in their opinion—a very astute observation for the time. 1851-C Mintage: 41,267 Graded NGC: 399 total, Mint State 135, Finest MS66 (2) The 1851-C issue is by far the most common gold dollar from the Charlotte Mint—and the most common denomination, for that matter. Circulated examples are relatively easy to find, but the demand for branch-mint gold has steadily increased over the last few years. In Mint State condition, this date is the only Charlotte gold dollar that can be found without a great deal of effort. Most 1851-C gold dollars are well struck. Several examples of this date are known in gem condition, the finest graded to date being MS-66, one of which sold at auction in January, 2012 for $32,200. 1851-D Mintage: 9,882 Graded NGC: 134 total, Mint State 54, Finest MS65 (1) This date is the second-most-common Type 1 gold dollar struck at the Dahlonega Mint. The term common must be kept in perspective, however, when one considers that more than three million gold dollars were struck at the Philadelphia Mint in 1851. Circulated examples are not exceptionally rare, but very few Mint State coins have been graded by NGC. The finest by far is the superb NGC MS-65 Duke’s Creek / Bareford specimen. This fabulous piece sold for $7,500 in 1978! The coin more recently sold at auction in April, 2006 for $37,375. Many Dahlonega Mint coins of this date are boldly struck and have above-average surfaces. A number also exhibit heavy die clashing. 1851-O Mintage: 290,000 Graded NGC: 896 total, Mint State 412, Finest MS66 (1) As would be expected of a coin with a relatively high mintage, the 1851-O gold dollar is not extremely difficult to locate in circulated condition. It is still much rarer than its Philadelphia counterpart for the year. Mint State coins are increasingly difficult to locate in a higher state of preservation. Gem examples are very rare, and a single example has been graded MS66 by NGC. A small group (10 to 12) of MS-64 and MS-65 coins was discovered around 2001. Most of the high-grade coins seen have good luster and golden- yellow surfaces. Interestingly, several coins have been cataloged in the distant past as Proofs. Some 1851-O gold dollars are partially prooflike (NGC has graded one as such), but none would be considered a true Proof by modern numismatists. 1852-C Mintage: 9,434 Graded NGC: 150 total, Mint State 62, Finest MS66 (1) With a mintage of less than 10,000 coins, the 1852-C gold dollar must be considered scarce in any condition. Only 150 of these gold dollars have been certified in all grades by NGC. Although a scarce coin in any grade, a number of Mint State examples are known, including a superb NGC MS-66 example that last sold in January, 2000 for $24,150. That coin is a radiant gem, but like most 1852-C gold dollars, it has an imperfection on the reverse at the LA of DOLLAR. The flaw at first appears to be a planchet imperfection, but it is obviously a die problem, probably caused by some foreign material adhering to the die. This mint-caused defect should not affect the value. 1852-D Mintage: 6,360 Graded NGC: 107 total, Mint State 28, Finest MS63 (4) This date should be considered rare in any condition. Population numbers suggest that it is very similar in rarity to the 1854-D gold dollar (a fact noted by David Akers long before population reports). Relatively few Mint State examples have been certified, and they are seldom offered for sale. The average coin seen is Extremely Fine or About Uncirculated. The finest coin known of the date is the NGC MS-63 example from the Duke’s Creek Collection sold in April, 2004 for $27,600.