1881 Large Head Indian Princess Gold Dollar

1881 Indian Princess Large Head gold dollars are collected by those who generally pursue pre-1933 U.S. gold coins. Gold dollar coins from 1881 are scarce in the absolute sense, but more common than most of the gold dollar coins minted anytime during the previous decade. Interestingly, a large fraction of the surviving 1881 gold dollar coins are found in uncirculated condition, which is owes to the fact that gold dollars were hoarded in large numbers by collectors and jewelers beginning in the late 1870s.

1881 gold dollar coins were produced at the Philadelphia mint as both business strikes and proof coins. Here is a glance at the mintages and values of these gold coins:

• 1881, 7,620 minted; $470

• 1881 proof, 87; $5,000

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

1881 gold dollar coins have a diameter of just 15 millimeters, weigh 1.672 grams, and contain a tiny 0.04837 ounces of gold. These metrics mean the Indian Princess Large Head gold dollar coin is among the smallest coin types the United States ever made. Their small size makes them rather affordable in terms of their absolute cost as compared to other (read, “larger”) pre-1933 U.S. gold coins. However, their numismatic premiums are much higher as compared to spot than other gold coins, with many 1880s gold dollars costing more than $100 over spot price.

1881 gold dollar coins were designed by James B. Longacre, who notably served as the United States Mint Chief Engraver from 1844 through 1869. Longacre designed many coins during his tenure at the U.S. Mint, including 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).