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$1 Gold Dollars (1849-1889)

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$1 Gold Dollars (1849–1889)

The U.S. Gold Dollar was the smallest denomination gold coin ever struck by the United States Mint, both in size and face value. Issued between 1849 and 1889, these coins reflect an important chapter in American coinage and remain highly collectible today.

Historical Background

  • Authorized by the Act of March 3, 1849, the $1 Gold Dollar was created largely in response to the influx of gold from the California Gold Rush.

  • These coins were minted for circulation but were never widely used in everyday commerce because of their tiny size and tendency to be easily lost.

  • The series was discontinued in 1889, partly due to low demand and practicality issues.

Design Types

There are three main design types, all designed by James B. Longacre:

  1. Type 1 (Liberty Head, 1849–1854)

    • Smallest U.S. coin ever struck (only 13 mm).

    • Obverse: Liberty head with coronet inscribed LIBERTY.

    • Reverse: Wreath enclosing denomination and date.

  2. Type 2 (Indian Princess Head, Small Head, 1854–1856)

    • Diameter increased to 15 mm.

    • Obverse: Small portrait of Liberty wearing a Native American feather headdress.

    • Reverse: Wreath with denomination and date.

    • Known for weak strikes, making fully struck examples scarce.

  3. Type 3 (Indian Princess Head, Large Head, 1856–1889)

    • Same general design as Type 2 but with a larger portrait to correct strike problems.

    • Longest-running design in the series.

Specifications

  • Composition: .900 fine gold, .100 copper

  • Weight: 1.672 grams

  • Actual Gold Weight (AGW): 0.04837 troy oz

  • Diameter: 13 mm (Type 1), 15 mm (Types 2 & 3)

  • Edge: Reeded

Mints Involved

  • Philadelphia (no mintmark) – most issues.

  • Charlotte (C), Dahlonega (D), New Orleans (O), San Francisco (S) – produced scarcer issues, particularly prized by collectors.

  • Branch mint issues are highly sought after, especially from Charlotte and Dahlonega (both closed in 1861).

Key Dates & Rarities

  • Type 1: 1849-C, 1849-D, 1850-D

  • Type 2: 1855-C, 1855-D

  • Type 3: 1861-D (extremely rare, struck during the Civil War under Confederate control)

  • Later dates (1870s–1880s) often had low mintages, making them scarcer.

Type 1: Liberty Head (1849–1854)

  • 1849-C Open Wreath – One of the rarest U.S. coins, only 4–5 known.

  • 1849-C Closed Wreath – Still scarce, highly desirable.

  • 1849-D – Low mintage, tough in high grade.

  • 1850-D – Another Dahlonega rarity.

  • 1854-S – First year of issue from San Francisco, scarce.

Type 2: Indian Princess Small Head (1854–1856)

  • 1855-C – Charlotte issue, rare.

  • 1855-D – Dahlonega issue, one of the toughest Gold Dollars.

  • 1856-S – Low mintage and scarcer than often realized.

Type 3: Indian Princess Large Head (1856–1889)

  • 1856-D – Key Dahlonega issue, weak strikes are common.

  • 1861-D – Struck under Confederate control, only about 1,000 coins issued; legendary rarity.

  • 1875 – Extremely low mintage (just 400 pieces).

  • 1877 – Another low mintage year (3,900 struck).

  • 1878 – Only 3,000 struck, very scarce.

  • 1881 – Mintage just 7,620, key date for later issues.

  • 1885 – Scarce in high grade.

  • 1889 – Final year of issue, popular as a “last-year type.”

Collector’s Tip:

  • Charlotte (C) and Dahlonega (D) Mint issues are generally scarcer and always command premiums.

  • Civil War–era coins (1861, especially the 1861-D) are highly sought after due to their historical connection.

  • Low-mintage late 1870s issues (1875, 1877, 1878) are among the rarest U.S. gold coins in circulation strikes.

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