Indian Head Gold Dollar

Indian Head Gold Dollars come in two types: What is classified as the “small head” (1854-1856) and “large head” (1856-1889). Liberty heads were actually the first gold dollars, and were minted from 1849-1854. The gold dollar was the smallest smallest denomination of gold currency because of its high gold content at 90%. 

Brief History:

Small Head (1854-1856)
In 1854 the US Mint issued the redesigned gold dollar with an increased diameter of 15 mm. As planned, neither its weight nor its composition was changed. James Longacre designed a new obverse for the coin based on his work with the three-dollar piece. The head depicted on the obverse has commonly been described as an “Indian princess,” and gave this type its name. However, historians have suggested that the design is actually based on a Roman marble figure, to which a headdress was added by Longacre. More specifically, it has been suggested that he based the design on “Crouching Venus” a statue on display in the Philadelphia Museum of Art. In addition to the obverse, the reverse of the gold dollar was also modified somewhat, and the inscription “UNITED STATES OF AMERICA” was moved to the obverse. The overall wreath design remained unchanged however. In the few years of this type’s production, only six date mint mark combinations were created: 1854, 1855, 1855C, 1855D, 1855O, and 1856S. The quantities minted in total each year were 783,943 in 1854, 824,883 in 1855, and 24,600 in 1856. Although the diameter of the gold dollar had been considerably improved, the new Indian Head type was not free from problems. The height of the relief was such that very few of the coins produced were fully struck, and as a result the design was not sturdy enough for circulation. The Mint would have to redesign the gold dollar once again.
[edit]Large Head (1856-1889)
In 1856, a newly durable gold dollar was released by the Mint. Dubbed “the Large Head type,” Longacre’s new design was very similar to that of the Small Head type, but the size of the Indian head on the obverse increased, while at the same time it became more flat. The headdress changed location as well, and the details of the face were slightly altered. The new type was minted continuously at Philadelphia, but in certain years quantities were also produced at Charlotte, Dahlonega, and San Francisco. In addition, proofs were minted at Philadelphia from 1859 on. The quantity of proofs minted each year ranges from an estimated 15 in 1856 to 1,779 in 1889. In total, the quantity of coins minted each year ranges from 420 in 1875 to 1,764,396 in 1856. Although regular production of the gold dollar was discontinued in 1889, commemorative issues were struck in 1915 and 1922, honoring the Panama Canal and President U.S. Grant respectively. Gold dollars continued to circulate in some areas until the country abandoned the gold standard in the early 1930s.

 Small Head (1854-1856)

In 1854 the US Mint issued the redesigned gold dollar with an increased diameter of 15 mm. As planned, neither its weight nor its composition was changed. James Longacre designed a new obverse for the coin based on his work with the three-dollar piece. The head depicted on the obverse has commonly been described as an “Indian princess,” and gave this type its name. However, historians have suggested that the design is actually based on a Roman marble figure, to which a headdress was added by Longacre. More specifically, it has been suggested that he based the design on “Crouching Venus” a statue on display in the Philadelphia Museum of Art. In addition to the obverse, the reverse of the gold dollar was also modified somewhat, and the inscription “UNITED STATES OF AMERICA” was moved to the obverse. The overall wreath design remained unchanged however. In the few years of this type’s production, only six date mint mark combinations were created: 1854, 1855, 1855C, 1855D, 1855O, and 1856S. The quantities minted in total each year were 783,943 in 1854, 824,883 in 1855, and 24,600 in 1856. Although the diameter of the gold dollar had been considerably improved, the new Indian Head type was not free from problems. The height of the relief was such that very few of the coins produced were fully struck, and as a result the design was not sturdy enough for circulation. The Mint would have to redesign the gold dollar once again.

Large Head (1856-1889)

In 1856, a newly durable gold dollar was released by the Mint. Dubbed “the Large Head type,” Longacre’s new design was very similar to that of the Small Head type, but the size of the Indian head on the obverse increased, while at the same time it became more flat. The headdress changed location as well, and the details of the face were slightly altered. The new type was minted continuously at Philadelphia, but in certain years quantities were also produced at Charlotte, Dahlonega, and San Francisco. In addition, proofs were minted at Philadelphia from 1859 on. The quantity of proofs minted each year ranges from an estimated 15 in 1856 to 1,779 in 1889. In total, the quantity of coins minted each year ranges from 420 in 1875 to 1,764,396 in 1856. Although regular production of the gold dollar was discontinued in 1889, commemorative issues were struck in 1915 and 1922, honoring the Panama Canal and President U.S. Grant respectively. Gold dollars continued to circulate in some areas until the country abandoned the gold standard in the early 1930s.

Source (History): Wikipedia