1854-D $5 (1854-D Half Eagle) NGC MS62. This rare Southern branch mint gold 1854-D Half Eagle shows muted mint luster within its devices. Except for a few minor ticks in the fields, the surfaces of this coin are clean and free of distractions suggestive of a higher mint state grade. The strike shows the normal weakness at the centers and dentils on both sides of the coin.

Christian Gobrecht designed the half eagle. It shows Liberty wearing a coronet facing left, her hair tied with beads in the back. Two loose curls flow down her neck. She is surrounded by thirteen six-pointed stars with the date below. Dentils are around the periphery of the coin. The reverse shows a heraldic eagle facing left with wings outstretched. An olive branch and arrows are clutched in its talons. Surrounding the eagle is the inscription UNITED STATE OF AMERICA, interrupted by the wing tips. The denomination FIVE D. is below. Between the denomination and the intersection of the olive branch and arrows is the D mintmark.

The discovery of gold in the early 1800s led to the establishment of two of the Southern branch Mints, Charlotte North Carolina and Dahlonega Georgia. In 1835 an act of Congress mandated that these two branch mints would coin only gold. The New Orleans Mint also opened to handle gold from Mexico. In 1838 the first Dahlonega gold coins were made, and they were the Classic Head Half Eagle type. Because of the local alloys high silver content, Dahlonega gold coins often have a green-gold cast. They are also often weakly struck on irregular planchets. Dahlonega gold coins are eagerly sought by collectors and investors because of their low mintages and rarity. Modern D mint coins should not be confused with these coins. Today a coin bearing the D mintmark was minted in Denver, which began production in 1906.

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.

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 1854-D half eagle had an original mintage of 56,413. In its population report, NGC shows 21 certified in MS62 with 7 better.