1870 G$1 (1870 Gold Dollar) NGC PF63. Pitman Collection. Proof One Dollar Gold. This rare, proof 1870 Gold Dollar comes with the provenance of the famous John Jay Pittman collection. The coin shows lustrous devices set against dark fields creating an almost cameo appearance. The strike is fully detailed on both sides, as expected for a proof coin. Of course, no wear is found on the coin in keeping with the grade.

In 1830 James B. Longacre, the coins designer, and James Herring made plans to do a series of biographies of famous men in the military and in politics. This project became the National Portrait Gallery of Distinguished Americans in four volumes that was first published in 1834. This set of books brought great fame to Longacre and those who worked with him. In 1844, through the influence of John C. Calhoun, Longacre was made Chief Engraver at the Mint, where he succeeded the late Christian Gobrecht. Longacres experience was limited, but he was a talented artist. By 1849 he was able to create the gold dollar and double eagle, the design of which lasted until well into the twentieth century. Longacre was responsible for creating many designs including the Liberty Head dollar and double eagle, the Indian Princess gold dollar and three dollar pieces, the two cent piece, the shield nickel, many five cent pattern pieces, and the Indian head cent. His dies were used on hundreds of trial pieces and pattern coins.

The so called Indian Princess Head Gold Dollar minted from 1854 to 1889. The first, which is actually Type 2 because of a prior Liberty Head, was issued until 1856. The second Indian Princess Gold Dollar, Type 3, was minted from 1856 to 1889.
The Type 2 coin 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 this 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 Gold Dollar is called the Large Size or Large Head.

The 1870 proof gold dollar had an original mintage of 35 pieces. It is scarce in any condition. In its population report, NGC has 2 1870s at PF63 with none better. In PFCA there is 1 in 63 with 2 better.