David Akers (1975/88): This date, although certainly scarce, ranks only 27th in rarity in our 238 catalogue auction survey among the 44 coins in this series according to the total number of appearances. As is the case with the 1871, most known specimens are relatively high grade and so the 1872 also ranks only 27th in rarity according to average grade.
A number of extremely choice and fully proof-like first strike uncs exist, and they rank with the uncs of 1877 and 1879 as the most deceptive in the series. As was always the case, however, different dies were used for the proofs than were used for business strikes, and on the 1872, the position of the date is markedly different on proofs than it is on business strikes.
Business strikes have the date higher in the field, almost centered between the word DOLLARS and the bow on the wreath. On the other hand, the date on the proofs is lower in the field and also a bit more to the right.
The “1872 Indian Princess” most likely refers to the $3 gold coin designed by James B. Longacre, with the obverse featuring a Native American princess. These coins were introduced in 1854, after the Mint Act of 1853, and were used to facilitate transactions of three-cent stamps. While the coin design depicts a Native American princess, it’s not a specific princess like Pocahontas, who was a Native American princess who became Christian, married an Englishman, and lived in London.