1889 Large Head Indian Princess Gold Dollar

1889 Large Head Indian Princess Gold Dollar represent the last year of this long-running series. The gold dollar, which was first minted in 1849, had seen its heyday in the late 1840s, 1850s, and early 1860s, when hundreds of thousands of these small gold coins were made in any give year. As the Civil War emerged, production of the gold dollar fell, and soon the coin was largely eclipsed in circulation by other coins, including the silver dollar.

1889 gold dollar coins were made in relatively large quantities as compared to gold dollars from most of the 1870s and throughout the earlier portion of the 1880s. Here is a breakdown of mintages and values for the 1889 dollar:

• 1889, 28,950 minted; $390

• 1889 proof, 1,779; $5,000

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

Interestingly, numismatic scholars believe most of the surviving gold dollar coins from the 1880s actually exist in uncirculated grades. This appears to be the case due to the fact that many coin collectors and jewelers hoarded gold dollar coins, which became a trend in the late 1870s. Many of the coins withheld by jewelers were incorporated into jewelry – a fate that often resulted in inadvertent damage to the edges and rims of those coins.

As for the 1889 dollars, they were the last of a breed of coins that arose during the mid 19th century, when shortages of small coins and changing economic needs brought about several new denominations. These include the two-cent coin, silver and nickel three-cent coins, and the twenty-cent coin. All of these coins, but for the twenty-cent piece, were designed by James B. Longacre, who also designed the 1889 gold dollar. Longacre served as Chief Engraver of the United States Mint from 1844 through 1869, during which he also designed the Flying Eagle cent and Indian Head cent.