Lot 629
GEM 1854 $1 GOLD INDIAN TYPE II. PCGS graded MS-65. Struck from lightly clashed dies as nearly always seen, the outline of the new Indian princess design is recorded inside the wreath on the reverse from a couple of times the dies came together without a planchet between them. Blazing luster in the fields and this coin is very well struck, with only a bit of weakness on IC on the obverse, the reverse date and denomination are all sharply defined. Liberty's cheek is especially fresh, without the usual bagmarks or other handling ticks that separate most of the mint state pieces to lower grades.
What makes this coin so significant is the limited time this "Type II" design was struck, only 3 years in total. As the design change was moderate, not many were saved as the first of their kind, most were spent or otherwise non-numismatically preserved. We turn to the PCGS Population Report, which shows only 27 graded this high, with just 8 coins graded higher for the date. There are similar numbers for the other available date, the 1855 Type II. Hence, if you want a gem type set, you have to locate and secure one of these extremely rare Type II gold dollars. For decades this type coin has been sought-after, few have ever turned up in mint state, let alone as gems. With countless "common" coins bringing huge premiums these days, a numismatist would do well to examine the rarity of this important type issue, knowing full well others aren't about to show up at the grading services, and set this one aside. Fads will come and go, but a classic rarity like this 1854 type II gold dollar will always find feverish collector demand, as it always has in the past.
Estimated Value $40,000 - 45,000.
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| Realized $34,500 |
