Here's the newest edition to my type set. Please guess the grade that PCGS assigned to it, and to the extent that your grade might vary also share with us your grade. The pictures are fairly accurate, however the coin is a bit more lustrous than the photos suggest, particularly on the obverse...Mike
EF-45 to AU-50. With all that luster I am leaning toward AU. Perhaps the coin was a pocket piece for a while which might explain the amount of wear and luster.
AU-58 - with all that luster still present. Are those smudges on the holder on the reverse - I think so, but thought I would ask. Nice coin by the way!
With this caveat which is I have a hard time grading gold, I would grade this AU53. Your one dollar is a pretty coin and a testament to a time when money was real.
If they followed their own standards PCGS should have said VF35. I would say VF25 based on ANA standards. The coin just has too much wear for anything higher IMO.
Without commenting on the particular coin in this thread, below is an NGC AU58 for comparison. Do those who expressed an XF or low grade AU opinion still feel the same way? http://cgi.ebay.com/1854-TYPE-2-INDIAN-PRINCESS-HEAD-GOLD-DOLLAR-NGC-AU58_W0QQitemZ370015266628QQihZ024QQcategoryZ149937QQssPageNameZWDVWQQrdZ1QQcmdZViewItem
Here are all the 1854 type twos at Heritage for comparison (requires login): http://coins.ha.com/common/auction/lot_history.php?PCGSNo=7531