Adding this common date $1 Gold Princess Type 2 coin into your collection will give you an opportunity to discuss the rich history of gold in the U.S. that dates as far back as 1799. During this year, a young boy named Conrad Reed was playing on his familyâ€™s farm in Cabarrus County, North Carolina, when he came across a gold nugget. Because the sight of gold was so rare, neither Conrad nor the rest of his family realized the true value of the nugget until years later, instead choosing to use it as a doorstop in their home. It wasnâ€™t until 1802 that Conradâ€™s father showed the nugget to a jeweler and was swiftly offered $3.50 in exchange (at the time, this equated to a one week wage for a farm laborer) which prompted him to enter into a partnership with a number of others to scour for more of the precious metal on his land.
Little Conradâ€™s discovery was only the beginning, and again, in 1829, further gold was found in North Georgia. Not only did this prompt the opening of the Dahlonega Mint, but it led to tensions between the Cherokee Indians who resided on the land and the various states who wished to remove them. The removal of the Native Americans from this area is known as the Trail of Tears. The discoveries didnâ€™t end there, either. It was, in fact, the discovery of gold in Sutterâ€™s Mill, California that forced Congress to increase the amount of the metal that was being used in U.S. coinage and on March 3 of that year they passed a legislation that would authorize the production of not only gold dollars but $20 double eagles. It was the Chief Engraver of the U.S. Mint, James B. Longacre, who was given the task of creating a design for these two coins despite certain conflicts that he had faced with Director Robert M. Patterson and Chief Coiner Franklin Peale.
On the obverse of the coin is a left-facing portrait of Lady Liberty surrounded by 13 stars that represent the original colonies of the United States. Due to the small size of the coin, the design on the reverse was kept simple and shows a wreath surrounding the inscriptions 1 DOLLAR, and the date of the coinâ€™s issue. The reverse of Type 1, designed by Longacreâ€™s assistant Peter Filatreu Cross, also contained the engraving UNITED STATES OF AMERICA close to the rim. The revision of the gold one dollar came at the same time as the authorization for a $3 coin, and this prompted the introduction of the Type 2 Gold Princess. The obverse design continues to show the figure of Liberty but with the addition of a feathered headdress that was, particularly at the time, deemed similar to that of a Native American Indian. On the reverse, however, further modifications were made by Longacre. The simple wreath as designed by Cross instead became a more complex agricultural wreath, combining produce of the North and the South. This meant that the engraving UNITED STATES OF AMERICA was removed and this would remain so for Type 3.
The diameter of the Type 2 coin is slightly larger than on Type 1, but the thickness was reduced so that the weight remained the same. This Type suffered from poor strikes, meaning it had the smallest production of the three. This is why it is highly sought after by collectors today, especially those looking to complete the gold type sets. This is a common date coin meaning it is one from a year with high production. It comes in a guaranteed mint state of 64 meaning it is an uncirculated coin with moderate distracting marks or deficiencies and is a valuable one to add to your collection.
Features of the Common Date $1 Gold Princess Type 2 MS64: â€¢ Minted in the United States â€¢ Denomination: $1 â€¢ Certification: MS64 (An uncirculated coin with moderate distracting marks or deficiencies) â€¢ Reverse: An agricultural wreath encircling the denomination and the year of issue â€¢ Obverse: Left-facing portrait of an Indian Princess â€¢ Purity: .900 â€¢ Diameter: 14.3mm â€¢ Edge: Reeded