1862 Large Head Indian Princess Gold Dollar

1862 Indian Princess Large Head gold dollars are widely collected by coin hobbyists who enjoy pre-1933 U.S. gold coins. Gold dollar coins mainly circulated in the western United States, which is where gold was plentiful during the Gold Rush heyday of the 1840s and 1850s. Gold dollar coins were used extensively in commerce, though they also were favored as holiday gifts, and therefore, many of these coins were spared years of hard use in circulation and thus are often available in the better grades.

1862 marks the first year that minting of Indian Princess Large Head gold dollars would mainly begin taking place at the Philadelphia Mint, with the exception of the 1870-S dollar.

• 1862, 1,361,355 minted; $396

• 1862 proof, 35; $8,000

*Values are for coins grading Extremely Fine-40, unless otherwise noted.

As 1862 gold dollars are quite small in size, just 15 millimeters in diameter, these coins contain a relatively tiny amount of gold – just 0.04837 ounces of gold to be exact. Additionally, these coins have incredible numismatic premiums, thus it becomes apparent why these coins are so expensive considering how small they are in physical size. In fact, they commonly cost at least $100 more than their actual spot values, making them economically inefficient purchases for diehard bullion investors.

Another interesting numismatic footnote about 1862 gold dollars is that they were designed by United States Mint Chief Engraver James B. Longacre. He designed a multitude of low-denomination United States coins, including the Flying Eagle cent, Indian Head cent, two-cent piece, various silver and nickel three-cent coins, and the Shield nickel.