Gold Dollars make for a fascinating set in which to specialize. They were produced from 1849 through 1889, and there are three types which include coins which range from rare to ultra-common. What sets this denomination apart from other gold denominations from this time period is the availability of issues in very high grades.

The branch mint coins from Charlotte and Dahlonega (and San Francisco to a lesser extent) form a serious obstacle to the collector who craves coins in high grades (MS65 and finer). Virtually none of these issues exist in Gem grades, and many of the C and D coins are essentially non-existent in grades above MS62/63. But there is a simple solution that will allow the potential specialist in gold dollars to assemble a high-grade set and not have to settle for lower grade examples of the various Charlotte and Dahlonega condition rarities.

My suggestion is to assemble a year set of gold dollars. Such a set would encompass at least one issue from each year in which this denomination was produced. This would allow all the coins in the set to grade at least M63/64. It would also allow for the inclusion of high-quality branch mint issues from New Orleans and San Francisco; even a few comparatively choice pieces from Charlotte and Dahlonega.

It is possible to do this set with virtually every coin approved by CAC. This will add approximately 25-50% to the prices suggested below but, in most cases, this premium is justified.

Let’s look at each year in which this denomination was produced and see what’s available and what makes the most sense for this proposed collection.

I. Type One, 1849-1854

1849: Four mints struck gold dollars during this first-year-of-issue and all are common. A Philadelphia coin makes the most sense for a high grade set, but the 1849-O is reasonably available in MS64 and even, on occasion in MS65 (a nice PCGS coin should cost around $15,000). The 1849-D is available in grades through MS63 and a nice coin will run $12,500-15,000. I would personally select an 1849-O in MS65 or an 1849 in MS65/66.

1850: Four mints struck gold dollars in 1850. The Philadelphia issue is the rarest Type One gold dollar from this mint, but a nice MS65 should be available for less than $6,000. The three mintmarked issues are all unknown above MS63 (except for the 1850-O which has a population of 2 in MS64 with none finer). I would select an 1850 in MS65.

1851: Again, four mints struck gold dollars in 1851. Luckily for collectors, the 1851-C is the most common date from this mint, and a nice MS64 is within reach; expect to pay around $12,500 for such a coin. This would be my selection for this year.

1852: There are a few interesting branch mint options for this year. The 1852-O is scarce in MS64 but can be located with patience for around $8,000, while the 1852-C might be available in the same grade—with some luck and patience—for around $20,000-25,000. Most collectors are likely to shop for a Philadelphia gold dollar dated 1852, and this issue is available in grades through MS67. I’d select a 52-P in nice MS66, but would consider the right 52-C or 52-O.

1853: Of the three branch mints which made gold dollars in 1853 (along with the Philadelphia mint, of course), the 1853-O is a viable option in MS65 as PCGS has graded 7 (with 5 finer; all MS66). With nice MS65 1853-O dollars priced below $10,000, this would be my clear choice for this year

1854: This is an interesting transitional year with both Type One and Type Two issues struck at Philadelphia. The Type Two is expensive in Gem, while the 1854-D is extremely rare above MS61/62. So, I’d choose an MS64 1854-S. PCGS has graded 9 in 64, and a solid-for-the-grade example would run around $17,500. The alternative is an 1854 Type One in MS66 at around $5,000-6,000.

II. TYPE TWO, 1854-1856

1854: The ideal solution for this date is discussed above, under “1854.”

1855: This was a busy year for this short-lived type with four mints making gold dollars. The 1855-C and 1855-D are crudely produced and virtually unknown finer than MS62. The 1855-O is sometimes seen in MS63 or even MS64, but these have become virtually impossible to acquire due to their extreme popularity. Thus, I’d opt for a Gem 1855 Type Two graded MS65 by PCGS and approved by CAC. You should be able to locate one with patience at around $35,000.

1856: Only the San Francisco mint made Type Two gold dollars dated 1856. There are a small number known finer than MS63, but these aren’t going to be the ideal coin for this set. See 1856 Type Three (below) for more detailed information.

III. TYPE THREE, 1856-1889

1856: Only two mints made Type Three gold dollars in 1856: Philadelphia and Dahlonega. There are two varieties of the former: the Slanted 5 and the Upright 5. The latter is around four to five times scarcer and it is one of my favorite “sleeper” dates in this series. You might be able to locate an MS65 (PCGS has graded just 6 with 3 finer) and with CAC approval, this will be very challenging but not impossible. Expect to pay a bit over $10,000 for one. A PCGS/CAC MS64 will only cost $2,500-3,000.

1857: This is the second-to-last year in which four mints struck gold dollars. The 1857-C and 1857-D are impossible to locate above MS62, while the underrated 1857-S is very rare (but not impossible) in MS62 and higher; the obvious choice, though, is the 1857-P which is pretty easy to find in grades through MS66 but very rare finer. A high-end PCGS MS66 should cost around $6,000 as opposed to the $20,000+ you’ll spend on an MS67. I think the MS66 is a no-brainer.

1858: There are just enough MS63 and MS64 1858-D gold dollars graded to give this date strong consideration for your year set. But note that as of September 2021, CAC has approved just 1 in MS63 and none finer which means that most collectors will instead focus on the 1858-P. There are some uber-grade examples of this date (PCGS has graded an MS68+ and an MS69!), but a nice MS66 at $6,000+ or even an MS67 at $12,500+ makes more sense to me.

1859: This is the final year in which four mints made gold dollars. You can pretty much forget an 1859-C or an 1859-D in grades above MS62/63, but there are a very small number of nice 1859-S gold dollars. The 1859-P is the logical choice and this date is somewhat available in MS66 (at around $6,000-6,500). A few superb pieces exist (4 in PCGS MS67, and 2 in PCGS MS68+); these are rare and pricey.

1860: This is the first year in which a few nice San Francisco gold dollars are known. PCGS has graded 4 1860-S gold dollars in MS64, and a single coin in MS65. The MS64s trade in the $9,000-10,000 range but none have been approved by CAC. The more obvious choice is the 1860. This date is common in grades through MS64, but it is very rare in MS65 and finer. Your best bet is a nice PCGS/CAC MS64 at $2,500.

1861: There are two options for this year. You can go big with an 1861-D (a nice one will cost you six figures) or you can buy a common 1861-P in high grades (in this case MS66 with CAC approval) for around $5,000.

1862: Starting with this issue and continuing up through 1869, you have only one option: Philadelphia mint gold dollars. The 1862-P is very common in grades through MS65, and a nice PCGS/CAC MS66 should be available for around $3,000-3,250. You can even splurge and buy an MS67 for less than $10k, although such a coin won’t be easy to locate with CAC approval.

1863: The 1863 is the rarest single gold dollar from Philadelphia in the business strike format. You’ll likely either be offered one in the mid-AU range or one in Gem Uncirculated, as there are just 14 coins graded at PCGS between MS60 and MS63. If you have a budget of around $10,000, you can expect to find a non-CAC MS64. This is going to be a very tough hole to fill, and a Proof might be an interesting alternative.

1864: This date is a killer in collector grades (AU55 to MS62), but it is available from time to time in MS67 and even MS68. Believe it or not, there is even a single PCGS MS69 known which is arguably the single finest gold dollar in existence. Given that high-grade examples of this date tend to be really attractive little coins, I’d splurge on this popular Civil War date and buy an MS66 or even an MS67; the former should cost around $10,000 and the latter closer to $20,000.

1865: With 15 coins graded between MS65 and MS66 at PCGS, this range makes a good target for this popular Civil War date. Look to spend around $10,000-15,000 for the right coin. And a CAC sticker isn’t out of the question on this date as 2 are graded MS65, and another 2 in MS66 have been approved.

1866: There’s a big jump in values for the 1866, with MS66s worth around $5,000 and MS67s close to triple that amount. I’d suggest you buy a nice MS66 and save your money for one of the more heralded Civil War dates (see above).

1867: I regard the 1867 as a real sleeper date within this series. Properly graded Gems are rare as evidenced by the fact that PCGS has graded just 3 in MS65, 2 in MS65+, 3 in MS66, and 1 each in MS67 and MS67+. Making this date even more of a challenge is the fact that CAC has approved just 2 in MS65 and 1 in MS67. This is another issue which might be interesting to represent with a Proof.

1868: This date is common in grades through MS64. It is scarce in Gem and rare in MS66+ and higher. You should be able to purchase an MS66 for $7,000 or so, but this is not likely to be CAC approved. A stop-gap might include a nice MS65 at around $5,000-5,500.

1869: This unheralded date is common through MS64 but it is deceptively rare in properly graded MS65 (just 6 graded by PCGS), and MS66 (just one graded by PCGS). Oddly, PCGS shows 11 graded in MS67 plus another 2 in MS67+. A CAC/PCGS MS67 might actually be your best option with the most recent APR (from early 2020) at $14,400.

Here are the parameters which I would try to follow when assembling this year set of gold dollars:

All coins graded by PCGS
As many coins as possible approved by CAC (at least 80% of the total)
A few interesting branch mint coins in at least MS63/64 grades to keep things interesting
All coins with nice original color and choice surfaces
Coins with better than average strikes and eye appeal whenever possible

Part II of this article will appear on raregoldcoins.com in the coming weeks.