DLRC and D.L. Hansen Complete Charlotte Gold Collection

The Hansen Quest to acquire an example of every standard-issue U.S. coin made since 1792 has added another great rarity to the cabinet of the D.L. Hansen Collection. On Tuesday, January 14, after an extensive bidding competition, DLRC’s John Brush secured the 1849 Charlotte Mint Open Wreath Gold Dollar–graded MS62 by PCGS–for a record-breaking price of $1.56 million. This particular coin is the finest known specimen for the date and is the single rarest Gold Dollar issue amongst all mints. The issue has been referred to as the “King of Southern Gold Coins” and is without rival in this title.

Considered by most experts as the most underrated of the Gold Dollars, this issue experienced an incredibly limited estimated mintage of just 125 coins, with likely only five known held in private hands. The rarity was created once the reverse design was changed, but not until the first issues were produced and subsequently rejected once viewed in-hand by Mint Director Robert Patterson. This limited mintage and rarity illustrates exactly why this issue appears so infrequently in private transactions or with other auction appearances. The list of numismatists who have owned an example of this coin is obviously very short. An article by Heritage notes: “Without obtaining an 1849-C Open Wreath, no specialized branch mint or Guide Book collection can be considered complete. This issue is so rare that even Harry Bass failed to obtain an example, in addition to Louis Eliasberg and Norweb.”

The addition of the 1849-C Open Wreath Gold Dollar completes the entire collection of Charlotte Gold coins for the D.L. Hansen Collection. This marks the first time that a collector has ever completed such a set of this quality, with the PCGS Registry Set displaying the Hansen Collection as the only complete set of Charlotte Gold issues. This monumental feat, according to Doug Winter’s book Gold Coins of the Charlotte Mint (2008), has only been accomplished by two to three previous collectors, none of whom have owned an uncirculated example of this elusive date.

According to John Brush, President of DLRC and Curator of the D.L. Hansen Collection:

“The opportunity to acquire this elusive rarity was the cherry on top of this fantastic collection. Having grown up less than two hours from the original Charlotte Mint, these issues have always held a special interest for me. Mr. Hansen and I have worked very hard to build and improve this set, as opportunities have arisen, and I’m truly ecstatic that we were able to conclude this set by acquiring this special coin.”

Hansen, assisted by John Brush of DLRC, has been on a mission for the past eight years to put together the first privately held coin collection of items from 1792 to Present. The “Eliasberg Quest”, as they call it, has been an incredible challenge for the duo, and this legendary rarity is one of the final stops on the way to completion. According to the PCGS Registry Set calculations, the collection put together by Hansen has already surpassed the overall quality and completion percentage of the historic Louis Eliasberg Collection.

In recent months, Brush and Hansen have been in the process of crossing over many of the pieces from the Charlotte Gold collection to CAC Grading. This effort, and their recent push to add the collection to the CACG Registry, has been a culmination of years of work acquiring and cultivating the set. Pieces of the collection are regularly displayed at DLRC and CACG’s tables at major numismatic conventions throughout the United States.

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