The 1850-D Liberty Head Quarter Eagle is an important coin in American history and numismatics. It was minted at the Dahlonega Mint, which played a significant role in producing gold coins during the California Gold Rush. This article will explore the mintages, circulation, and surviving specimens of the 1850-D Liberty Head Quarter Eagle, as well as provide insights into its market data and noteworthy examples.
| Year | Mintage |
|---|---|
| 1843 | 36,209 |
| 1844 | 10,945 |
| 1845 | 19,460 |
| 1846 | 11,000 |
| 1847 | 11,000 |
| 1848 | 12,000 |
| 1849 | 12,000 |
| 1850 | 11,000 |
| 1851 | 12,000 |
| 1852 | 10,000 |
| 1853 | 11,000 |
| 1854 | 12,000 |
| 1855 | 12,000 |
Mintages at the Dahlonega Mint
After producing 36,209 Liberty Head Quarter Eagles in 1843, the Dahlonega Mint experienced fluctuations in mintages throughout the 1840s. During this period, the mintages generally ranged between 10,945 and 19,460 for the rest of the decade.
Mintages Overview
- 1840s Mintages: Between 10,945 and 19,460
- Early 1850s Mintages: Ranged from 11,000 to 12,000 for the first two years
- Production Falloff: Significant drop in mintages in the early 1850s
The Philadelphia Mint prepared three obverse dies for the 1850-D Liberty Head Quarter Eagle, but only one marriage (combination of die and coin) is known to exist.
Circulation and Surviving Examples
The 1850-D Liberty Head Quarter Eagle and its counterpart from 1851 saw heavy circulation. Unfortunately, very few Mint State examples of these coins exist today. This scarcity can be attributed to several factors:
Factors Affecting Survival
- Low Number of Coin Collectors: In the 1840s and 1850s, the number of active coin collectors in the United States was very low, totaling only in the hundreds.
- Lack of Interest in Mintmarks: At that time, few collectors were interested in mintmarks, a trend that only gained popularity in the 1910s and 1920s.
- High Purchasing Power: In 1850, a $2.50 gold coin had the same buying power as over $100 today, making it accessible only to the wealthy.
Due to these factors, any 1850-D Liberty Head Quarter Eagle that survived to the 1930s in Mint State did so by pure chance.
Condition of Surviving Coins
Most surviving 1850-D Liberty Head Quarter Eagles are found in Extra Fine or About Uncirculated condition. Many of these coins have undergone cleaning to remove dirt and patina. Unless they have been abrasively cleaned, they may receive a straight grade without any mention of past cleaning. Coins with their original skin are extremely rare.
Population Estimates
David Akers, a noted numismatist, estimated that only 61 pieces of the 1850-D Liberty Head Quarter Eagle survived as of 1975. Since then, more examples have surfaced. The Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC) report a combined certified population of over 200 pieces in grades AU50 and above. However, no coin has been graded finer than MS63.
Market Data and Notable Specimens
The auction records and grading data for the 1850-D Liberty Head Quarter Eagle provide a glimpse into its market performance and collector interest.
Grading and Population Data
- Top Population:
- PCGS MS62: 4 (as of October 2024)
- NGC MS63: 2 (as of October 2024)
- CAC MS61: 2 (stickered, graded as of October 2024)
Noteworthy Auction Results
- PCGS MS62 #33155352:
- Sold for $18,800 at the Joseph Freedberg Collection auction.
- Upgraded from NGC MS61.
- Features a diagonal planchet void in the lower left obverse field.
- PCGS MS62 #50043495:
- Sold for $23,500 at Heritage Auctions.
- Has a fingerprint-shaped discoloration in the lower right obverse field.
- PCGS MS62 #5029422:
- Sold for $27,600 at Heritage Auctions.
- Notable for a dark smudge to the left of Liberty’s lips.
- NGC MS61+ #3601051-006:
- Sold for $11,750 at Heritage Auctions.
- Displays discoloration on the left obverse field.
- PCGS MS61 CAC #14983218:
- Sold for $28,800 at the A.J. Vanderbilt Collection auction.
- Previously sold for $800 as “Brilliant Uncirculated.”
- NGC MS61 #302714-013:
- Sold for $17,250 at Heritage Auctions.
- Features copper toning around the date.
Analysis of Auction Data
While auction data provides valuable insights into the market for the 1850-D Liberty Head Quarter Eagle, it also presents limitations. Many pre-2000 pedigrees are not recorded, and linking coins with Doug Winter’s Condition Census remains incomplete. Efforts will be made to improve this in future updates.
Conclusion
The 1850-D Liberty Head Quarter Eagle is a fascinating coin with a rich history tied to the Dahlonega Mint. Its rarity and historical significance make it a coveted piece for collectors. The combination of low mintage numbers, limited interest in mintmarks at the time, and the high purchasing power of the coin contribute to its scarcity today. Surviving examples, often found in less-than-perfect condition, tell a story of their circulation and the economic landscape of the time.
Understanding the market data, notable auction results, and the factors affecting the survival of these coins helps collectors and enthusiasts appreciate the 1850-D Liberty Head Quarter Eagle even more. As the numismatic community continues to explore these historical treasures, further discoveries about their population and significance are sure to emerge.
FAQs
Q1: What is a Liberty Head Quarter Eagle?
A1: The Liberty Head Quarter Eagle is a gold coin with a face value of $2.50, first minted in the United States in 1840. It features a portrait of Lady Liberty on the front and an eagle on the back.
Q2: Why is the 1850-D Liberty Head Quarter Eagle significant?
A2: The 1850-D version is notable because it had a limited mintage and is considered rare. Many of these coins were heavily circulated, leading to a smaller number of Mint State survivors.
Q3: What factors contributed to the low number of surviving 1850-D Liberty Head Quarter Eagles?
The small number of coin collectors in the 1840s and ’50s.
Most collectors weren’t focused on mintmarks until later years.
The coin’s high value made it accessible mainly to the wealthy.
Q4: What condition are most surviving 1850-D Liberty Head Quarter Eagles in?
A4: Most of the surviving coins are found in Extra Fine or About Uncirculated condition. Many have been cleaned to remove dirt and patina, which makes coins with their original skin rare.
Q5: How many 1850-D Liberty Head Quarter Eagles are estimated to exist?
A5: In 1975, numismatist David Akers estimated that about 61 pieces survived. However, recent reports show a combined certified population of over 200 pieces graded AU50 and above.