Liberty Head Type 2 Gold Dollar

The Liberty Head Type 2 Gold Dollar, minted from 1854 to 1856, is the scarcest of the three gold dollar designs. James B. Longacre revised the Type 1 design to address earlier minting challenges, enlarging the diameter to 15 mm and reducing the coin’s thickness to maintain weight. While the design improvements increased the surface area, striking issues persisted, often leaving central details, such as the date, poorly defined.

Coin Highlights

• Composition: .0483 troy oz of gold (90% purity) and 10% copper alloy
• Weight: 1.72 grams
• Diameter: 14.3 mm
• Designer: James B. Longacre (minted from 1854–1856)
• Smallest Coin Ever Created by the U.S. Mint

History of the Liberty Head Type 2 Gold Dollar

The Type 2 design introduced a Liberty Head in higher relief, which posed technical challenges during minting. Insufficient metal flow during strikes resulted in weak details, particularly on Liberty’s portrait and the reverse inscriptions. Well-struck examples with full details are exceedingly rare, making them highly sought after by collectors.

The Liberty Head Type 2 Gold Dollar was initially minted in Philadelphia in 1854, where only 5 Proof strikes were produced. In 1855, additional Proofs (fewer than 15) and business strikes were minted in Philadelphia, as well as at Southern branches in Dahlonega and Charlotte. San Francisco, newly opened, became the sole producer of the final year’s coins in 1856.

The 1855-D (Dahlonega) is the rarest and most elusive issue of the series, while all dates in gem condition are considered highly desirable. Completing a full six-coin set of this type is a costly challenge; most collectors focus on acquiring a single high-grade example.

Collectibility and Investment Tips

The Liberty Head Type 2 Gold Dollar is a fascinating specialty for collectors due to its brief production and minting challenges. While circulated examples are more common, gem-quality coins are rare and command premium prices. Proof specimens from Philadelphia, particularly from 1854 and 1855, are among the rarest and most expensive pieces in the series.

As with all gold coins, counterfeit examples exist, so purchasing from a reputable dealer who guarantees authenticity is essential.

For collectors beginning their journey, Constitutional Gold Group recommends acquiring one high-grade Type 2 coin as a type specimen before exploring rarer issues like the 1855-D. Over time, collectors can expand their portfolios with coins from specific mints, adding historical and numismatic depth to their collection.