1886 Large Head Indian Princess Gold Dollar

1886 Indian Princess Large Head gold dollars represent one of the most popular pre-1933 U.S. gold coin types. These pieces are primarily collected as a type coin, though a few hobbyists with deep pockets attempt to collect this series by date, which can be a challenging endeavor indeed, given the scarceness of some issues. While the gold dollar circulated widely in commerce during the late 1840s, 1850s, and early 1860s, by the 1880s the gold dollar was made in much smaller numbers; many of those that were made fell into the hands of hoarders. Thus, many of these classic gold coins survive in better grades. By some accounts, most of these survivors are uncirculated coins.

1886 gold dollars were produced at the Philadelphia mint as business strikes and proofs. Below is a glance at the mintages and values of these classic gold coins:

• 1886, 5,000; $416

• 1886 proof, 1,016; $5,000

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

1886 gold dollar coins measure 15 millimeters in diameter, weigh 1.672 grams, and contain 0.04837 ounces of gold. These small gold coins are affordable, especially as compared to larger gold coins such as $10 eagles and $20 double eagles. The caveat here is that the numismatic premiums on many gold dollars are quite high in relation to the spot value of these coins. Therefore, they may not make the best buys for bullion investors who are looking for “cheap” gold.

United States Mint Chief Engraver James B. Longacre designed 1886 gold dollars. During his tenure as chief engraver, a role he served from 1844 through 1869, he designed many popular U.S. coins, including the Flying Eagle cent (struck during 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).