The $1 Princess Gold Piece – Type 2 is one of the most distinctive small gold coins struck by the United States Mint. This short-lived design is prized today by collectors for its rarity, beauty, and place in American coinage history.
Denomination: $1 U.S. Gold
Composition: 90% gold, 10% copper
Actual Gold Weight (AGW): 0.04837 troy oz
Diameter: 15 mm (smallest diameter U.S. gold coin at the time)
Designer: James B. Longacre
Years Minted: 1854–1856 only
The Type 2 Gold Dollar was introduced in 1854, replacing the Liberty Head Type 1 design. The U.S. Mint adopted the Indian Princess Head motif by Chief Engraver James Longacre, showing Lady Liberty wearing a feathered headdress.
This design coincided with the California Gold Rush, when vast amounts of newly mined gold were flowing into the U.S. Mint. To adjust for rising demand, the Mint reduced the coin’s diameter from 13 mm to 15 mm while keeping its gold weight the same.
However, the thin planchet caused production problems. Many coins struck during this period suffered from weak strikes, especially at the centers. These difficulties, combined with public dissatisfaction with the coin’s small size, led to its replacement by the Type 3 Princess Gold Dollar in 1856.
Shortest-lived U.S. gold dollar design – only struck for three years (1854–1856).
Known for weak strikes, making well-defined examples much scarcer and more valuable.
The design reflected America’s fascination with “Native American” imagery during westward expansion.
Despite its tiny size, each coin contains nearly 1/20th of an ounce of gold.
Highly collectible today, especially in higher grades due to strike issues.
