1881 Gold $1 (1881 Gold Dollar) PCGS MS67 CAC. But for a light nick on Liberty’s cheek, this superior 1881 Gold Dollar would probably graded better than MS68. It is tied for second finest known at PCGS in MS67. Encapsulated in an OGH, old green holder, the coin has pristine surfaces. Its CAC sticker confirms the grade and indicates that the piece is of premium quality within the grade range. Bright mint luster dances on both sides of the coin. The strike is above average with a bold LIBERTY on the obverse and full details on the ribbon knot and the two central numerals of the date.

James B. Longacre designed the dollar gold coin after making his three-dollar piece. He used the Indian Princess motif, which is a beautifully modeled classical head wearing a feathered tiara. The reverse has a wreath made of corn, wheat, cotton, and tobacco enclosing the denomination and date. Both sides have dentils around the periphery.

Longacre was born in Pennsylvania in 1794. He became an apprentice to a bookseller and then a banknote engraver in Philadelphia. In 1819 he worked on his own as an engraver and made metal plates for bank notes and book illustrations. His works included one on stage personalities and another on the signers of the Declaration of Independence. In 1830 Longacre 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. Longacre’s 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. One of Longacre’s associates, Chief Coiner Franklin Peale, opposed Longacre’s appointment and became an obstructionist. Peale ran a lucrative, private medal-making business using Mint facilities, and he felt that Longacre’s presence would jeopardize it. In 1854 Peale was fired by President Franklin Pearce, and Longacre’s life became easier. Longacre remained Chief Engraver until his death in 1869. Coins from Longacre’s estate were auctioned in 1870. They included patterns, coins of Chile, and regularly issued coins.

In discussing the Indian Princess motif, Longacre said that he was face with greater difficulties than he had thought he would have. The strongest objection was from those who advocated Greek and Roman models. To this objection Longacre replied, “Why not be American from the spring-head within our own domain? ...From the copper shores of Lake Superior to the sliver mountains of Potosi, from the Ojibwa to the Araucanian, the feathered tiara is a characteristic of the primitiveness of our hemisphere, as the turban is of the Asiatic…. Nor is there anything in its decorative character, repulsive to the association of Liberty, with the intelligent American: to us it is more appropriate than the Phrygian cap; rather the emblem of an emancipated slave, than of the independent freeman….”

In its population report, PCGS shows 37 1881 gold dollars in MS67 with one MS67+, and none better. As of December 2011, CAC has confirmed 12 in MS67 with 16 better.