1864 Large Head Indian Princess Gold Dollar

1864 Indian Princess Large Head gold dollars are scarce collectibles that are popular among coin hobbyists who prefer pre-1933 U.S. gold coins. Gold dollars primarily circulated in the western United States, which is where gold was found in abundance during the Gold Rush heyday of the 1840s and 1850s.

While many branch mints struck gold coins in the 1860s, the 1864 gold dollar coins were minted at only the Philadelphia mint. Both business-strike and proof examples were made. What follows is a breakdown of the mintages and values of these coins:

• 1864, 5,900 minted; $1,082

• 1864 proof, 50; $10,000

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

In addition to serving as circulating coins, gold dollars were also popular as holiday gifts. Many 1864 gold dollars therefore were spared heavy circulation wear and can sometimes be found in uncirculated condition. Some of these coins wound up as centerpieces in jewelry such as necklaces and bracelets. That’s why several gold dollar coins have extensive damage on their rims and edges.

1864 gold dollar coins are small. They measure just 15 millimeters in diameter, weigh only 1.672 grams, and contain just 0.04837 ounces of gold. Given their small size and substantial collector value, they have comparatively high premiums as compared to their spot value and thus aren’t the best purchases for bullion investors who are looking to buy low-premium gold coinage.

1864 gold dollars were designed by James B. Longacre, who served as United States Mint Chief Engraver from 1844 until his death in 1869. He also designed many other low-denomination United States coins originating in the mid 19th century, including the Flying Eagle cent (minted from 1856-1858), Indian Head cent (1859-1909), two-cent piece (1864-1873), various silver and nickel three-cent coins (1851-1889), and the Shield nickel (1866-1883).