1. Rarity: The 1856 gold dollar is not as rare as some other dates in the US gold dollar series. However, it is still considered a relatively scarce coin, especially in higher grades. The mintage of the 1856 gold dollar was 1,361,839, which is lower compared to other years.
2. Condition: The condition of the coin is crucial in determining its value. Coins that have been well-preserved and show minimal wear and tear command higher prices. Collectors value coins that have sharp details and original luster. The condition is often graded using the Sheldon scale, which ranges from Poor (P-1) to Mint State (MS-70).
3. Certification: To ensure authenticity and grade, many collectors prefer certified coins. Reputable third-party grading companies like the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC) provide expert evaluations and issue certification labels for coins. Certified coins often attract higher prices than uncertified ones.
4. Numismatic Value: Beyond its intrinsic value as gold, the 1856 gold dollar also holds numismatic value for collectors interested in US coinage history. The coin features a classic design with the Liberty Head on the obverse and the eagle on the reverse. Collectors appreciate the historical significance and artistry of these coins.
Based on these factors, an 1856 US one dollar gold piece can have a value ranging from a few hundred dollars for a common circulated coin to several thousand dollars for a certified uncirculated or rare proof specimen. It's important to consult with reputable coin dealers or experts to get an accurate assessment of the value of a specific 1856 gold dollar.