Of the three primary denominations struck at the Dahlonega mint, the gold dollars have the shortest duration. It is a difficult set to assemble, especially in higher grades. On a coin-by-coin basis, it is the most expensive with virtually every coin costing at least five figures.

Dahlonega gold dollars were made without interruption from 1849 through 1861. A total of 13 issues were made as compared to the Dahlonega quarter eagles which had 20 and the half eagles which had 26.

Dahlonega gold dollars have been popular with collectors for many years. Unlike the gold dollars from Philadelphia which were made from 1849 through 1889, the Dahlonega series is short-lived. It is a realistic goal to complete a Dahlonega set which isn’t the case for their counterparts from Charlotte, which include the excessively rare 1849-C Open Wreath (only four or five exist).

The rarest gold dollar from Dahlonega is the popular 1861-D which has an estimated surviving population of 70-80. This, of course, means that only 70-80 sets can be completed. If the collector is focused on choice About Uncirculated coins, the likelihood of completing a set is greatly reduced. The rarest Dahlonega gold dollar in AU55 and finer is the 1855-D of which fewer than two dozen exist in this range. If the collector has deep pockets (and is ambitious) an Uncirculated set is a real challenge as there are no more than four or five legitimately Uncirculated 1855-D gold dollars currently known.

The gold dollars from Dahlonega are the epitome of a “collector-driven” series. They hold their value in good markets and bad. If gold spot value dips from $1,800 to $1,500 per ounce, a Dahlonega gold dollar doesn’t suddenly lose 30% of its value. Part of their popularity stems from the fact that they are of interest to a variety of collecting styles: as a single coin, by type, by year, or as a defined specialty.

Using current grading standards (and therefore eliminating collections formed before the advent of third-party grading in the 1980s) I am aware of only two complete sets of Dahlonega gold dollars: Green Pond (put together by me and sold by Heritage Auctions in January 2004), and Duke’s Creek (assembled by Hancock and Harwell and sold en bloc to Austin, Texas businessman Jeffery Fisher in 2004, and then sold at auction by Heritage in April 2006).

As mentioned above, the great difficulty of completing an Uncirculated set of Dahlonega gold dollars is the rarity of the 1855-D. Not far behind is the 1856-D of which an estimated five to seven exist in MS60 and finer. There are three other gold dollars from Dahlonega which exist in quantities of 10 or lower: the 1850-D, the 1854-D, and the 1860-D, and to this select group of condition rarities, we can add the 1857-D which likely has around 10 (or fewer) currently accounted for in Uncirculated.

There is but a single Dahlonega gold dollar which is somewhat “common” in Uncirculated and this is the 1849-D of which three or four dozen exist; mostly in grades lower than MS63. The next most available dates (listed chronologically) are the 1851-D, 1858-D, 1859-D, and the 1861-D. All four of these are believed to have fewer than two dozen known in Uncirculated.

In my experience, at least 75% of the Uncirculated Dahlonega gold dollars which have been graded by PCGS and NGC are in the MS60 to MS62 range, and would likely not have been regarded as Uncirculated coins back in the 1980s and 1990s when standards for these coins were tighter than they are in 2022. Any D-mint gold dollar—even the common 1849-D—is very rare in MS63 and extremely rare in MS64. There are still no more than a half dozen Dahlonega gold dollars which are true Gems and this number remains basically unchanged since the last edition of my Dahlonega book was published in 2013. For all 13 dates combined, there are fewer than 200 properly graded Uncirculated pieces known.

However, compared to quarter eagles and half eagles from this mint, Dahlonega gold dollars have survived on a higher percentage basis when original mintages are taken into consideration. This is because two dates—the 1849-D and the 1861-D—appear to have been saved by North Georgians as souvenirs or curiosities.

The small size and relatively low intrinsic value of the gold dollar meant that fewer pieces were melted than the larger, more intrinsically valuable quarter eagles and half eagles. In addition, there were likely a few hoards which existed at one time.

As a rule, gold dollars from this mint are likely to be found in higher grades than quarter eagles and half eagles. More than 50% of the known pieces grading AU50 or finer, and you almost never see any Dahlonega gold dollar in low grades (F12 to VF35). This is simply not the case for the larger issues as they are seen with some degree of frequency in so-called collector grades.

Viewed as a group, the 13 gold dollars from the Dahlonega mint are the worst-produced series of any United States issues made from 1795 onward. These coins have given the Dahlonega mint the reputation of producing shoddy coins, and this is true in some instances but there are a number of quarter eagles and half eagles from this facility which are nearly the equal of a contemporary issue made at the Philadelphia mint.

Certain issues—such as the 1852-D, 1854-D, 1855-D, 1856-D, 1860-D, and 1861-D do not exist without irregularities of strike which range from missing letters to weak dates to excessive clashmarks. Other issues are often found on poorly prepared, inferior quality planchets. Even the finest sets of Dahlonega gold dollars contain numerous coins with “issues.” But the crudeness of these coins is what attracts many collectors. I compare these coins to 18th and early 19th century American Folk Art portraits in which the painter didn’t understand the fine points of perspective and, as a result, painted undersized or oversized children.

Three types of gold dollars were made at the Dahlonega mint. These are as follows:

Type One, Liberty Head: 1849-1854 (6 coins total)
Type Two, Small Indian Head: 1855 (1 coin total)
Type Three, Large Indian Head: 1856-1861 (6 coins total)

The Type One issues are the most common gold dollars from Dahlonega. Of the six dates, the 1849-D is far and away the most available. As many as 30% of the total known Dahlonega dollars are dated 1849-D. This makes sense when one considers that of the approximately 66,948 total struck, 21,588 (or 32.24%) were dated 1849-D. A sizable number exist in Uncirculated and, as mentioned above, this is likely due to some being saved as first-year-of-issue souvenirs.

The two rarest Type One dollars from this mint are the 1850-D and the 1854-D. Despite a comparatively high mintage of 8,382 (second highest in the Type One series from this mint), the 1850-D is rare in high grades with fewer than two dozen properly graded AU55 or finer pieces known. The 1854-D is more of a forgotten rarity as it has been recognized as being a hard issue to locate by many generations of collectors, but it isn’t widely recognized today.

As with all the other branch mint Type Two gold dollars, the 1855-D is a popular one-year type. It is the rarest Dahlonega gold dollar in high grades. Most are seen with poor strikes and the small number known which show a full, clear date are very rare and typically sell for premium prices.

The six Type Three issues were made from 1856 through 1861. This type includes some of the most common and the rarest gold dollars from Dahlonega.

The two most available dates are the 1858-D and 1859-D. The rarest are the 1856-D, 1860-D, and the popular 1861-D. The 1856-D and the 1860-D are not as rare as once believed but they are both extremely rare in Uncirculated with around a half dozen known of each issue. The 1857-D is underrated and it is also quite rare in Uncirculated; although not as much so as the 1856-D and the 1860-D.

The 1861-D is the only American coin of which every example is known to have been made by the Confederacy after they seized the Dahlonega mint in April, 1861. This issue is extremely popular and it is actually overvalued in relation to issues such as the 1856-D and the 1860-D. But the 1861-D has multiple levels of demand and this makes it very popular with a large number of collectors. This includes people who will never buy another coin from Dahlonega other than an 1861-D dollar.

Most collectors attempt to assemble a full set of 13 dollars from this mint. There are other less expensive ways to tackle this project.

A three-coin Type Set would consist of one each of the three types discussed above. The cost of the 1855-D will make up a large percentage of the cost of such a set, and I suggest that the collector not skimp on a low-end example as is tempting to do.

A collector might assemble a “first year/last year of issue” set which consists of the 1849-D and the 1861-D. Again, the bulk of the cost of such a set would be one coin; in this case the 1861-D.

1854 was the sole year in which every denomination struck at this mint was produced. A neat set would consist of four coins: the 1854-D dollar, quarter eagle, three dollar, and half eagle. This set will be expensive, especially if the coins are purchased in AU55 and higher grades.

Finally, the collector can view the entire Dahlonega gold dollar set as a single entity and purchase one nice coin as a type representative.

Dahlonega gold dollars have proven to be very popular over the years, and I believe that we will see continued price appreciation for choice coins with natural color and above-average surface preservation.

Are you new to collecting Dahlonega gold and wanting a mentor to help you build a world-class set? Call me. I know these coins and I know the market. Together, we’ll have fun building a truly great set. I’m Doug Winter and you can reach me at (214) 675-9897.

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Dahlonega Gold Dollars: An Introduction and Overview

Douglas Winter Numismatics

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