1854 $1 Indian Head Gold Type 2 MS-62 NGC

Coin Highlights:

• Population of 482* in MS-62 at NGC.
• Mintage of 783,943.
• Contains .04837 oz of Gold.
• NGC encapsulation protects and guarantees the MS-62 condition.
• Obverse: Longacre's Indian Princess, smaller than as presented on the Type 3 dollar.
• Reverse: Denomination and date inside a wreath.
• Guaranteed by the U.S. Mint.

As the most common issue of this scarce type, this coin is an ideal choice for a type set. With prices rising drastically at the MS-63 level, and branch mint issues well north of $10,000 in this condition, this coin represents an exceptional value for the type collector. Add this Type 2 Gold Dollar to your cart today!

* Population as reported by NGC as of June 22, 2016.

Introduced in 1849 as a response to increasing Silver prices taking Silver coinage out of circulation and the influx of Gold from the California Gold rush, the Gold dollar remains the smallest coin produced for use in American commerce. After considering several designs, including an annular design to increase the coin's diminutive size, the coin was initially released in 1849 with a Liberty Head obverse, familiar from other denominations of contemporary Gold coinage.

In mid-1854, the Gold dollar was increased in diameter from 13.5 mm to 15 mm, as its small diameter made the coin easy to lose, detracting from its popularity. With the increase in diameter, the design was changed to match the then-new three-dollar coin. The reverse on the wreath was redesigned, and the Liberty head obverse was replaced with Longacre's Indian Princess design. This design was used on late-1854 and 1855 Philadelphia coins, 1855 branch mint issues, and finally for the 1856 San Francisco mintage.
The Indian Princess as seen on the Type 2 dollar was struck in high relief, leading to strike weakness on the central reverse, as the metal of the thin planchet tended to flow into the portrait during the minting process. The "LL" of "dollar" and the central digits of the date are almost universally weak on Type 2 dollars, especially on branch mint issues. As a result, the coin was redesigned again for the 1856 year, with an enlarged version of the Indian Princess design, identical to that on the $3. This design persisted through 1889, when Gold dollars ceased production.