Market Analysis: Confederate 1861-D gold $1

An 1861-D Indian Head gold dollar graded PCGS AU Details, planchet flaw, sold for $26,400 at Stack’s Bowers’ Aug. 13 Rarities Night session.

Images courtesy of Stack's Bowers

In contrast to many Details grades seen on coins, this 1861-D Indian Head gold dollar’s Details grade is due to a Mint made error, rather than improper handling. It is graded PCGS About Uncirculated Details, Planchet Flaw, recognizing, “a shallow, noncontiguous planchet void that meanders from the obverse border at 7 o’clock through Liberty’s portrait to the top of the headdress at the final letter S in STATES.”

The issue is famous as one struck solely by the Confederate States of America and is a key issue in the gold dollar series. Beyond the Mint-made flaw, the offered dollar “is bathed in warm honey-olive and, at the border, brighter reddish-rose colors. The finish is decidedly satiny in texture with subtle semi-reflective tendencies evident in the fields,” and it sold for $26,400 at Stack’s Bowers’ Aug. 13 Rarities Night session.  

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