$1 Gold Type 3 MS65 CERTIFIED

In 1849, a fresh gold dollar began to be minted by the US Mint, but a significant issue emerged: its size was incredibly small, measuring just half an inch in diameter (equivalent to 13 millimeters). This diminutive stature caused a persistent predicament as the coin was frequently misplaced. During that period, losing a dollar was a substantial setback, given that it represented a full day's wages for many individuals.

Consequently, in 1854, the US Mint introduced a new iteration of the gold dollar known as the Small Head Indian Princess Head gold dollar (also referred to as the Type II gold dollar). Ironically, the Mint's response to the 13-millimeter coin predicament was a coin only 2 millimeters larger at 15 millimeters. The alteration was quite minor, just to provide context for those who may not be accustomed to the metric system. Additionally, Chief Engraver James B. Longacre encountered issues with the coin's design, resulting in a relief that was excessively elevated on the front side. This led to the production of very few well-executed coins. As a result, nearly all of the Small Head Indian Princess gold dollars rapidly deteriorated while in circulation.

Nonetheless, the third attempt proved successful. In 1856, the Mint initiated the production of the Type III gold dollar, commonly known as the Large Head Indian Princess gold dollar. Paradoxically, the "large head" dollar was not physically larger than its "small head" counterpart. Nevertheless, the Mint managed to resolve the production complications, resulting in well-crafted coins.

Despite this, the Type III dollar did not garner favor among the general public, and by the 1880s, it was mainly manufactured as a novelty. Nonetheless, collectors held a deep appreciation for it, both then and now, due to its wide availability and the opportunity to assemble a set featuring all three coin types. The distinctive design, featuring Lady Liberty adorned with a headdress, also contributed to its appeal.