1860-D Gold Dollar (1860-D G$1) NGC MS61. Mint luster blooms within the devices of this rare branch mint 1860-D Gold Dollar coin. A couple of small scratches on Liberty’s face and light abrasion on both fields keep this coin from a higher mint state grade. While the strike is average for the central portions of the coin, it is weak on the left side, which is typical for gold dollars of this date and does not detract from the grade. Some clash marks are seen, which is also characteristic of this rare date. Alexander Hamilton’s original plan for United States coinage included a gold dollar. However, none was made until James Longacre’s design in 1849.

In 1844 Longacre became the Mint Engraver through John C. Calhoun, his friend and former Vice President of the United States. James Patterson opposed Longacre because he felt that his presence would undermine his crony Franklin Peale’s profitable and illegal medal making business that was operating within the Mint. However, despite Peale’s attempts to sabotage Longacre’s work, he was able to finish the dies for the first gold dollar, which was issued in 1849. Minted until 1854, it was a version of the Coronet type with an open wreath reverse.

The next design type for the gold dollar used the “Indian Princess” motif. The design shows the contradictory elements of a Caucasian Liberty wearing a stylized Native American headdress. James Longacre used this device in several denominations. The wreath of corn, cotton, maple, and tobacco leaves around the denomination and the date on the reverse was taken from the Flying Eagle cent.

Longacre’s Type 2 “Indian Princess,” Large Size, Broad Head design was issued from 1856 to 1889. It is a redesign of the Type 1 made necessary because the date wore out so easily that the new coins looked as if they were circulated. On the Type 2’s, the obverse relief was lowered to allow the reverse design to be struck up. Longacre did this by adapting the design of the three dollar coin.

The total mintage of dollar coins from 1857 to 1860 was smaller than the prior year (the mintage in 1856 was 1,762,936) because of a financial panic which caused high unemployment, mortgage foreclosures, bank failures and hoarding of bullion.

With a total mintage of 1,566, the 1860-D is rare in all conditions. The NGC population report shows just 64 coins certified in all grades. In MS61 there are 5 with 4 better.