1854 $1 Gold Type 2 NGC MS62 obverse
1854 $1 Gold Type 2 NGC MS62 reverse

$ 1 Indian Gold Dollar, Type 2 NGC MS62

$2,200

Description

$1 Indian Large Head gold Dollar, Type 2, NGC MS62 (generic gold, dates will be either 1854 or 1855). NGC published value = $3,000 as of the time of this writing. You will probably receive this exact coin because we don’t get these into stock as much as we do the other generic gold denominations. In the case it’s not he same coin, the denomination, grade and price will be the same but we may offer you the other service. PayPal orders add 3%. We do not accept credit cards at this time. As we’ve been recording the Bids & Asks for Generic Gold on a daily basis, we can confidently say we’ve never seen the prices levels for the MS62 $1 Type 2 Dollar Gold at this level. Fifteen years ago you couldn’t touch one for less than $5,000-! There is some irony in calling these coins “generic” but they are required for advanced gold sets. See our website tab entitled “Gold Charts” for a much more technical graph analysis of price movement. Got one to sell? Call 630-280-7300 for the latest quotes.

History: A very powerful gold lobby and the public’s general distrust of paper currency led to the authorization of the $1 gold piece under the Act of March 3, 1849. Three main types of Gold Dollars were produced, all designed by James B. Longacre. These include:

1849-1854 Liberty Head Type
1854-1856 Indian, Small Head Type
1856-1889 Indian, Large Head Type

The first type, Type 1, was struck on small planchets and issued from 1849 to 1854 and portrayed a “Liberty” head with the denomination and date within a wreath on the reverse. In 1854, the second Type was introduced by increasing the diameter of the coin. Also, the Liberty head was abandoned in favor of a stylized female Indian head. In 1856, the Indian head was enlarged for the Type 3 Gold Dollar. Of the three types, the second is generally the scarcest, although each type does have its own scarcer dates. Gold Dollars were struck at the Philadelphia, New Orleans, Charlotte (North Carolina), Dahlonega (Georgia), and San Francisco Mints.

The 1875 Philadelphia Mint Gold Dollar has one of the lowest mintages (400 Business Strikes with 20 Proofs) of any regular issue U.S. gold coin, but it has appeared at auction more frequently than other low mintage dates, such as the 1863 (mintage 6,200). Because poor quality blanks were often used at those mints other than Philadelphia, it is particularly difficult to find attractive and well-struck branch mint Gold Dollars, particularly ones from the Charlotte and Dahlonega. Those coins that are considered very rare to extremely rare are 1849-C Open Wreath (of which only five are traced), the 1855-C and 1855-D Type 2 Gold Dollars, the 1856-D and 1861-D issues. Each of these aforementioned coins is extremely rare in About Uncirculated and virtually unheard of in uncirculated condition.