1871 Large Head Indian Princess Gold Dollar

1871 Indian Princess Large Head gold dollars are popular among coin collectors who specialize in pre-1933 U.S. gold coins. While 1871 gold dollar coins are scarce, there are enough available to meet current demand. By and large, 1870s gold dollars were minted in much smaller numbers than their earlier counterparts from the late 1840s, 1850s, and early 1860s, during the height of the Gold Rush era in California. While many gold dollars experienced heavy circulation (and, thus, saw much wear), thankfully these small gold coins – just 15 millimeters in diameter – were often given as holiday gifts and therefore saved in small quantities. Some still survive in the higher circulated grades, and some even exist in uncirculated condition.

1871 gold dollar coins were struck only at the Philadelphia mint, though they were made as both business-strike coins and also proof specimens. Here is a rundown on the mintages and values of these coins:

• 1871, 3,900 minted; $673

• 1871 proof, 30; $10,000

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

1871 gold dollar coins are small not just in terms of their 15-millimeter diameter, but also in regards to their overall gold content. While many bullion investors may think any gold coins are worthy of buying for their portfolios, the gold dollar is not the best way to buy physical gold. They have high numismatic premiums and, thus, cost much more to buy than their intrinsic spot value. In fact, gold dollar coins weigh only 1.672 grams and contain just 0.04837 ounces of gold, yet often cost $100 over spot value or more. These pre-1933 gold coins are therefore relatively more expensive than larger gold denominations such as $10 eagles and $20 double eagles.

1871 gold dollar coins were designed by James B. Longacre, who served as the United States Mint Chief Engraver during the years 1844 through 1869. During his tenure with the Mint, Longacre designed many important U.S. coins, including the Flying Eagle cent (produced 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).