1845-D $2.50 XF45 Certification #16117000, PCGS #7738

Doug Winter

The 1845-D quarter eagle is very similar to the 1844-D in terms of its overall rarity. However, the 1845-D is significantly rarer in high grades.

The 1845-D quarter eagle is usually seen in Very Fine and Extremely Fine grades. It is very scarce in About Uncirculated and it becomes rare in strictly graded About Uncirculated-55. This date is very rare in properly graded About Uncirculated-58 and it is extremely rare in Uncirculated.

STRIKE: This date generally shows an average quality strike for a Dahlonega quarter eagle produced during the 1840’s. On the obverse, the curls near the ear and eye of the Liberty are mostly full, though they show some weakness. The border is sharp with many of the stars displaying full radial lines. The milling is completely defined with no weakness. The reverse is a bit less well struck. The eagle’s neck and right leg are nearly always weak as are the top of the shield and the base of the claws. The border is sharp and the milling is full.

SURFACES: The 1845-D quarter eagle is often found with noticeable marks on the surfaces. These are usually very detracting. Interestingly, most of the higher grade examples of this date I have seen have very obvious marks which significantly reduce their eye appeal (and subsequent value).

LUSTER: The luster on high grade examples is slightly subdued and it shows a somewhat grainy texture. It is not as good as that seen on the 1843-D or 1844-D quarter eagles.

COLORATION: Uncleaned, original 1845-D quarter eagles have light to medium green-gold coloration. This is among the hardest issues from the 1840’s to locate with original color. This was even true before the current mania for bright and shiny branch mint gold coins began in the 1990’s.

EYE APPEAL: Most 1845-D quarter eagles show poor eye appeal. This is primarily due to the fact that so many have serious marks and subdued luster. Locating a high grade example with good eye appeal is extremely difficult.

DIE VARIETIES: Only one die variety is known.

Variety 6-I: On the obverse, the 18 in the date shows light repunching. The 1 is very close to the bust and the denticles while the 5 is equally spaced between the bust and the denticles. The reverse is the same as described for 1844 Variety 5-H.

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PCGS Set Registry

The Dahlonega Mint struck 19,460 Liberty Head Quarter Eagles in 1845. This was a decent mintage for the North Georgia facility, but it paled in comparison to the 91,051 pieces struck at Philadelphia. Of the two branch mint $2.50 gold coins produced this year, the 1845-D is often overshadowed by the much scarcer 1845-O issue (#7739). Nevertheless, the 1845-D is a tough date overall but remains a logical choice for collectors assembling a set of Liberty Head Quarter Eagles that includes one coin from each mint. Two naked-eye visible varieties are noted by Doug Winter. The more common one, Winter 12-I, exhibits a left shift of the date. A survey of known examples reveals that many were struck with clashed dies and die scratches underneath the tip of the eagle’s right wing. Die Rust visible between date and star 1. Often found with a pronounced clash image on reverse.

Only One Die Variety Known

Only one die variety is currently known (Variety 6-I).

On the obverse, the "18" in the date shows light repunching. The 1 is very close to the bust and the denticles, while the 5 is equally spaced between the bust and the denticles. The reverse is the same as the one described for 1844 Variety 5-H.

Survival Estimates

Market clarity for the 1845-D Liberty Head Quarter Eagle has improved considerably since David Akers published his narrative in the landmark United States Gold Coins, An Analysis of Auction Records, Volume I (1975). At that time, Akers estimated a surviving population of just 64 pieces and noted that the date was rare above Extra Fine. Today, more than 200 examples are recorded in the PCGS Population Report. Even allowing for duplicate submissions, the extant population of 1845-D Quarter Eagles likely falls short of 350 pieces, with an estimated 250 to 300 examples that would grade out. The PCGS Condition Census tops out at MS64, which is consistent with most 1840s issues. The finest known example, recovered from the wreck of the S.S. New York, last sold at auction in 2011 for $54,625. We wrote more about that fateful shipwreck in our narrative of the 1846 Liberty Head Quarter Eagle (#7740).

1845-D Liberty Head Quarter Eagle: Physical Characteristics

This date generally exhibits an average quality strike for a Dahlonega quarter eagle produced during the 1840s. On the obverse, the curls near Liberty's ear and eye are mostly full, though they show some minor weakness. The border is sharp, with many of the stars displaying full radial lines. The milling (edge reeding) is completely defined with no weakness. The reverse is typically less well struck. The eagle's neck and right leg are nearly always weak, as are the top of the shield and the base of the claws. Despite the weakness in the central motifs, the reverse border is sharp, and the milling is full.

Surfaces and Luster

Surfaces: The 1845-D quarter eagle is often found with noticeable, detracting marks on the surfaces. Interestingly, most of the higher-grade examples I have encountered bear obvious marks that significantly reduce both their eye appeal and subsequent value.

Luster: The luster on high-grade examples is slightly subdued and exhibits a somewhat grainy texture. It is generally not as attractive as the luster found on the 1843-D or 1844-D quarter eagles.

Coloration and Eye Appeal

Coloration: Uncleaned, original 1845-D quarter eagles display light to medium green-gold coloration. This is among the hardest issues from the 1840s to locate with original color, a difficulty that existed even before the current widespread practice of dipping branch mint gold coins began in the 1990s.

Eye Appeal: Most 1845-D quarter eagles show poor eye appeal. This is primarily due to the combination of severe marks and subdued luster. Locating a high-grade example with good eye appeal is extremely difficult. 

 

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Charles Morgan

The Dahlonega Mint struck 19,460 Liberty Head Quarter Eagles in 1845. This was a decent mintage for the North Georgia facility, but it paled in comparison to the 91,051 pieces struck at Philadelphia. Of the two branch mint $2.50 gold coins produced this year, the 1845-D is often overshadowed by the much scarcer 1845-O issue (#7739). Nevertheless, the 1845-D is a tough date overall but remains a logical choice for collectors assembling a set of Liberty Head Quarter Eagles that includes one coin from each mint. Two naked-eye visible varieties are noted by Doug Winter. The more common one, Winter 12-I, exhibits a left shift of the date. A survey of known examples reveals that many were struck with clashed dies and die scratches underneath the tip of the eagle’s right wing. Die Rust visible between date and star 1. Often found with a pronounced clash image on reverse.

Only One Die Variety Known

Only one die variety is currently known (Variety 6-I).

On the obverse, the "18" in the date shows light repunching. The 1 is very close to the bust and the denticles, while the 5 is equally spaced between the bust and the denticles. The reverse is the same as the one described for 1844 Variety 5-H.

Survival Estimates

Market clarity for the 1845-D Liberty Head Quarter Eagle has improved considerably since David Akers published his narrative in the landmark United States Gold Coins, An Analysis of Auction Records, Volume I (1975). At that time, Akers estimated a surviving population of just 64 pieces and noted that the date was rare above Extra Fine. Today, more than 200 examples are recorded in the PCGS Population Report. Even allowing for duplicate submissions, the extant population of 1845-D Quarter Eagles likely falls short of 350 pieces, with an estimated 250 to 300 examples that would grade out. The PCGS Condition Census tops out at MS64, which is consistent with most 1840s issues. The finest known example, recovered from the wreck of the S.S. New York, last sold at auction in 2011 for $54,625. We wrote more about that fateful shipwreck in our narrative of the 1846 Liberty Head Quarter Eagle (#7740).

1845-D Liberty Head Quarter Eagle: Physical Characteristics

This date generally exhibits an average quality strike for a Dahlonega quarter eagle produced during the 1840s. On the obverse, the curls near Liberty's ear and eye are mostly full, though they show some minor weakness. The border is sharp, with many of the stars displaying full radial lines. The milling (edge reeding) is completely defined with no weakness. The reverse is typically less well struck. The eagle's neck and right leg are nearly always weak, as are the top of the shield and the base of the claws. Despite the weakness in the central motifs, the reverse border is sharp, and the milling is full.

Surfaces and Luster

Surfaces: The 1845-D quarter eagle is often found with noticeable, detracting marks on the surfaces. Interestingly, most of the higher-grade examples I have encountered bear obvious marks that significantly reduce both their eye appeal and subsequent value.

Luster: The luster on high-grade examples is slightly subdued and exhibits a somewhat grainy texture. It is generally not as attractive as the luster found on the 1843-D or 1844-D quarter eagles.

Coloration and Eye Appeal

Coloration: Uncleaned, original 1845-D quarter eagles display light to medium green-gold coloration. This is among the hardest issues from the 1840s to locate with original color, a difficulty that existed even before the current widespread practice of dipping branch mint gold coins began in the 1990s.

Eye Appeal: Most 1845-D quarter eagles show poor eye appeal. This is primarily due to the combination of severe marks and subdued luster. Locating a high-grade example with good eye appeal is extremely difficult. 

 

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