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Basis: gold @ $1,297.12 -- Updated: 09/22/2017
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The smallest gold coins ever produced by the U.S. Mint, Gold Dollars are often overlooked. In near-gem Mint State 64 condition, they combine exceptional scarcity, a fascinating design, and very low prices.
Low prices, good value
Minted from 1856 to 1889, Type III $1 Indian Head gold coins were produced in relatively limited numbers and almost all were heavily used as currency or melted down during the Depression. Only 6,262 survivors are known in near-gem Mint State 64 condition (PCGS + NGC, 9/18/2017). Despite their true scarcity, they are an excellent value right now.
During periods of high demand, Type III Gold Dollars in MS64 have skyrocketed in price because of their exceptional scarcity and collector interest. In 1989, during the last rare coin boom, they traded dealer-to-dealer for more than $4,250.
Usually known as the Indian Large Head or Indian Princess design, Type III gold dollars were created by James B. Longacre, Chief Engraver for the U.S. Mint from 1844 until his death in 1869, on the model of his classic $3 Princess gold coin design. Historians now believe his model for both designs was a Roman marble sculpture of "Crouching Venus" on display at the Philadelphia museum, to which he added the distinctive Indian feathered headdress. The reverse depicts a wreath of tobacco, wheat, corn, and cotton. This was the last real gold dollar struck for regular issue.
• Only 6,262 coins survive in certified MS64. Historically, this true scarcity can mean increased premiums in a rising gold market.
• Dealer-to-dealer high of $4,250 in 1989. Combines very low prices with excellent upside potential.
• Private, liquid, and secure. Unlike most forms of gold bullion, they are exempt from broker reporting requirements.
$1 Indian, Type III (MS64)
Minted: 1856 to 1889 (dates our choice)
oz. pure gold
Size: 15 mm, reeded edge
Weight: 1.672 grams