Lot 4522
1854 $1 Gold Indian. PCGS graded MS-65 PQ. A lovely well struck Type 2 gold dollar. Old green holder. This is a nearly blemish-free case in point of the 1854 Type 2 in this Gem quality grade: sleek gold in color, with mint bloom that grabs hold of the full effect of the careful preservation since it was made. The only mark seems to be a tiny one at Liberty's brow. In winding this part of the description up, we are pleased to see also a strike faithful to every detail from a full blow by the dies, with marvelously crisp detail found at hair and feathers, the wreath and bow. Even the tiny letters in LIBERTY on the headband are clearly distinct.
Upon receiving his post to Mint Director in 1853, Colonel James R. Snowden readied plans to change the gold dollar that Chief Engraver James B. Longacre had designed in 1849. To this end, he had Longacre increase the diameter from 13 to 15 millimeters and reduced the thickness of the planchets proportionately. At the same time, he had Longacre redesign both the obverse and reverse devices. The chief engraver utilized his replica of the marble Venus Accroupie from the three dollar gold piece. The head is in higher relief than it should be, which caused problems. The wreath of corn, cotton, maple, and tobacco that Longacre would in due course immortalize on the Flying Eagle cent also made the move from the three dollar gold piece to the new gold dollar. Once the Treasury Department agreed to the new design, coinage began on August 19, 1854. After two years of production at Philadelphia and token outputs at the branch mints that extended into 1856, Longacre was instructed to rework the denomination and created the flatter-style Type 3 gold dollar. Pop 50; 11 finer, 9 in 66, 2 in 67 (PCGS # 7531) .
Estimated Value $33,000 - 36,000.
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