$1 Gold

Type I, Liberty Head

Designer: James B. Longacre. Diameter: 13mm. Composition: 90% gold, 10% copper. Weight: 1.672 grams. Edge: Reeded.
Minted: 1849-1854. Total Circulation Minted: 12,565,273. Total Proofs Minted: <20 estimated.
Obverse: Liberty Head with Coronet Reverse:

The gold dollar was authorized by the Act of March 3, 1849. Because the value of gold was so high, the gold dollar is the smallest coin in the history of minting in the United States.

The size of the Type I gold dollar quickly became an issue since it was only 13mm and could become easily lost and with it's high value, the public criticized the design. The Treasury began to work on a new design, but the weight of the coin needed to remain the same because of the gold values. As a result, several patterns were made with holes in the middle of a larger sized coin, and although they proved to be effective, none of these patterns made it into circulation.
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