1866 Large Head Indian Princess Gold Dollar

1866 Indian Princess Large Head gold dollars are relatively scarce collectible coins that are most often bought by numismatists who enjoy pre-1933 U.S. gold coins. These gold dollar coins circulated most extensively in the West, where gold was found in particular abundance during the Gold Rush heyday of the 1840s, 1850s, and 1860s.

While the United States Mint branch locations struck many gold coins in the latter 19th century, only Philadelphia made 1866 gold dollar coins. Here is a look at the mintages and values of these gold coins:

• 1866, 7,100 minted; $791

• 1866 proof, 30; $10,000

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

While gold dollars served an important role in commerce, they were also quite commonly given as holiday gifts, which is one reason some 1866 gold dollar coins are still obtainable in high grades, including uncirculated condition. Many of these gold coins ended up being incorporated into jewelry. That’s why some gold dollar coins have extensive damage on their edges and rims, which are most susceptible to nicks and bruises imparted during the process of being encased in jewelry elements.

1866 gold dollar coins are physically small in diameter and very light in weight. These coins measure just 15 millimeters in width, weigh only 1.672 grams, and contain a relatively miniscule 0.04837 ounces of gold. While they are more affordable than larger gold coins, numismatic premiums over spot on gold dollar coins are comparatively quite high. Therefore, these coins don’t make very economically efficient purchases for gold investors who are looking for low-premium bullion coins.

1866 gold dollars were designed by United States Mint Chief Engraver James B. Longacre. He designed many other low-denomination United States coins during his time as chief engraver, from 1844 through 1869. These coins include 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).