GOLD DOLLAR 1856-1889 Indian, Large Head
Description
In an attempt to eliminate problems of striking in previous dollar coins, Longacre redesigned the gold dollar. But, because of the size, which was small and unpopular for that reason, this was the last gold dollar produced.
The Indian princess style of Miss Liberty was continued, but in the new version the relief is lower and the details are different. Changes were also made in the reverse wreath. The result was a coin which indeed could be struck properly, with the result that gold dollars of the Type III design usually are well struck in most areas, including the central two digits of the date. The Type III or Large Head motif was produced continuously from 1856 through 1889, although during and after the Civil War, mintages were exceedingly low for all years except a few. In 1875 when just 400 business strikes and 20 Proofs were struck.
The type set collector can easily locate examples of the more plentiful dates in desired grades from Very Fine to AU. Uncirculated pieces are scarce, and superb Uncirculated are scarcer yet, although a flurry of investment and speculative activity which occurred among jewelers and numismatists during the 1879-1889 years resulted in the survival of more Uncirculated specimens of these dates than would otherwise have been the case.
Valuation
Proofs were minted of various Philadelphia Mint dates, with those struck from 1884 through 1889 being produced in relatively large quantities. Examples are fairly scarce today, however.
- COIN NAME
- GOLD DOLLAR 1856-1889 Indian, Large Head
- DESIGNED BY
- James Barton Longacre
- ISSUE DATE
- 1856-1889
- COMPOSITION
- 0.900 part gold, 0.100 part copper
- DIAMETER
- 15 mm
- WEIGHT
- 25.8 grains
- EDGE
- Reeded
- BUS MINT
- 5,327,363
- PROOF MINT
- 8,700 (estimated)
The statements made on this website are opinions only. Past results are no guarantee of future performance or returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same depending on a variety of factors. Lear Capital, Inc. cannot guarantee, and makes no representation, that any metals purchased will appreciate at all or appreciate sufficiently to make customers a profit. Lear is a retail seller of precious metals and its buyback (or bid) prices are lower than its sell (or ask) prices. Metals must appreciate enough to account for this difference in order for customer to make a profit when liquidating the metals. Lear does not provide financial advice or retirement planning services. The decision to purchase or sell precious metals, and which precious metals to purchase or sell, are the customer’s decision alone, and purchases and sales should be made subject to the customer’s own research, prudence and judgment.