1854 Gold Dollar. Type II. MS-65 (NGC). Here is an elusive Gem example of the scarce Type II gold dollar, a visually stunning piece with a warm blend of apricot and honey-gold shades throughout. Strong prooflike reflectivity glimmers in the fields and dramatic evidence of die clashing surrounds the central elements. A desirable and new-to-market specimen fit for the most sophisticated collector of U.S. gold type. Only eight coins rank finer at NGC.<br /><br /><br />The small 12.7 mm diameter of the Type I gold dollar brought about complaints of it being easy to lose, like the silver trime. To address this, Longacre enlarged the diameter to 14.3 mm for the Type II, but he also completely revised the design, replacing it with an Indian head with a crown of feathers resembling his design on the newly introduced three-dollar gold piece. He also moved the inscription UNITED STATES OF AMERICA to the obverse from the reverse. The reverse laurel wreath was replaced with the cereal wreath Longacre employed on the three-dollar denomination and that was later adopted for the Flying Eagle cent.<br /><br />Even with these design changes, challenges faced Mint personnel when striking the coins. Because the weight of the denomination remained unchanged, the coins were made slightly thinner. To further complicate matters, the dies often clashed early and frequently during press runs, and many survivors exhibit numerous pronounced clash marks as seen on the present example. Bowers estimates 90% of all 1854 Type II dollars bear such clash marks on one or both sides.<br /><br />The Philadelphia Mint was the only facility to produce the Type II gold dollar in 1854, striking 783,943 pieces of the new design along with 855,502 of the Type I dollars. Taken as a whole, the Type II design is by far the scarcest of the three basic types. Anywhere from 5,000 to 8,000 remain with maybe a quarter to a third in Mint State. The true rarity of the 1854 Type II gold dollars emerges at the Gem level, where only about 50 examples remain. This is a superb example of the type and will fit perfectly in the finest cabinet.<p></p> From the Dr. Paul and Rosalie Zito Collection.
