1854-D Gold Three Dollar


1854-D Gold Three Dollar

Circulation Mintage: 1,120
Estimated Survivors: 120-160 in All Conditions
Obverse Text: UNITED STATES OF AMERICA | LIBERTY
Reverse Text: 1854 | D | 3 DOLLARS

Located not far from the western end of North Carolina, the Dahlonega region experienced a significant gold rush in the 1820s. Native gold from the area was made into coins by Templeton Reid of Georgia who struck $2.50, $5, and $10 pieces dated 1830 and to a far greater extent by the Christopher Bechtler family from 1831 to 1852, though only one of their issues in all that time was actually dated; it bore the date August 1, 1834 to show it conformed to the recently adopted weight standards set forth by the U.S. Mint.

After nearly a decade of private coinage in the South, the U.S. government saw a need for more than just the Mint in Philadelphia. Accordingly, three branch mints were opened in early 1838, one in Charlotte, North Carolina, another in New Orleans, Louisiana, and the third in Dahlonega. The mints at Charlotte and Dahlonega produced only gold coins through 1861, when both mints were closed at the outbreak of the Civil War. New Orleans struck only silver coins until 1840 when it too began producing gold coins.

The branch mint at Dahlonega, Georgia struck 1,120 $3 gold pieces in 1854, the first and only year that the facility produced the denomination. The entire production run for this rarity was accomplished in August from one die pair and most of the mintage passed into circulation. None are known to have been saved purposefully by a numismatist, and not even the curators of the Mint Cabinet showed an interest in obtaining an example. As a result, the typical 1854-D $3 is a well-circulated VF coin. Many of the 120 to 160 or so survivors estimated to exist today have been cleaned or otherwise harmed. Any example even approaching Mint State can be considered a truly special coin. At the Uncirculated level it is a major U.S. gold rarity.

Advanced cabinets of Indian Princess $3 gold pieces are often judged by the overall quality of the 1854-D issue. A Chapman brothers listing at lot 334 in their December 1897 sale noted: “1854. Dahlonega Mint. Very Fine. Extremely rare. Probably not over six known.” Among the most famous $3 Indian Princess collections to cross the auction block was the Richard Jewell Collection, offered by American Numismatic Rarities in May 2005. The Richard Jewell 1854-D was a PCGS-certified AU-58 coin that still ranks among the finest examples of the date extant. The Harry W. Bass, Jr. Collection, Part II, sold by Bowers and Merena in October 1999, offered a pleasing AU-55 PCGS-certified example of the date. The Pogue Collection coin is far and away the most widely heralded example.

View 1854-D Gold Three Dollar Auction Results

The example to the left was sold by Stack's Bowers Galleries in the Summer 2022 Global Showcase Auction, where it realized $528,000.
 

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