1854 Gold Dollar Type 2 NGC MS61 - 1854 Gold $1.00 Type 2, NGC MS61. This Mint State, first-issue-of-type 1854 Gold Dollar has original mint luster remaining in protected areas. The strike is above average with some of the strands of hair below the coronet complete as well as the lines in the tips of the feathers. Typical weakness is seen on the 8 of the date, but the bow knot is strong, which is unusual for the issue. Greenish gold and a delicate rose-gold are seen on both sides of the coin. These colors attest to the pieces originality. The surfaces are clean for the grade with no notable abrasion marks or other distractions.

The so called Indian Princess Head gold dollar was designed by James Longacre and minted from 1854 to 1889. The first, which is actually Type 2 because there was a prior Liberty Head gold dollar, was issued until 1856. The second Indian Princess gold dollar, Type 3, was minted from 1856 to 1889.

The Type 2 gold dollar shows a head of Liberty facing left wearing a stylized feathered headdress. It is inscribed LIBERTY on the headband. She is surrounded by the legend UNITED STATES OF AMERICA. The reverse shows an open wreath of corn, cotton, maple, and tobacco tied below with a bow. The wreath encircles the denomination, 1 DOLLAR, and the date. The problem with the coin was that it did not strike up well. In fact mint state examples looked worn and, in some cases, so circulated that the date could not be read on the coin. This problem most affected the branch mint issues, which Longacre did not get to see until afterwards. The proofs that he saw did not have this as a problem.

James B. Longacre designed the gold dollar. In 1844 he was appointed Mint Engraver through the influence of Senator John C. Calhoun of South Carolina. After overcoming opposition by the Chief Coiner, Franklin Peale, who was fearful that the new Engraver would interfere with his illegal medal manufacturing business using the Mint facilities, Longacre did well. He was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle.