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CoinHunter's Blog

25 Jan 2021

The REAL gold dollar

Coins | CoinHunter

Hi guys! Today my blog is going to be about gold dollars, so let's begin. The gold dollar, the smallest denomination regular issue US gold coin, first appeared in 1849, when the government introduced two new denominations, the dollar and double eagle, to exploit wast 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. Today most of the demand for gold dollars comes from type coin collectors, who desire one each of the three different design variations. Type I gold dollars, with Miss Liberty's portrait identical to that used on the $20 double eagle, were made from 1849 through 1854, while Type II dollars, with an Indian princess motif, were struck in 1854 and 1855, plus in 1856 at the San Francisco Mint only. Type III dollars, featuring a modified portrait of an Indian princess, were made from 1856 through 1889. In the early years, from 1849 through the Civil War, the gold dollar was a workhouse denomination. Those of the Type I design, 13 mm in diameter, were used often in everyday change, and most examples seen today show wear. In 1854 the diameter was enlarged slightly to 15 mm, to make the coin more convenient to handle. The Indian princess design, introduced that year, created problems, as it was not possible for the metal in the dies to flow into the deep recesses of Miss Liberty's portrait on the obverse and at the same time into the central date digits on the reverse, with the result that the majority of pieces seen today are weakly struck on the central two digits (85 in the date 1854, for example). To correct this, the Type II portrait, with Miss Liberty in shallower relief, was created in 1856. Among the three design types of gold dollars, by far the scarcest is the Type II. The total mintage of type II gold dollars amounted to fewer than 2 million pieces. Contrast that to the Type I gold dollar, for which over 4 million coins were struck at the Philadelphia Mint in 1853 alone! Similarly, the Type III gold dollar was minted in quantities far larger than the Type IIThanks for reading my blog, I hope you learned something, and have a great day! Source PCGS CoinFacts

Comments

thatcoinguy

Level 5

Gold coins are awesome! I’ll probably never own one unless I win one at the YN auction, but they’re still nice to look at.

CoinHunter

Level 5

They sure are! Thanks.

Kurisu

Level 4

A great refresher, thanks for posting the info! :-)

TheNumisMaster

Level 5

Gold is my favorite! Of course, I cant afford any lol!

CentSearcher

Level 5

Fun fact: do you recognize the wreath on the reverse of the indian princess gold dollar? That wreath was borrowed to make the reverse of the Flying Eagle cent! Thanks for sharing, and stay safe!

slybluenote

Level 5

I like gold coins also, but like Stumpy, I'm also too frugal ! Great post and great pics !

CoinHunter

Level 5

Thanks!

Stumpy

Level 5

I love seeing and reading about Gold coins, but alas, I'm too frugal to buy gold. Good info and blog.

It's Mokie

Level 6

Great Job, enjoyed learning about the gold $1.

Kepi

Level 6

I love these old gold dollars! The designs are so classic! Thanks for a wonderful blog ;)

CoinHunter

Level 5

Thanks!

Longstrider

Level 6

Very cool blog. I love the odd denomination coins. I also like gold, who doesn't? Thanks.

CoinHunter

Level 5

Thank you!

I. R. Bama

Level 5

I think I like type III a little better than two as the facial features of Miss Liberty are not so angular. Both are better than type I which is the type I had. Longacre did a good job with all three designs. I'm not sure where he got the idea for the stylized head dress though, I looked around for quite awhile and could not find any real ones that quite matched that design. I believe the style is called a roach.

CoinHunter

Level 5

Cool, that is very interesting.

Golfer

Level 5

I have 1 5 dollar gold coin. Of course I would like a bunch more gold. Always liked gold, hardly ever look at a case of gold coins at a show. Dollars !! Nice blog on gold. Thanks

CoinHunter

Level 5

Thank you!

CoinHunter

Level 5

Opon I.R. Bama's recommendation, I am adding photos of the different types.

CoinHunter

Level 5

Which design is your favorite? I personally like the Type III

CoinHunter

Level 5

Notice the awesome die clash on some of the pics.

Mike

Level 7

I like gold. I had some. Bought one here one there and it helps you out when you need it. Gold hit 1850 and ounce back in 2011 or12 . Our car went down. So we donated it. They was a gentleman buying gold went there gave me the full price and more. Then the wife and me bought a brand new car. That's what gold is for. Then after that it went down. I timed it just right. Yes it's good to collect but also run to spend. They were not collectable coins bullion 24 ct. The car was a blessing!. Thanks great blog.

I. R. Bama

Level 5

Thank you for an interesting blog. I would have liked to seen pictures of the other two type obverses to study the differences though

CoinHunter

Level 5

Sorry, I didn't think of that....

walking liberty

Level 4

i like the old gold coins because how amazing the designs are

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