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 Replies: 13 / Views: 1,505 |
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New Member
United States
4 Posts |
Hello all in the Coin Community Family... I am seeking assistance in determining the value of a recently inherited 1856 D One Dollar Gold Piece that I was told was minted in Dahlonega, GA. Any information would be most helpful. I am a "newbie" in the Coin World so please be kind  |
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Pillar of the Community
Australia
1360 Posts |
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Pillar of the Community
United States
1173 Posts |
To add to Snooba's post...pictures will help, and condition is important, but DON'T clean the coin to make it "look better." Cleaning almost always diminishes the value of a coin significantly.
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Pillar of the Community
United States
772 Posts |
This is definately one of the better coins in the series, but others have stated, condition is the key.
For most of the conditions, there is atleast a $1,000 diffence between each condition. Quite a bit more if it appears to be uncirculated.
And as hunter20ga emphasized, do not clean the coin.
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New Member
 United States
4 Posts |
Thank you for your posts. I have a great place to start. There will not be any cleaning. I will be attempting to get a digital photo soon. Thanks again.
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Pillar of the Community
United States
6381 Posts |
Hello Scotqt,
1856-D gold dollars are rare but there are lots of records for specimens that have been sold at auction. Heritage (one of the largest coin auction firms) lists sale prices for this coin ranging from over $4,000 for a damaged specimen to over $40,000 for an uncirculated coin. If your coin is genuine, it's a real prize!
You should have this coin authenticated and graded by a third-party grading service like ANACS. If you intend to sell it, having it graded will make it much easier to find a buyer.
As everyone else has said, DO NOT CLEAN THIS COIN!
If you can post photos of the front and back of your dollar, forum members will have a better shot at estimating the true value.
Congratulations on this terrific inheritance, and welcome to the forum!
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Pillar of the Community
United States
1173 Posts |
If it was minted in Dahlonega, GA, it will have a "D" (mint mark for Dahlonega) on the back of the coin under the wreath. That mint was set up originally to mint gold coins from the gold mines in Georgia and North Carolina (from P 15 of the 2007 Red Book). There were only 1,460 of the one dollar gold coins minted at Dahlonega in 1856, hence the great value ranging from abut $4000 to maybe $75,000 for a coin in near-perfect condition. While significantly less valuable, the other 1856 gold dollar coins can still command a pretty nice price of $140 to maybe $1150. Note: all values are from the Red Book and aren't current, so may be off somewhat. Best wishes. |
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New Member
United States
4 Posts |
Pictures of the 1856 D One Dollar Gold Piece Image:  Front.jpg98.6 KB |
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New Member
United States
4 Posts |
Here is the back of the 1856 D One dollar Gold Piece Thanks for any and all assistance. Your advice has been very informative. Any suggestions on how to or where to proceed to get professional grading or possible pricing would be welcomed! Your community is great, thanks for making me feel so at home. Image: Back 1.jpg89.71 KB |
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Pillar of the Community
United States
1173 Posts |
Considering the potential significant value of this coin, I would suggest carefully researching the major coin dealers in "your area" (which really means wherever you're willing to drive) to see if you can get the coin authenticated. You would be looking for a dealer with significant experience in gold coins, especially the gold dollars. I would not let the coin out of my sight, though, without having some really good photos of it. It's not that I distrust people in general, it's just that several thousand dollars can tempt a lot of folks... At any rate...if you get good references for a dealer, I would think you can start there with a fair degree of trust. In the end, I would have PCGS, ANACS, or another of the MAJOR third party graders grade, authenticate, and package ("slab") your coin, if you have intentions of selling it. A reputable dealer can help in this endeavor. Others on this forum have far more experience than I do, so may add recommendations, but also may suggest alternative routes for you to consider. Congratulations...and best wishes.  |
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Pillar of the Community
United States
6381 Posts |
Your coin looks to be in the VF-30 to EF-40 grade range. It doesn't look seriously damaged, although I can't be sure. There are some rim irregularities that could be caused by having been mounted in a bezel at some point. If so, the value would be further reduced. Nevertheless, this looks like a potential $5,000+ coin to me.  Your images match quite well to the descriptions and photos of a genuine 1856-D coin in the reference book "Gold Coins of the Dahlonega Mint 1838-1861" by Douglas Winter. One suggestion I have is for you to contact Mr. Winter at his website, https://www.raregoldcoins.com. He is a true expert on Dahlonega gold and would probably be very interested in your coin. He might make you an offer! If you want to have it authenticated and graded, I would pick ANACS. As long as it is authentic, they will grade and encapsulate your coin even if it is damaged, unlike the other major grading services PCGS, NGC, and ICG. Check out their website at https://www.anacs.com and review their procedures for submitting coins. I would pick their $39 2-day rate and insure this coin for at least $5,000. You should ship the coin by registered mail and will also have to include the return shipping fee in your payment. Thanks for sharing your coin, and please post an update about what you decide to do! |
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Pillar of the Community
United States
2254 Posts |
Just thought I'd throw my Two Cents in on the grading aspect. If you can get it authenticated at a local reputable dealer, I personally would not ever let this coin out of my sight. If I know for certain it's real, and as Jaobler stated sending an email and some pics to Mr.winter for more verification, I would go to a large show. If I am not mistaken, the top three TPG's have booths at the large shows, and will grade and encapsulate on the spot? This way that coin would never have to go into the mail, and would never have the opportunity to get lost or switched. Call me crazy, but a potential $5000+ coin would outweigh the $300 round trip airfare. Absolutely just my Two Cents, but I am paranoid about things like this. Whatever could possibly go wrong would for me.... |
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Pillar of the Community
United States
882 Posts |
Another thing, when you go into a coin shop, be careful. Some coin dealers look for people who know nothing about coins and they will take your coin from you for a fraction of it's value. The sad thing is, you would never even know it happened.
I would get this coin graded by either PCGS or NGC. Just my opinion.
If you don't plan on selling this coin you might as well get it slabbed anyways. You don't want them kids going throught them shoe boxes.
Ty
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New Member
United States
19 Posts |
I believe that the coin grades better than VF-XF - they are typically softly struck and it looks AU, at a minimum, to me. Here is a PCGS AU58 for comparison purposes:   I would suggest that you have it authenticated and graded by either NGC or PCGS, as its "value" to potential buyers will potentially be enhanced considerably that way. There are a number of of trustworthy dealers you can work with. In fact, I believe that I am one such dealer, and can provide references from my 30 years experience. Please free to contact me if you would like some other specific recommendations or have questions, even if you prefer to work with another dealer. Edited by coinguy1
04/10/2007 5:18 pm
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Replies: 13 / Views: 1,505 |
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Posted 04/09/2007 08:54 am
Front.jpg
Back 1.jpg
