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Lot 905

1854 Type II. NGC
graded MS-65. A monumental grade for this very rare type issue. The
Philadelphia Mint had a change of directorship in 1853 when James Ross Snowden
ascended to that position. Immediately, Snowden undertook to refurbish our
coinage. He felt the gold dollar was too thick, and thus to small. Snowden
directed the Mint Engraver Longacre to redesign the gold dollar for a thinner,
but wider planchet. Longacre choose his $3 gold piece rendition of Liberty for
the obverse, and on the reverse a wreath which would be very similar to the
Flying Eagle cent reverse a few years later. These new gold dollars began
production on August 19, 1854 and continued until the end of the year. In short
order, Longacre redesigned the head again, and the obverse master hub was
changed starting in 1856 on all gold dollars save for the San Francisco issues,
which continued through 1856 with the so called Type II head only for that
year. Hence, few were coined, and certainly not many saved, and the Type II
gold dollars have always been in strong demand by collectors. Here is a gem
example of this rare coin, and rare indeed it is, as NGC in their Population
Report note only 19 have been so designated, with only 8 graded higher in
various grades. An important opportunity for the specialist. Estimated
Value $25,000-UP.
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