Price: 4,050.00 - SOLD - 2/28/2012* Free Shipping and Insurance for coins at $10K or above.
1847-D $2.50 (1847-D Quarter Eagle) NGC AU55 CAC. This Southern branch mint quarter eagle is well struck, unlike other coins of this date and mint. It has full obverse stars and strong dentils on both sides. The surfaces are clean, original, and free of distracting marks. There is sufficient separation in the lines of Libertys hair and the top of the coronet to indicate the grade, which in confirmed by CAC, meaning that the coin meets stringent standards for quality within the grade.
The discovery of gold on Cherokee land in Georgia caused a large group of miners to come to the frontier town of Auraria, which is now Lumpkin County, Georgia. Its name derives from aurum, the Latin word for gold. Soon Dahlonega, which meant yellow money in Cherokee, would become the county seat. The miners need to convert oar and dust into bullion led to the establishment of private coiners, including the Bechtlers and Templeton Reid; however, because of a lack of standardization, there was pressure for a federal coinage to be created. The federal branch mint at Dahlonega was established to meet this need.
A building was erected in the town of Dahlonega. Power for its coining equipment came from steam produced in a boiler in the basement. Two small steam driven presses were on the first floor just above the boiler room. They could produce one coin per second. Because of the small size of the presses, the largest coins produced were half eagles.
The mint worked as a refinery for gold deposits. People would bring in dust, nuggets, bars, and foreign coins. They would then be refined to establish their value. Silver that naturally occurred in the Georgia gold was not removed from the oar because the gold was more pure than the standard 90% fine. After the gold was coined, it could be picked up by the depositor.
The 1847-D quarter eagle had an original mintage of 15,784. In its population report as of October, 2011, CAC has confirmed 2 in AU55 with 8 better.
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