The Hansen Quest to acquire an example of every standard issue US coin since 1792 has added another great rarity to the cabinet of the D.L. Hansen Collection. On Tuesday evening, after an extensive bidding competition, DLRC’s John Brush was able to secure the 1849 Charlotte Mint Open Wreath Gold Dollar – graded by PCGS as MS62 – for a record-breaking price of $1.56M.
This particular coin is the finest known specimen for the date and is the single rarest, amongst all mints, Gold Dollar issue. 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 to be held in private hands. The rarity was created once the reverse design was declared unsatisfactory by Mint Director Robert Patterson. The design was promptly changed, but not until the first issues were produced and subsequently rejected once viewed in-hand by the Mint Director. 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, Coins of the Charlotte Mint, 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." Continued Brush, "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 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.
About David Lawrence Rare Coins
DLRC, formerly David Lawrence Rare Coins, was founded in a spare bedroom in 1979 by David Lawrence Feigenbaum. A passionate collector his entire life, Feigenbaum made the jump to dealing when his collecting desires surpassed his limited professor’s budget. After David passed away from a long battle with ALS (Lou Gehrig’s Disease), his son John Feigenbaum took the reins and oversaw the company’s growth until 2015. That August, Feigenbaum became the Publisher of CDN Publishing and passed operations to John Brush. Mr. Brush, with prominent collector Dell Loy Hansen, purchased the company shortly thereafter and continued the legacy of the collector-friendly numismatic outlet.
Mr. Brush directs the company with the help of an extremely dedicated staff of 20 employees. The management team cumulatively totals over 80 years with the company, while DLRC’s numismatic team collectively offers 100+ years of experience and passion about all aspects of coin collecting. Whether the coin is $5, $50, or $5 million, they are here to serve the collector with the best quality, service, and price possible.
DLRC has handled many legendary rarities of United States numismatics, including: the finest certified 1796 No Pole Liberty Cap Half Cent, two examples of the 1894-S Barber Dime, a gem 1876-CC Twenty Cent Piece, the finest known 1901-S Barber Quarter, three of the twelve known 1870-S Seated Dollars, the finest 1849-C Open Wreath Gold $1, both examples of the famous 1854-S $5 Gold Half Eagle, the historic 1815 $5 Gold Half Eagle, one of the two known 1825/4 $5 Gold Half Eagle, and the Mickley-Hawn-Queller 1804 Proof Draped Bust Dollar. The company also helped with the assembly and sale of the $25 million Richmond Collection at three public auctions hosted in New York City and Baltimore, and are the curators of the All-Time Greatest Collection of U.S. Coins: the D.L. Hansen Collection.
DLRC is an industry leader in the exchange and auction of U.S. rare coins certified by PCGS, NGC, and CAC. The company holds weekly internet auctions and offers sellers, in addition to direct sale, the option to consign to these auctions. To work with DLRC, or for any questions as to how they can help your collection, please call 800-776-0560 or email coins@davidlawrence.com.
