1862 Gold Dollar - 1862 Gold $1 PCGS MS66 CAC. This superb Gem, Civil War dated 1862 Gold Dollar is tied for the second finest known at PCGS and CAC. The coin has lovely mint luster glowing within its devices. Because these devices are light gold color, and the fields are somewhat darker, it has an almost cameo effect. The presence of these colors confirms its originality. The strike is above average with full details on the ends of most of the obverse feathers, Libertys hair, the two central numerals of the date, and the ribbon knot. The surfaces are clean with no visible abrasion marks or other distractions. The CAC designation affirms the grade and indicates that the coin is a premium quality piece. 

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 showed 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. To remedy this situation, Longacre designed the Type 3 gold dollar. While the design was similar to the previous issue, Longacre lowered the relief and moved the obverse head so as not to be opposite a reverse relief area. This coin is called the Large Size or Large Head.

In 1844 Longacre 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. 

In its population report, PCGS shows 29 1862 Gold Dollars certified at the MS66 grade level with only 5 better. At CAC, as of September 2013, there are 11 confirmed in MS66 with 4 better. Only 2 percent of all PCGS and NGC certified 1862 gold dollars have received a CAC sticker.