1865 Large Head Indian Princess Gold Dollar

1865 Indian Princess Large Head gold dollars are relatively scarce collectible coins that are popular among numismatists who enjoy pre-1933 U.S. gold coins. Gold dollar coins most extensively circulated in the West, which is the region of the United States where gold was found in particular abundance during the Gold Rush heyday of the 1840s, 1850s, and, to a lesser extent, the 1860s.

Only the Philadelphia mint struck business-strike and proof gold dollars in 1865. Here is a breakdown of the mintages and values of these classic gold coins:

• 1865, 3,725 minted; $1,000

• 1865 proof, 25; $10,000

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

While they most widely served as circulating coins, gold dollars were quite trendy as holiday gifts during the middle of the 19th century. Many 1865 gold dollar coins therefore escaped heavy circulation-related wear and are often found in grades as high as uncirculated, though these well-preserved pieces are few and far between. Conversely, their use as gifts meant many gold dollars wound up incorporated into jewelry such as necklaces, bezels, and bracelets. That’s why some gold dollar coins have extensive damage, especially on the edges of the coins, which are most prone to receiving nicks and bruises during the process of being encased in jewelry elements.

1865 gold dollars are physically small coins. Measuring just 15 millimeters in diameter, they weigh only 1.672 grams and contain a mere 0.04837 ounces of gold. Because of their small size and substantial collector value, they have comparatively high premiums as compared to their spot value. Thus, bullion investors usually stay away from buying these gold coins for portfolios and instead look to gold pieces with much lower premiums over spot value.

1865 gold dollars were designed by James B. Longacre. He served as United States Mint Chief Engraver from 1844 until his death in 1869 and managed to design several noteworthy coins during his tenure at the Mint. Among these coins are the Flying Eagle cent (minted 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).