The gold dollar was a United States dollar coin produced from 1849 to 1889. Composed of 90% pure gold, it was the smallest denomination of gold currency ever produced in the United States. When the US system of coinage was originally designed there had been no plans for a gold dollar coin, but in the late1840s, two gold rushes later, Congress was looking to expand the use of gold in the country’s currency.^[1][2] The gold dollar was authorized by the Act of March 3, 1849, and the Liberty Head type began circulating soon afterward.^[3] Because of the high value of gold, the gold dollar is the smallest coin in the history of US coinage. Dollar coins have been minted in the United States in gold, silver and base metal versions. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Atomic mass 196. ... A California Gold Rush handbill A gold rush is a period of feverish migration of workers into the area of a dramatic discovery of commercial quantities of gold. ...

History

The gold dollar had its origins more than a decade before the Act of March 3, in the Carolina gold rush of the 1830s. The sudden availability of gold caused the US government to make several changes to its coinage system. Gold coins were minted in considerably larger quantities, and new mints were opened at Charlotte and Dahlonega solely for the production of gold coins. It was around this time that the first gold dollars were minted in the United States, but not by the government. A North Carolina jeweler by the name of Alt Christoph Bechtler capitalized on the gold rush, by offering to turn prospectors’ raw gold into coins. He began offering this service in the early 1830s, and by 1840 he had produced over $2.2 million in gold coinage. Nearly half of this was in the form of gold dollars.^[2] With the Carolina gold rush in full swing, the Charlotte Mint was born on March 3, 1835. ... The Dahlonega Mint was chartered by the United States Congress in 1838, at the mining town of Dahlonega, Georgia, during the first gold rush. ... Official language(s) English Capital Raleigh Largest city Charlotte Area  Ranked 28th  - Total 53,865 sq mi (139,509 km²)  - Width 560 miles (901 km)  - Length 150 miles (240 km)  - % water 9. ...

Bechtler’s actions were perfectly legal at the time, but his success attracted the attention of the US government. It was suggested by members of the government that the US Mint take part in this new, profitable, venture and begin minting gold dollars of their own. In 1836, Congress authorized the US Mint to do just that, but Mint Director Robert Patterson opposed the idea, and nothing came of the matter for the time being. In 1849 however, things changed. A new gold rush in California had sparked demand yet again for more gold coinage. Director Patterson still objected, but was unable to dissuade Congress. The Act of March 3, 1849 authorized production not only of gold dollars, but another new coin, the double eagle. Production of both denominations would soon begin.^[2] The United States Mint is responsible for producing and circulating coinage for the United States to conduct its trade and commerce. ... Seal of the Congress. ... The California Gold Rush was a period in American history marked by great world-wide interest concerning a gold discovery in Northern California. ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  Ranked 3rd  - Total 158,302 sq mi (410,000 km²)  - Width 250 miles (400 km)  - Length 770 miles (1,240 km)  - % water 4. ... The 1933 Double Eagle, Saint Gaudens design Double Eagle is the official term used for gold coins of the United States with a denomination of $20. ...

Liberty Head type (1849-1854)

Designed by James B. Longacre, the first type of gold dollar is known as the “Liberty Head” type or the “Type I” gold dollar. The obverse of the coins depicts Liberty's head circled by thirteen stars. She faces to the left and wears a coronet inscribed with the word "LIBERTY". The reverse depicts a simple wreath encircling the date and value of the coin, and the inscription “UNITED STATES OF AMERICA”. Weighing 1.672 grams, the coin had a composition of .900 gold and .100 copper. It therefore contained .04837 ounces of pure gold. Starting in 1849, a quantity of the Liberty Head gold dollar was minted each year at Philadelphia and Dahlonega. The coin was also minted at Charlotte, New Orleans, and San Francisco. The quantity minted in total each year ranges from 511,301 in 1850 to 4,384,149 in 1853.^[3] However, a problem soon arose with this type. The Liberty Head gold dollar had a diameter of only 13 mm. At less than three-quarters the size of the present-day dime, it was the smallest coin in U.S. history. Because it was so small, it could be easily lost despite its high value. As a result of this issue, many people were highly critical of the new coin.^[2] In response to their objections, the US Mint began experimenting with new designs. It was important that the weight of the coin remain the same because of gold values, so they soon began experimenting with putting a hole in the middle of a larger coin. These plans were scrapped when James Snowden became Mint Director in 1853. His idea was that the coin simply be made wider but thinner, and that James Longacre redesign its faces.^[4] James Barton Longacre, (August 11, 1794 - January 1, 1869) an American engraver, was Chief Engraver of the United States Mint from 1844 until his death. ... Betsy Ross purportedly sewed the first American flag with 13 stars and 13 stripes representing each of the 13 states. ... General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11, 4, d Appearance metallic pinkish red Atomic mass 63. ... The Philadelphia Mint was created from the need to establish a national identity and the needs of commerce. ... A postcard dated 12 July 1907 showing the New Orleans Mint during its last few years of operation as a branch mint facility. ... The San Francisco Mint is a branch of the United States Mint, and was opened in 1854 to serve the gold mines of the California Gold Rush. ... A dime is a coin issued by the United States Mint with a denomination of one tenth of a United States dollar, or ten cents. ...

Indian Head type

Small Head (1854-1856)

In 1854 the US Mint issued the redesigned gold dollar with an increased diameter of 15 mm. As planned, neither its weight not its composition was changed. James Longacre designed a new obverse for the coin based on his work with the three-dollar piece. The head depicted on the obverse has commonly been described as an "Indian princess," and gave this type its name. However, historians have suggested that the design is actually based on a Roman marble figure, to which a headdress was added by Longacre. More specifically, it has been suggested that he based the design on “Crouching Venus” a statue on display in the Philadelphia museum. In addition to the obverse, the reverse of the gold dollar was also modified somewhat, and the inscription “UNITED STATES OF AMERICA” was moved to the obverse. The overall wreath design remained unchanged however.^[4] In the few years of this type's production, only six date mint mark combinations were created: 1854, 1855, 1855C, 1855D, 1855O, and 1856S. The quantities minted in total each year were 783,943 in 1854, 824,883 in 1855, and 24,600 in 1856.^[3] Although the diameter of the gold dollar had been considerably improved, the new Indian Head type was not free from problems. The height of the relief was such that very few of the coins produced were fully struck, and as a result the design was not sturdy enough for circulation. The Mint would have to redesign the gold dollar once again.^[4] The Roman Forum was the central area around which ancient Rome developed. ... Venus de Milo, front. ... A mint mark is an inscription on a coin indicating the mint at which the coin was produced. ...

Large Head (1856-1889)

In 1856, a newly durable gold dollar was released by the Mint. Dubbed “the Large Head type,” Longacre's new design was very similar to that of the Small Head type, but the size of the Indian head on the obverse increased, while at the same time it became more flat. The headdress changed location as well, and the details of the face were slightly altered.^[5][6] The new type was minted continuously at Philadelphia, but in certain years quantities were also produced at Charlotte, Dahlonega, and San Francisco. In addition, proofs were minted at Philadelphia from 1859 on. The quantity of proofs minted each year ranges from 20 in 1874, 1875, 1877, and 1878 to 1,779 in 1889. In total, the quantity of coins minted each year ranges from 420 in 1875 to 1,764,396 in 1856. Production of the gold dollar was discontinued in 1889.^[3] A beautiful example of a proof coin. ...

Notes

1. ^ CoinFacts.com: Liberty Head Gold Dollars. Retrieved September 9, 2006.
2. ^ ^a b c d Coin Community: Gold Dollar Liberty Head Type 1 History. Retrieved September 9, 2006.
3. ^ ^a b c d Yeoman, Richard and Kenneth Bressett (ed.), A Guide Book of United States Coins (56th edition), (New York: St. Martin’s Press, 2002. ISBN 1-58238-188-7.) 196-198.
4. ^ ^a b c Coin Community: Gold Dollar Indian Head Type 2 History. Retrieved September 9, 2006.
5. ^ Coin Community: Gold Dollar Indian Head Type 3 History. Retrieved September 9, 2006.
6. ^ CoinFacts.com: Indian Princess Gold Dollars. Retrieved September 10, 2006.

Richard S. Yeoman (or R. S. Yeoman; born Richard S. Yeo) was a commercial artist and coin collector who marketed coin display boards for Whitman Publishing. ... A Guide Book of United States Coins, by Richard (R. S.) Yeoman, is an annually-published pricing guide for United States coin collectors, and is considered one of the more definitive coin-price sources. ...

External links

• Heritage Coins: The Virtual Coin Collection