Market Analysis: Proof Indian Head dollars

A Proof 65 Cameo 1860 Indian Head gold dollar realized $25,200 while a Proof 67+ Cameo 1884 example sold for $30,000 on Nov. 21. Each carried a green CAC sticker.

Image courtesy of Stack's Bowers

The “Chapman Set” was especially noteworthy for its Proof gold dollars, like an 1860 Indian Head coin graded Proof 65 Cameo by Professional Coin Grading Service that sold for $25,200. Like many in the offering, it carried a green Certified Acceptance Corp. sticker.

Of the coin, the cataloger observed, “The entire package is dressed in delicate pinkish-rose iridescence that speaks volumes about the coin’s originality.” The low mintage of 154 Proof strikes was relatively high for the era, but the actual distribution was likely lower, and today John Dannreuther and others cite an existing population of 20 or so.

An 1884 Indian Head gold dollar from the waning years of the series graded PCGS Proof 67+ Cameo with CAC sticker sold for $30,000. It featured the characteristic, desirable original “orange peel” finish texture, and an overall “rich orange-gold color with a dusting of overlying pinkish-silver.”

Demand for small-sized gold Proof dollars for use in jewelry led to a high mintage of 1,006 Proof strikes, and most examples now exhibit some impairments. Proof mintages for gold dollars would exceed 1,000 pieces each year after, until the series ended in 1889.  

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