My recent sale of the Star City Collection of Dahlonega quarter eagles made me revisit rarity levels of Dahlonega quarter eagles. All of the coins in this all-PCGS set were CAC approved. As I looked up the populations of CAC D-mint quarter eagles, I was repeatedly surprised by the small number of coins which had been approved, as well as the percentage of low grade coins approved versus those in higher grades.

**1841-D $2.50 graded PCGS EF45 with a CAC gold sticker, from the star city collection**

The following chart reflects CAC numbers as of mid-May 2024.

    Date
    Low Grade
EF45 and Lower
    High Grade
AU50 and Higher
    Total Graded

  


    1839-D
    17
    15
    32
  

    1840-D
    2
    5
    7
  

    1841-D
    6
    5
    11
  

    1842-D
    5
    6
    11
  

    1843-D*
    25
    33
    58
  

    1844-D
    12
    28
    40
  

    1845-D
    8
    17
    25
  

    1846-D
    11
    22
    33
  

    1846-D/D
    2
    5
    7
  

    1847-D
    9
    26
    35
  

    1848-D
    9
    18
    27
  

    1849-D
    8
    21
    29
  

    1850-D
    11
    22
    33
  

    1851-D
    6
    9
    15
  

    1852-D
    1
    8
    9
  

    1853-D
    2
    9
    11
  

    1854-D
    9
    5
    14
  

    1855-D
    3
    7
    10
  

    1856-D
    5
    7
    12
  

    1857-D
    0
    8
    8
  

    1859-D
    5
    9
    14
  

    Totals
    155
    285
    440
  

Note: * Includes all varieties

From the chart above, we can make some valuable conclusions. A few of these are as follows:

**1840-D $2.50 graded PCGS AU53 with a CAC sticker**

The rarest Dahlonega quarter eagles according to CAC data are the 1840-D through 1842-D, 1846-D/D, 1852-D, 1853-D, 1855-D, 1856-D, and the 1857-D. All of these have total populations of a dozen coins or less.
The 1846-D/D is less rare than the CAC data suggests due to the fact that examples are known which have not yet been designated by PCGS or NGC.
The 1857-D is also less rare in high grade than its CAC population leads us to believe, and this is due to the fact that most examples of this date are either too bright or have artificial color. As a result, these will likely never sticker at CAC.
The 1840-D and the 1855-D are clearly among the rarest dates of this design in higher grades, but the 1852-D is a bit of an outlier as I think it is a bit more available in higher grades than its very low CAC population suggests.

Here are some year-by-year comments regarding D mint quarter eagles:

**1839-D $2.50 graded PCGS EF45 with a CAC sticker, from the star city collection**

1839-D: I’m pretty surprised by the number approved by CAC as I’ve only handled seven different CAC approved examples of this date since 2015. As I told someone the other day, the 1839-D is the most overvalued quarter eagle from Dahlonega, but it has such a high level of demand the current value for a nice example (EF and higher) is completely justifiable.

1840-D: This date is so much rarer than most people realize. The example in the Star City set is crazy expensive, but go find another with this degree of eye appeal.

1841-D + 1842-D: If you can locate nice CAC approved examples of either of these dates at less than $10,000, don’t hesitate to buy them.

1843-D: This is the most “common” D mint quarter eagle with over 13% of the total known population of all CAC approved quarter eagles from this mint. Even so, I’d buy everyone single nice one I could find at current levels.

1844-D: Another reasonably common issue but I have handled less than a half dozen separate coins in a decade. This date is much scarcer in AU55 and finer than most collectors assume.

1845-D: This is not the common date that most collectors believe it to be. It should bring at least a 25-30% date premium in relation to the 1843-D or the 1844-D.

**1846-D/D $2.50 graded PCGS AU58 with a CAC sticker, from the star city collection**

1846-D +1847-D: These two issues make excellent type coins as they are a bit scarcer than the 1843-D and 1844-D, but better made and sometimes come with great natural color.

1848-D: Same comments apply to this date as to the 1845-D.

1849-D: The high-grade CAC population for the 1849-D is higher than it should be. It is possible that it might be inflated by three to five coins in the AU53 to AU55 range.

1850-D: Same comments for the 1850-D as for the 1849-D. Based on auction appearances and the number I’ve bought and sold in the last decade, “22” CAC approved coins in AU50 and higher seems awfully high for this date.

1851-D: I would have never guessed that the CAC population for the 1851-D would be six in lower grades/nine in higher grades/15 total versus six in lower grades/five in higher grades/11 total for the much rarer—and more expensive—1841-D.

1852-D: How is it even possible that just one 1852-D quarter eagle has been approved by CAC in EF45 or lower?!?

1853-D: And just two 1853-Ds in EF45 or lower?

**1855-D $2.50 graded PCGS EF45 with a CAC sticker, from the star city collection**

1854-D + 1855-D: Both of these traditionally higher-priced dates now feel somewhat undervalued in EF45 and lower grades. The PCGS/CAC EF40 1854-D and the PCGS/CAC EF45 1855-D I sold in Star City were less than $30k for the pair and it feels like the 1855-D alone should be worth this much.

1856-D: Given what the Star City coin looked like (it graded EF45 by PCGS but I saw it as a 53 or finer) I’m now convinced that no one really knows how to grade this date.

1857-D: I wish I could figure this date out. Was there are a hoard of scrubby AU coins as I’ve long maintained?

**1859-D $2.50 graded PCGS AU55 with a gold CAC sticker, from the star city collection**

1859-D: At one point this issue was extremely scarce with CAC approval, but a few nice coins have entered the market in the last decade.

Let’s work together on your set of Dahlonega quarter eagles or a D mint type set. You can contact me via email at dwn@ont.com to discuss your collecting goals and aspirations.

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