1854-D Three Dollar Gold - it doesn't get much better than this.

[JJSingleton]

I enjoy history. And, I am an avid outdoorsman. With those two interests it is no wonder why I am so infatuated with Dahlonega Gold. After all, there are few better stories in numismatics that that of the Dahlonega Mint. Think about it. A US Mint facility built in 1838 in an area with poor access on muddy rocky roads, in what can only be defined as a frontier. It was 10 years earlier that the area was solely inhabited by the Cherokees. Many collectors I speak with imagine Dahlonega with the charm of the old south. Plantation homes and Southern Belles. But in truth Dahlonega was the wild west of the times. The Cherokee called the area Talonega, which means yellow. The indians apparently knew what was in those mountains well before Benjamin Parks kicked that rock in 1828 and discovered gold.

 

Adding to the great numismatic story is that the Dahlonega area is my outdoor playground. I have hiked the trails that the indians walked, and canoed the streams that yielded much of the gold. Dukes Creek, Chestatee, and Findley Ridge are not only coin collections to me. These are places that I have hiked, camped, and canoed. Most of the area just to the north of Dahlonega is National Forest and remains much as it was 150 years ago.

 

Well enough about why I get excited with Dahlonega Gold and on to this coin.

 

Those who collect Dahlonega Gold (or any southern gold) recognize the 1854-D $3 as a coin with rock star status. As a single year type, once you own this coin you have completed your $3 Dahlonega set. But it's not all that easy to complete the set because on July 27, 1854 John Field, Jr., coiner at the Dahlonega Mint, produced the entire mintage of 1120 coins. Today it is estimated that only 100-125 are extant. To some, that may seem rare. But in the world of Dahlonega gold it is not rare, but considered only scarce. However, its rock star status creates a high demand, and when matched to the scarce supply makes this a very tough coin in any grade.

 

The 1854-D $3 shown below rates real high on the FatMan Coolness Scale™. (A scale that is well known on the PCGS forum) Not because it is high grade, it's not. In fact with a VF grade it is the lowest graded D-Mint piece I own. Not because it is pricey. It is, but I have others that are much more valuable. The reason is because of where it has been. Well, more appropriately where it hasn't been. It is my belief, and my dealer's belief through conversations with the prior owner that this well circulated coin has spent its entire existence in the Dahlonega area. The coin was part of an accumulation of D-Mint gold owned by a long time Dahlonega small restaurant owner. This elderly fellow apparently had an open offer to all the locals to buy any old gold pieces they had for the past 40 years. These coins were likely passed down from generation to generation and most likely never left Lumpkin County. The first time I saw this coin it was loose in a shoebox with about 20 other gold pieces. Of course it is no surprise that this was the only $3 in the box.

 

Now for the end of the story. Being that I live in the Metro Atlanta area, it just seemed wrong to me to move the coin permanently out of Lumkin County. So I now have a safe deposit box in Dahlonega where the coin resides. Currently it is the only item in the box. Now before you all think I am totally nuts, it is really not that big of a sacrifice. I am currently building a home just north of Dahlonega, and I expect to move within the year. So, it is only a matter of time before all my Dahlonega gold will find their way home.

 

 

If anyone has any questions about the 54-D $3, Dahlonega Mint history, or any D-mint gold I will be happy to take a shot with an answer. Bring'em on.

[Amanda]

Great post!

 

I, too, live in the metro area, but I have never been to the Dahlonega Mint. I really should cajole my parents into making a day trip of it. Perhaps this spring.

 

I think it's really neat that your coin has spent its whole life in Lumpkin County. This is what I love about Numismatics. This coin is a living part of Dahlonega's history!!

 

Thanks so much for sharing.

 

-Amanda

[IGWT]

Thanks for this thread and the information. Here's a question that betrays the ignorance of this northern New Englander. I've read about the Dahlonega Mint, though I've never truly studied southern gold, and I've seen the name of that place written countless times.

 

But, you know what . . . I've never, ever heard how it's pronounced. So, please do me the favor of providing a phonetic spelling.

[Amanda]

Around here, they say Duh LON uh guh.

 

-Amanda

[JJSingleton]

Around here, they say Duh LON uh guh.

 

-Amanda

Yep, that works.

 

Thanks Amanda.

[IGWT]

Around here, they say Duh LON uh guh.

 

-Amanda

 

Thanks, Amanda. That was not my guess, and I've been saying it to myself incorrectly -- Dah lon EE gah -- for so long now that I don't know if I'll ever be able to get it right.

[zrlevin]

Fantastic post!

[TomB]

Terrific post, FatMan. You know, having the coin in a safe deposit box near its historical home does not seem odd or absurd to me, so that might make you worry a bit.

[MAULEMALL]

Good post Fatman,,,I have seen on the history channel that there is still a LOT of gold in that area. Any info on whether there are any sites that are open to the public?

[SuperDave]

It's stories like that which separate the collectors from the kool-aid drinkers. Thank you for the inspiration.

[Zoins]

Wow, what an awesome post! Gorgeous coin, pics and great information. I've heard of southern gold but never read any information about it until now. It's also great you live in and hike around the area. I live right next door to Carson City but never thought to get interested in the coins because there's already so much interest.

 

That being said, I love learning about American history through coins and your post prompted me to check out the Wikipedia page on Dahlonega. I knew the Cherokee were forced to leave their homes after SCOTUS ruled in their favor but I never knew it had to do with a gold rush. It's also interesting that the same gold miners in GA went to CA to for its gold rush. I know someone who has a current gold mining stake in CA though I've have yet to take him up on his offer to visit his claim. Can you still get a stake in GA?

 

This has given me a lot to think about, both in the southern gold area and my own backyard. Thanks for posting!

[mgoodm3]

Nice story.

[jgrinz]

I am from Boston area so we would say it this way

 

Dahlonega = Darl - Lon - NAY - Gaaaa

 

IGWT must of forgetten his BOSTON Phoenetics

 

[NoTwilight]

Great post. Without a doubt that was the most enjoyable thing I've read anywhere all week. Thanks for taking time to write it so well. --Jerry

[JJSingleton]

I, too, live in the metro area, but I have never been to the Dahlonega Mint. I really should cajole my parents into making a day trip of it. Perhaps this spring.

Amanda, you probably already know but for the benefit of others who read your reply I though I would clarify there is no longer a Dahlonega Mint to visit. The original mint building burned down in 1878. However the original stone foundation remains, and North Georgia College's Price Memorial Hall currently sits on the old foundation. About all you will see is a historical marker. But the sense of history makes it worth the visit. There is the gold museum in the old court house on the town square and it is worth a visit as well. They have a complete set of Dahlonega Gold in a capital holder. It is quite a site. Too bad, like so many museum collections, most of the coins have been cleaned. But it is still very impressive.

[DirtyGoldMan]

I like the part about the safety deposit box, FatMan. I had not previously heard that part of the story.

[JJSingleton]

Good post Fatman,,,I have seen on the history channel that there is still a LOT of gold in that area. Any info on whether there are any sites that are open to the public?

The area still has substantial gold deposits. However, there is currently no active mining in the area. Consolidated Mines sold their frontage property a few years back and now a Wal-Mart is in its place. But they still retain the actual mine.

 

Panning for gold is a big tourist attraction, and surprisingly many people don't go home empty handed. We're talking gold dust, not nuggets, but it is still fun.

 

Last I heard, if gold reaches $1000/ounce some of the mines will reopen.

[DirtyGoldMan]

A few months ago I wrote a blog on this site regarding the unusual survival percentage of the 1854-D $3.

 

Link to blog

[Amanda]

I, too, live in the metro area, but I have never been to the Dahlonega Mint. I really should cajole my parents into making a day trip of it. Perhaps this spring.

Amanda, you probably already know but for the benefit of others who read your reply I though I would clarify there is no longer a Dahlonega Mint to visit. The original mint building burned down in 1878. However the original stone foundation remains, and North Georgia College's Price Memorial Hall currently sits on the old foundation. About all you will see is a historical marker. But the sense of history makes it worth the visit. There is the gold museum in the old court house on the town square and it is worth a visit as well. They have a complete set of Dahlonega Gold in a capital holder. It is quite a site. Too bad, like so many museum collections, most of the coins have been cleaned. But it is still very impressive.

 

Yes, that's what I meant but thanks for expounding upon it.

 

I had thought the museum was a part of the college, though. It's too bad the coins have been cleaned.

 

-Amanda

[mrearlygold]

Way cool Fat Man

[robec1347]

Not only are you all star collector, but also a wonderful story teller. Great post.

[SkyMan]

EXCELLENT post FatMan!!! Cool coin too! While I don't think you're nuts for keeping the coin there, you are definitely borderline. Then again we all are a little nuts about things we are passionate about.

 

Living in Northern California there is obviously a LOT of gold mining history associated with this place. One thing that occured here that totally trashed a lot of the landscape was the hydraulic mining of gold (essentially spraying very high pressure water at hillsides). Did this occur in the Dahlonega area?

[JJSingleton]

EXCELLENT post FatMan!!! Cool coin too! While I don't think you're nuts for keeping the coin there, you are definitely borderline. Then again we all are a little nuts about things we are passionate about.

 

Living in Northern California there is obviously a LOT of gold mining history associated with this place. One thing that occured here that totally trashed a lot of the landscape was the hydraulic mining of gold (essentially spraying very high pressure water at hillsides). Did this occur in the Dahlonega area?

Yes, hydraulic mining became very popular in the 1850s and later. Much of the landscape was destroyed and 150 years later some of the scars remain.

 

An interesting fact is that in the mid 1850's quite a bit of the gold coined in Dahlonega was California Gold. Many of the Dahlonega miners were enticed by the great California Gold Rush stories to join the rush. Many returned to Dahlonega in the mid 50's when they discovered the grass was not all that much greener out west. And when they returned, they brought California gold with them. The coloring of my 54-D $3 is more consistent with Georgia gold, but many coins were minted in Dahlonega with CA gold. You can often tell by the color.

 

Here is link to an article on Color of Dahlonega Gold. The article was written by Carl Lester, a friend of mine.

[JJSingleton]

I know someone who has a current gold mining stake in CA though I've have yet to take him up on his offer to visit his claim. Can you still get a stake in GA?...

Sorry Zoins, I missed your question until now.

 

There were no stakes in Georgia. In 1832 all of the Cherokee lands were settled by a land lottery. Most of the area was divided into 160 acre lots, but the gold region was divided into prizes of 40 acres each. Under GA law all males who resided in the state for four years were entitled to a draw. Of course, it was only after the lottery that the real scamming and speculation took place. Remember, in 1832 there was virtually no access to these lands other than by foot, so most of the winners had no clue where their property was, much less ever set foot on it. Much of the property was sold to speculators within a short period of time.

 

As an aside, my property north of Dahlonega is still defined by the original lottery. It is in the 1st District, LL 11. It was considered one of the prize gold lots.

[DC Dawg]

I, too, live in the metro area, but I have never been to the Dahlonega Mint. I really should cajole my parents into making a day trip of it. Perhaps this spring.

Amanda, you probably already know but for the benefit of others who read your reply I though I would clarify there is no longer a Dahlonega Mint to visit. The original mint building burned down in 1878. However the original stone foundation remains, and North Georgia College's Price Memorial Hall currently sits on the old foundation. About all you will see is a historical marker. But the sense of history makes it worth the visit. There is the gold museum in the old court house on the town square and it is worth a visit as well. They have a complete set of Dahlonega Gold in a capital holder. It is quite a site. Too bad, like so many museum collections, most of the coins have been cleaned. But it is still very impressive.

I spent five years in Athens (yes, I'm a UGA Alum) and two year in Atlanta and never thought to even try to visit the area where the Dahlonega Mint was. In fact, I don't think I was ever in Dahlonega!

 

As an aside, I've been to the old Mint in Charlotte (I went to high school in Charlotte). The Mint Museum in Charlotte is an art museum. There is a "wall" with a small exhibit on the history of the facility that has a two or three examples of Charlotte gold coins. Most of the exhibit is about the renovation of the facility to become an art museum.

 

Great stuff, FatMan! Glad you are here to share this with us!!

 

Scott

[Zoins]

I know someone who has a current gold mining stake in CA though I've have yet to take him up on his offer to visit his claim. Can you still get a stake in GA?...

Sorry Zoins, I missed your question until now.

 

There were no stakes in Georgia. In 1832 all of the Cherokee lands were settled by a land lottery. Most of the area was divided into 160 acre lots, but the gold region was divided into prizes of 40 acres each. Under GA law all males who resided in the state for four years were entitled to a draw. Of course, it was only after the lottery that the real scamming and speculation took place. Remember, in 1832 there was virtually no access to these lands other than by foot, so most of the winners had no clue where their property was, much less ever set foot on it. Much of the property was sold to speculators within a short period of time.

 

As an aside, my property north of Dahlonega is still defined by the original lottery. It is in the 1st District, LL 11. It was considered one of the prize gold lots.

Thanks for the informative reply. It's great to get more background on the area and history. Nice historic boundaries on your property too. I hope you find some gold on your land

[MikeInFL]

Great post (and coin), Fats. Say, do you think there's any gold left on the new lot? Do you have any plans to look?

[comicAL]

I enjoyed reading and viewing your post, FatMan! Just a wonderful story and I receive the passion of collecting southern gold through your writing! A question: was there a reason for the $3.00 denomination? It seems like an odd one to me.

 

AAJ

[DirtyGoldMan]

I enjoyed reading and viewing your post, FatMan! Just a wonderful story and I receive the passion of collecting southern gold through your writing! A question: was there a reason for the $3.00 denomination? It seems like an odd one to me.

 

AAJ

 

Numismatic lore has the $3 gold coin created to purchase a block of 100 three cent stamps. I never bought that theory.

 

More recently, it has been suggested (in the Bowers/Winter book on $3 gold coins) that the $3 note was a popular one in that time period and the US government had passed legislation to print one. The coin was therefore created to match the expected issue of $3 notes by the US government, which never took place.

 

The book, US $3 Gold Coins, 1854-1889 (Bowers/Winter), is a terrific treatise on the coin and on numismatics of that era. It is one of my favorite coin books and easily my favorite specialty coin book.

[JJSingleton]

Great post (and coin), Fats. Say, do you think there's any gold left on the new lot? Do you have any plans to look?

Mike, my lot is a higher elevation lot and I'm not counting on striking gold. There is a creek that runs on the property. I suppose if I get bored some day I might grab a pan and give it a shot just to see what's there.

 

To the best of my knowledge no mining took place in the immediate area. The area is quite remote and not very accessible so it just may have been ignored as there was plenty of gold much more accessible. It is only 11 miles to the Dahlonega town square as the crow flies, but it requires a 20 mile, 45 minute drive. According to deed records the mineral rights had been purchased in 1841 by a defunct mining company. However, under prior case precedent I own the rights. My attorney said to not bother having the deed changed because the old lien holds no value today. Its not worth the bucks to get the rights officially voided.