Budget Recommendations: Build a set of 1873-1878 coins in VF-20 to VF-30 grade. Certain higher graded coins with chopmarks (punchmarks stamped on the coins by Oriental merchants, to signify that the pieces were of good weight and fineness) are cheap, thus sometimes you can acquire AU-50 chopmarked coins for little more than a regular VF-30 would cost. (Actually, chopmarked trade dollars are fascinating in their own right, and connoisseurs will find them stimulating to collect, too.) Proofs 1878-1883 can be bought in impaired condition.

Recommendations for the Connoisseur: There are several ways to go: 1. Buy a basic coin as a type; I recommend EF-45, MS-63, or Proof-63, depending upon your budget. If you select Proof-63, pick a date in the 1878-1883 range as it is interesting to own a low mintage issue of which only 1,000 coins or so were ever made (although Proofs of earlier issues are rarer, these earlier dates are readily available in business strike form). 2. Build a set of dates and mintmarks. If you are on a budget, use EF-40 to AU-50 as an objective for the issues 1873-1878 and Proof-60 for the later rare Proofs through 1883. If you can afford it, try for a set of MS-63 business strikes of the branch mint issues and Proof-63 coins of the Philadelphia varieties. Of course, MS-64 and Proof-64 would be even nicer, but there is a substantial jump in price from the 63 level. 3. Build a date set of Proofs 1873-1883 in Proof-63 or Proof-64 grade.

Elite Recommendations: Form a set of 1873-1878 branch mint coins in MS-65 grade and 1873-1883 Philadelphia coins in Proof-65 preservation. Certain of the branch mint coins will be quite a challenge, and you may never find 1873-CC and 1876-CC. Of course, if you have a well-fortified checkbook, owning an 1884 and 1885 would be the peak of numismatic satisfaction.

GOLD COINS

Buying Recommendations

Gold Dollars (1849-1889)

The gold dollar, the smallest denomination regular issue United States gold coin, first appeared in 1849, when the government introduced two new denominations, the dollar and double eagle, to exploit vast quantities of yellow metal coming to the East from the California Gold Rush. Gold dollars were minted continuously from 1849 through 1889, although mintages were largely restricted after the Civil War.