The 1889 Gold Dollar holds a unique place in American coinage history, being the final year of production for this series. With only 28,950 coins minted in Philadelphia, this coin draws considerable interest from collectors, especially in high grades.
Let’s dive into the details of the 1889 Gold Dollar, its historical significance, grading data, and key specimens that have made a mark in the numismatic market.
History of the 1889 Gold Dollar
The 1889 Gold Dollar was part of the Type 3 design, which began in 1856 and ended in 1889. Though minted for circulation, it became less practical over time, especially as larger denomination coins and paper currency became more popular.
The U.S. Assay Commission met on February 13, 1889, to evaluate the dollar’s practicality, along with other low-denomination coins like the Three-Dollar Gold piece and the Three-Cent Nickel.
Their recommendation to Congress was to discontinue these coins due to low circulation and speculative interest among collectors.
Key Market Data and Grading Details
Over the years, many high-grade 1889 Gold Dollars have come onto the market, with some specimens achieving extremely high grades from grading agencies like PCGS and NGC. Here’s a look at how the market views these coins in terms of grading and their auction prices.
The table below outlines some of the top 1889 Gold Dollar specimens, their grades, auction details, and notable features:
| Grade | Grading Agency | Auction House | Date | Price | Notable Details |
|---|---|---|---|---|---|
| PCGS MS68+ | PCGS | Heritage | Nov 1, 2024 | $7,637.50 | Copper spots on the obverse, die crack on reverse |
| PCGS MS68 | PCGS | Stack’s Bowers | Mar 2015 | $8,518.75 | Discolorations near “UN” and “T” of UNITED, die clash inside wreath |
| PCGS MS68 | PCGS | Heritage | Nov 17, 2023 | $6,900 | Die clash marks, periphery die crack |
| NGC MS68 | NGC | Heritage | Feb 9, 2023 | $7,200 | Small carbon spot on neck |
| PCGS MS68 CAC | PCGS | Heritage | Aug 24, 2022 | $10,500 | Known as the “Bender Collection” coin |
Noteworthy Specimens in Detail
- PCGS MS68+ #32601847
- This coin, initially graded by NGC as MS68, was later crossed over to PCGS and upgraded to MS68+. It has copper spots at the 12 o’clock and 1 o’clock positions on the obverse and a diagonal spot above the “D” in “DOLLAR.” Its distinctive circular die crack around the edge has been noted by collectors.
- PCGS MS68 #25218169
- Sold by Stack’s Bowers and then Heritage multiple times, this coin has faint discolorations below the letters “UN” and “T” in “UNITED.” The reverse features a die clash inside the wreath, and several small contact marks near the descending ribbons. This coin has sold for prices between $6,600 and $8,500.
- PCGS MS68 CAC #25332847
- Part of the prestigious “Bender Family Collection,” this coin boasts the CAC (Certified Acceptance Corporation) sticker, adding to its value. In August 2022, it sold for an impressive $10,500.
- NGC MS68 #3414551-002
- Known for a cluster of small ticks above the letters “DO” in “DOLLAR,” this NGC-graded MS68 coin was sold multiple times and achieved a price of $6,900 in early 2020.
Grading Population and Rarity
The PCGS MS68 population for the 1889 Gold Dollar has steadily grown from just six coins in early 2018 to 14 in 2024. With only one MS68+ known to exist, this coin’s rarity and value continue to appreciate.
The Certified Acceptance Corporation (CAC) has endorsed only four of these MS68 coins, making them even more desirable to top collectors.
The 1889 Gold Dollar stands as a unique piece of American numismatic history. With its last-year-of-issue status, high-grade rarity, and variety of interesting features, this coin captures the fascination of collectors worldwide.
Whether you’re a seasoned collector or a curious novice, the 1889 Gold Dollar remains a worthy piece for any collection.
FAQs
The 1889 Gold Dollar is important because it marked the end of the circulating gold dollar series, making it highly collectible. It was discontinued due to low practical use and increased speculation in low-mintage coins.
PCGS MS68+ is an exceptionally high grade, indicating a nearly flawless coin with great eye appeal. The 1889 Gold Dollar has only one known example at this grade, adding to its uniqueness and value.
Yes, collectors often look for unique features such as die cracks, copper spots, and die clash marks. These characteristics can make certain coins stand out and increase their appeal in the collector market.
Both PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) are respected grading companies. While their grading standards are similar, collectors sometimes prefer one over the other based on personal preference or historical pricing trends.
The price of an 1889 Gold Dollar in MS68 varies based on auction results, past ownership, and special features. Generally, prices range between $6,000 and $10,500, with some unique coins fetching even higher prices.
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