1854 Type 2 Gold Dollar Value & Price Guide (2026)

The Type 2 Gold Dollar is one of the shortest-lived designs in American coinage. It was produced for just three years, from 1854 to 1856, and the 1854 Philadelphia issue was the first year of this design. Chief Engraver James Barton Longacre enlarged the gold dollar from the tiny Type 1 size, giving it a wider, thinner planchet and a new portrait of Liberty wearing a feathered headdress. The design looked elegant on paper but struck poorly in practice, leading to its quick replacement by the Type 3 design in 1856. That brief production window makes the 1854 Type 2 a coin every gold dollar collector needs.

Quick Value Summary

Detail	Info
Item	1854 Gold Dollar, Type 2 (Indian Princess Head)
Year	1854
Category	Coins
Condition Range
VG-8 to F-12	$350 - $500
VF-20 to VF-35	$500 - $800
EF-40 to EF-45	$800 - $1,500
AU-50 to AU-58	$1,500 - $4,000
MS-62 to MS-64	$4,000 - $15,000
MS-65+	$20,000 - $288,000
Record Sale	$288,000 (PCGS MS66 CAC, Legend Auctions)
Rarity	Common (lower grades), Rare (MS65+)

The Story

The original gold dollar, the Type 1, had been in production since 1849. At just 13mm in diameter, it was the smallest coin the Mint produced, smaller than a modern dime. People complained constantly. The coins were easy to lose, hard to handle, and difficult to stack. By 1854, Congress authorized a redesign.

James Barton Longacre, who had designed the Type 1, created a new version with a larger diameter (15mm) and thinner planchet. The obverse featured Liberty wearing a feathered headdress, sometimes called the "Indian Princess" design, though the figure is clearly European in features. "UNITED STATES OF AMERICA" circles the portrait with the date below.

The problem was the striking. The thinner planchet and the higher relief of the design meant that the coins didn't strike up properly. Most 1854 Type 2 Gold Dollars show weakness in the central details, particularly on Liberty's hair and the wreath on the reverse. Fully struck examples are genuinely scarce and command enormous premiums.

The Philadelphia Mint produced 783,943 of the 1854 Type 2 Gold Dollar, a healthy mintage. But the striking issues meant that even "new" coins often looked soft. Longacre modified the design to a lower relief for the Type 3 in 1856, which solved the striking problems and remained in production until 1889.

How to Identify It

Obverse (front):

• Liberty facing left wearing a feathered headdress

• "UNITED STATES OF AMERICA" around the border

• Date "1854" at the bottom

Reverse (back):

• Wreath of corn, cotton, wheat, and tobacco

• "1 DOLLAR" within the wreath

Physical specifications:

• Diameter: 15mm (larger than the 13mm Type 1)

• Weight: 1.672 grams

• Composition: 90% gold, 10% copper

• Edge: Reeded

Distinguishing from other types:

• Type 1 (1849-1854): Smaller diameter (13mm), Liberty faces left without headdress, surrounded by 13 stars

• Type 2 (1854-1856): Larger diameter (15mm), Liberty wears feathered headdress, "UNITED STATES OF AMERICA" on obverse

• Type 3 (1856-1889): Same diameter as Type 2, but the portrait is in lower relief with a different head shape. The most common gold dollar type.

Mint marks:

• No mint mark = Philadelphia

• "D" on reverse = Dahlonega (very scarce, much more valuable)

• "S" on reverse = San Francisco (scarcer than Philadelphia)

This guide focuses on the Philadelphia issue (no mint mark), which is by far the most common.

Value by Condition

VG-8 to F-12: $350 - $500

Heavy wear with the design outline visible but central details largely flat. Given the striking weakness inherent to this type, even problem-free coins in VG-F often show soft central details. These are affordable entry points into gold dollar collecting. The Greysheet CPG value starts at about $390.

VF-20 to VF-35: $500 - $800

Moderate wear. Liberty's portrait shows some hair detail. The wreath on the reverse has partial leaf detail. Many collectors consider VF the sweet spot for this type because the inherent striking softness makes higher grades hard to distinguish from wear.

EF-40 to EF-45: $800 - $1,500

Light wear on the highest points. Some original luster may remain in protected areas. At this grade, the difference between wear and striking softness becomes important. A genuine EF coin will show luster in the fields that a VF coin won't.

AU-50 to AU-58: $1,500 - $4,000

Traces of wear on only the highest points. Substantial original luster. AU examples are desirable because they show the design as close to intended as most specimens allow. The jump from EF to AU is where prices start climbing steeply.

MS-62 to MS-64: $4,000 - $15,000

Uncirculated with no wear. The challenge: most Mint State examples still show striking softness in the central portrait, which is a manufacturing characteristic, not damage. PCGS and NGC account for this in grading. Eye appeal varies enormously in this range.

MS-65+: $20,000 - $288,000

Gem-quality examples with strong strikes are genuinely rare. A PCGS MS66 CAC example sold at Legend Auctions for $288,000, representing the pinnacle of the issue. The population at MS65 and above is very small.

Known Variations

• 1854 Philadelphia (no mint mark): 783,943 minted. The most common Type 2 gold dollar.

• 1854-D Dahlonega: 2,935 minted. Extremely rare. Values start at $5,000+ in low grades and reach six figures in higher grades.

• 1855 Philadelphia: 758,269 minted. The second Type 2 year.

• 1855-C Charlotte: 9,803 minted. Scarce Southern mint issue.

• 1855-D Dahlonega: 1,811 minted. One of the rarest regular-issue gold dollars.

• 1855-O New Orleans: 55,000 minted. Scarce.

• 1856-S San Francisco: 24,600 minted. The final Type 2 gold dollar.

Authentication & Fakes

Counterfeit gold dollars exist, particularly for the scarcer mint marks. For the 1854 Philadelphia issue:

• Specific gravity test: Gold has a distinctive density. A specific gravity test can detect base metal fakes.

• Weight check: Should be exactly 1.672 grams. Deviations suggest a problem.

• Edge examination: The reeded edge should be consistent and well-formed. Cast fakes often show irregular reeding.

• Surface characteristics: Genuine Mint-produced coins have specific die characteristics visible under magnification. Cast or spark-eroded copies lack these details.

PCGS or NGC certification is recommended for any example you plan to sell. Grading fees start at $30 for economy service, scaling up with declared value. For coins worth $1,000+, the $65-$100 regular service tier is appropriate.

Where to Sell

• Heritage Auctions: Best for MS-63 and above, where competitive bidding drives premium prices.

• GreatCollections: Strong for mid-range graded examples in the $500-$5,000 range.

• Local coin dealers: Quick sales for circulated examples. Expect 80-90% of greysheet bid value.

• eBay: Works for PCGS/NGC-certified coins. The established coin collecting community is active. Expect 13% in fees.

• Coin shows: Direct sales to collectors at major shows (FUN, ANA, Long Beach). No platform fees.

Shipping coins requires a small padded mailer with the coin secured in a flip or holder. Registered mail through USPS offers tracking and insurance up to $50,000. Cost runs $15-$30 depending on insurance level.

Not sure about the grade of yours? Upload a photo to Curio Comp for a quick assessment.

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