1856-D $2.50 PCGS AU55 CAC

The 1856-D quarter eagle has the lowest mintage figure of any coin ever struck at the Dahlonega mint and it is the single rarest issue from this mint. Only 874 were produced of which an estimated three to four dozen exist. The coin that the 1856-D quarter eagle offers an interesting comparison to is the 1854-D three dollar of which just 1,120 were struck. The 1856-D, in my experience, is easily twice as rare and in Choice AU it is maybe three times as rare. In spite of this, the 1856-D is currently valued at around 25% less than the 1854-D three dollar in comparable grades. The present example is the nicest 1856-D quarter eagle to come onto the market in at least a year and I think it is considerably nicer than the NGC 58 that Heritage sold as Lot 4697 in their October 2011 auction for $40,250. I purchased this coin from one of the sharpest "crackout" dealers in the business and he spent at least six months trying to get this coin into a Mint State holder. I actually think he's got a point on this example and it really does seem to be free of wear and deserves consideration to be in an Uncirculated holder. As with all 1856-D quarter eagles, it is crudely struck but it shows better than average overall detail. There is dirt in the protected areas and the color is a nice medium rose and green-gold hue. The coin is easily identifiable by a small spot on the reverse in the field below the left base of the A in STATES. Overall, this is a simply outstanding coin. If you collect Dahlonega gold you are certainly aware of its significance but I'd also give it a glowing recommendation to the individual who is looking for a great piece to salt away for a few years.

Ex Scotsman 10/11: 389 where it sold for $41,975. This was before it was approved by CAC.