US Gold Dollar: appearance and characteristics

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The American dollar is the US currency, one of the hardest currencies in the world. Its typographic sign ($) is well recognizable in the most remote corners of our planet and is often perceived as a kind of symbol of prosperity, we alth, prosperity. We will devote our article to the 1 dollar gold coin, which was minted in the second half of the 19th century. What does it look like, what does it show and how much is this coin worth today?

History of the gold dollar

The first one-dollar coins in the US were minted at the end of the 18th century. They were made from silver. Today, the cost of one such coin is more than three million times its original face value.

Gold American dollars owe their origin to several fevers that took place in this country in the first third of the 19th century. Of course, we are talking about the so-called "gold rush" in the states of Carolina and Georgia. The US gold dollar, despite its insignificant denomination, was of historical importance for the developmentAmerican economy.

It is curious that the first dollar coins made of precious metal were issued on a private coinage owned by the German entrepreneur Christoph Bechtler. All over North Carolina, he put up ads offering to melt the mined gold into coins for a small fee. A lot of people responded. The success of this enterprise forced Congress to establish the official minting of such coins at the state level.

Developing the design of a new coin

James Barton Longacre, a portrait painter and part-time chief engraver of the American Mint since 1844, threw on his shoulders the design of new dollar coins.

James Longacre was born in 1794 in Delaware. Already at the age of 12, the boy's outstanding artistic talent was noticed. In 1827, Longacre was made an honorary member of the National Academy of Design. He painted a number of portraits of many famous US figures.

James Longacre designed the same design for the $1 and $20 gold coins. On the obverse is the head of the Statue of Liberty surrounded by a ring of thirteen stars (according to the number of US colonial possessions at that time). The reverse featured the denomination and year of issue of the coin, surrounded by a wreath and the inscription "United States of America" in English. This design lasted until 1854, and after that it underwent some changes.

In general, Longacre's works had a high artistic value. However, many criticized him forlack of creative progress in coin engraving.

Gold US dollars: coins and their types

The decision to issue new coins was made by the US Congress in March 1849. Subsequently, they were minted by mints in five cities (by the mark on the reverse, you can determine at which particular mint this or that coin was minted):

• San Francisco (S).
• New Orleans (O).
• Charlotte (C).
• Dahlonega (D).
• Philadelphia (no letter designation).

The gold dollar is a US coin containing 90% pure gold and another 10% copper. Minted from 1849 to 1889. According to many people who lived during this period, the coins were extremely inconvenient to use due to their small size. Weight - 1.67 g, diameter - from 12.7 to 14.3 mm. Ribbed edge.

There are three types of gold dollar. We will describe each of them in more detail below.

First type

The first type of gold American dollar (1849-1854) is also known as the Liberty Head. The obverse of the coin is decorated with the head of Liberty surrounded by 13 six-pointed stars. The head looks to the left side, and on it is placed a crown with the inscription "Liberty". The reverse shows the denomination and date of issue of the coin. This information is surrounded by a wreath and the inscription: "United States of America".

The gold dollar of the first type was minted from 1849 to 1854. Moreover, in different circulations one could meet coins with an open or closed wreath on the reverse. These coinsdiffered in the smallest size (13 mm in diameter), as a result of which they were often lost.

Second type

The second type of gold dollar (1854-1856) has the unspoken name Indian Head. Indeed, on the obverse of the coin was depicted an "Indian princess". Although many historians claim that the statue of Venus, kept in the Philadelphia Museum of Art, served as the prototype for this image.

Gold dollar of the second type had a larger diameter than the previous week (15 millimeters). In addition, the inscription "United States of America" was moved from the reverse to the obverse. There are no other changes in the new coin design.

It is known about six circulations of the gold dollar of the second type. Moreover, if in the first two batches about 700 thousand coins were minted, then in the subsequent ones - no more than 55 thousand pieces.

Third type

The next change of the coin took place in 1856. The so-called third type of US gold dollar was minted until 1889. This coin differed from the previous version by a smaller relief of the image and a larger diameter. In addition, the face of the "Indian princess" noticeably plumper and aged (compare the photo below). Thanks to these features, the coin got its second name – Large Head Type.

Reverse coins of this type can be distinguished from the previous two only by the year of issue. In general, 47 circulations of the gold dollar of the third type are known. Most of these coins were issued in 1856 (1,762,936 pieces).

It is important to note that gold dollars were in the freecirculation in the United States until the abolition of the gold standard in 1933.

Coin price today

Despite the rather large number of gold one-dollar coins issued at one time, their price on the modern market is quite high. This is logical, given what material they are made of. In addition, about a third of all copies minted in the 19th century have survived to this day.

Today, you can find a lot of offers on the Internet. Gold dollars are sold at a price of $ 150 apiece. The price of such a coin will largely depend on the degree of its safety. The rarest and most valuable are the coins of 1854 and 1855. According to numismatists, no more than one percent of all coins of the second type is currently preserved.

Most expensive US coin

It is impossible not to mention another coin, which is considered the most expensive in the history of the United States. This is a 20 dollar gold coin. It was first minted in 1849. It was also designed by James Longacre.

Despite the fact that the total circulation of this coin was about 150 million pieces, it is very rare. The fact is that after the abandonment of the gold standard in 1933, almost all copies were confiscated by the state and melted down. The modern price of one $20 gold coin varies widely from $1,000 to $15,000,000 (depending on the year of issue and condition).

In conclusion…

In due time(in the middle of the 19th century) this tiny coin was the equivalent of one working day of an ordinary American. Today, the gold dollar, issued in the mid-1800s, enjoys considerable prestige among collectors. Moreover, as numismatists assure, the price of this coin will only increase in the future.