1849-D $2.50 (1849-D Quarter Eagle) NGC AU58. Gleaming mint luster remains in protected areas of this Southern branch mint 1849-D Quarter Eagle. The strike is above average with full details on the obverse stars and most of Libertys hair curls. The grade is confirmed by the ample separation between the lines of Libertys coronet and hair and the hair over the eye. The surfaces are clean, original, and free of distractions worthy of individual mention.

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.

On April 21, 1838 the Dahlonega Mint produced its first coinage, 80 half eagles. In that year 20,583 half eagles were minted in Dahlonega. The first quarter eagle was made the next year in February.

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 1849-D quarter eagle had an original mintage of 10,945, making it fundamentally rare in all grades. In its population report, NGC shows a group of 57 pieces that are tied for fourth finest in AU58 with 13 better. This AU population is probably inflated by many resubmissions since there are so few coins of this date and mint in mint state.