1873 Large Head Indian Princess Gold Dollar

1873 Indian Princess Large Head gold dollars offer a small challenge for coin collectors, as there are two varieties of the Philadelphia business-strike issue. These two variations are based on the shape of the “3” in the date “1873.” The changes, which occurred to the dies in the during the year, created a significantly scarce issue known as the the 1873 “Close 3” coin. Later in the year, the 1873 “Open 3” issue was created, which is far more common than the earlier release.

The visual differences between the 1873 “Close 3” and “Open 3” varities are marked, but may go unnoticed by the unsuspecting non-numismatist. With the “Close 3” variety, the upper left-side serified tip of the “3” digit runs nearly on the same plane as the lower serif tip atop the “7”; on the “Open 3,” the upper-left serifed tip of the “3” is almost aligned with the base of the horizontal upper line of the “7.” Comparing a “Close 3” with an “Open 3” side by side will easily reveal the differences.

1873 gold dollar coins were struck only at the Philadelphia mint. In addition to the “Close 3” and “Open 3” varieties, there is also a proof specimen, though this piece is far more epxensive than either of the “Close 3” or “Open 3” varieties in the circulated grades. Here is a look at the mintages and values of these coins:

• 1873 Close 3, 1,800 minted; $1,083

• 1873 Open 3, 123,300; $396

• 1873 proof, 25; $15,000

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

1873 gold dollar coins are physically small in size. They have a diameter of just 15 millimeters, weigh just 1.672 grams, and contain a tiny 0.04837 ounces of gold. The gold dollar is among the least expensive pre-1933 gold coins on the market, though their per-coin premiums are proportionately much higher than for some of the larger pre-1933 gold coins, such as the $10 eagle or $20 double eagle. Many gold dollar coins are priced more than $100 over the spot value of the gold within – indeed a steep price for a small gold coin.

1873 gold dollar coins were designed by United States Mint Chief Engraver James B. Longacre. He served as the United States Mint Chief Engraver during the years 1844 through 1869 and designed many significant U.S. coins. These include the Flying Eagle cent (produced 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).