1862 Gold Dollar Type 3 (1862 One Dollar Gold) NGC MS66 CAC. The United States Mint started production of the nations smallest gold coin in 1849. When it was first produced, the $1 gold coin was a measly 13 millimeters in diameter, more than smaller than the present day Roosevelt dime. The undersized coin angered many Americans who had a hard time keeping track of the $1 coin. Losing a dollar in 1849 was no small matter, because $1 was often equivalent to a days pay. The United States Mint listened to the public, and in 1854, the Mint took steps to remedy the issue. Without increasing the weight of the coin, the diameter was increased from 13 millimeters to 15 millimeters. The revamped coin was considerably larger and noticeably thinner, therefore less likely to become lost. This new Type II coin as it was deemed was not without its problems. Chief Mint Engraver James Barton Longacre had designed the relief on the obverse too high and most of the coins were not fully struck and virtually all of the coins wore down in circulation, turning into dateless gold discs.

In 1856, a last resort effort was made to produce a quality $1 gold coin, when Longacre returned to the drawing board to rethink the design. Longacre had decided to make the portrait on the obverse larger but also flatter.

The final design of the $1 gold coin is commonly referred to as the Type III Indian Princess Head $1 gold coin. The obverse features the portrait of an Indian Princess, research suggests, however, that this name may be erroneous: Walter Breen, a world renowned Numismatist and author, maintained that the head is actually a copy of a Roman marble figure, with the headdress - which Longacre added - being the only aspect that conceivably might be Indian in nature.

Production of the $1 Indian Princess Head topped one million pieces in 1862. Type III gold dollars are far more plentiful in mint state condition than the other two types, due to the perfected design which prohibits wear.

The coin that is displayed for your viewing pleasure is a magnificent one. This 1862 Type III gold dollar is graded MS-66 by NGC and the grade is verified by the Certified Acceptance Corporation, (CAC). CAC Pop. Reports show 5 coins verified for this date and grade, with only 1 example being verified at a higher grade. This coins flawless surfaces and gleaming gold color are exceptional and would make the perfect centerpiece in any collection.