1854 Gold Dollar. Type II. MS-65 (PCGS).
Here is an elusive Gem example of the scarce Type II gold dollar, a visually stunning piece with a bold blend of light rose-gold color and billowy mint luster. Satiny in texture with remarkably smooth surfaces that are even largely free of the clash marks typically seen in examples of this type. A highly desirable specimen fit for the most sophisticated collector of U.S. gold type. The small 12.7 mm diameter of the Type I gold dollar brought about complaints of it being easy to lose, like the silver trime. To address this, Longacre enlarged the diameter to 14.3 mm for the Type II, but he also completely revised the design, replacing it with a portrait of Liberty wearing a Native American headdress resembling his design on the newly introduced three-dollar gold piece. He also moved the inscription UNITED STATES OF AMERICA to the obverse from the reverse. The reverse laurel wreath was replaced with the cereal wreath Longacre employed on the three-dollar denomination and that was later adopted for the Flying Eagle cent. Even with these design changes, challenges faced Mint personnel when striking the coins. Because the weight of the denomination remained unchanged, the coins were made slightly thinner. To further complicate matters, the dies often clashed early and frequently during press runs, and many survivors exhibit clash marks, seen faintly on the present example. Bowers estimates 90% of all 1854 Type II dollars bear such clash marks on one or both sides. The Philadelphia Mint was the only facility to produce the Type II gold dollar in 1854, striking 783,943 pieces of the new design along with 855,502 of the Type I dollars. Taken as a whole, the Type II design is by far the scarcest of the three basic types. Anywhere from 5,000 to 8,000 remain with maybe a quarter to a third in Mint State. The true rarity of the 1854 Type II gold dollars emerges at the Gem level, where only about 50 examples remain (PCGS and NGC population data is believed to be highly inflated by resubmissions). This is a superior example of the type and will fit perfectly in an advanced cabinet.
PCGS# 7531. NGC ID: 25C3.
PCGS Population: 51; 22 finer (MS-67 finest).
From the George Schwenk Collection.

Estimate: $22500