Gold Market Prices Collector Out of $1 Pursuit

I read with interest the Indian Princess Head gold U. S. $ 1 article in the May 22 issue of NN by Mark Benvenuto. But my experience with that series makes me think his sources or information are a bit dated. Nowadays those little gold coins command hefty prices, even for those that were turned into love tokens or other jewelry over a century ago.

My silver coin collecting having rather topped out, I decided a couple of years back that it might be fun to start a gold $1 collection simply by date. (My budget would never allow me to capture the rare dates, including the Dahlonegaor Charlotte-minted coins.) So for once, I did the right thing and “read the book first.” I purchased the 2011 publication by Q. David Bowers, A Guide Book of Gold Dollars.

Bowers book suggests that there never was much demand for the dainty little gold dollars, and nearing the end years of their mintage, jewelers and a few collectors were about the only demand. So I jumped into buying the ones I could afford – no proofs or BU coins. I bought my first couple of VF Indian Princess gold dollars (1888 and 1889) in early May 2018. I was pleased enough with the price and quality, and proceeded to capture a double handful of other dates. Bowers’ book even suggested that the elusive 1884 and 1886 were out there and plentiful enough to be had. (Though I never found them affordable).

Then the pandemic hit and gold bullion skyrocketed. I watched all the little gold dollars go up, up and up in price. I purchased my last gold Indian Princess $1 in January of 2020. Since that time, I have felt priced out of the market. Even what I would term damaged, soldered or near cull pieces are high priced. The up-tick in bullion seems to have given some sellers reason enough to tack on some extra margin on the better dates. If gold prices ever get back to 2018 levels, I may try my luck again – for now, I will try silver dimes.

David Smith Tennessee