The US dollar is the US currency, one of the hardest currencies in the world. Its typographic sign ($) is well recognized in the most remote corners of our planet and is often perceived as a symbol of wealth, wealth, prosperity. We will devote our article to a 1 dollar gold coin, which was minted in the second half of the 19th century. What does it look like, what is depicted on it, and how much does this coin cost today?
Gold dollar story
The first one-dollar coins in the USA were minted at the end of the XVIII century. They were made of silver. Today, the cost of one such coin is more than three million times its original face value.
Golden American dollars owe their appearance 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 dollar, despite its insignificant face value, was of historical importance for the development of the American economy.
Interestingly, the first noble metal dollar coins were issued on a private coinage owned by German entrepreneur Christoph Bechtler. Throughout North Carolina, he put up advertisements with a proposal for a small fee to melt the mined gold into coins. Wishing to respond a lot. The success of this enterprise forced Congress to establish official coinage of such coins at the state level.
New coin design development
The design of new dollar coins was thrown onto his shoulders by James Barton Longacre, a portrait painter and part-time chief engraver of the American Mint since 1844.
James Longacre was born in 1794 in Delaware. Already at the age of 12, an extraordinary artistic talent of the boy was noticed. In 1827, Longacre became an honorary member of the National Academy of Design. He painted a number of portraits of many famous figures of the United States.
James Longacre designed the same design for gold coins in denominations of $ 1 and $ 20. On the obverse is the head of the Statue of Liberty framed by a ring of thirteen stars (by the number of US colonial possessions at that time). The reverse showed 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 then underwent some changes.
In general, the works of Longacre were of high artistic value. However, many criticized him for the lack of creative progress in the engraving of coins.
Gold US dollars: coins and their types
The decision to issue new coins was made by the American Congress in March 1849. Subsequently, they were minted by mints in five cities (according to the mark on the reverse, you can determine in which particular yard a particular coin was minted):
- San Francisco (S).
- New Orleans (O).
- Charlotte (C).
- Dalonega (D).
- Philadelphia (no letter designation).
Gold dollar is a U.S. coin containing 90% pure gold and another 10% copper. It was minted in the period 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. Each of them will be described in more detail below.
First type
The first type of gold American dollar (1849-1854) is also known as 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 a crown with the inscription “Liberty” is placed on it. The reverse shows the face value and the date of issue of the coin. This information is surrounded by a wreath and the inscription: "United States of America."
The first type of gold dollar was minted between 1849 and 1854. Moreover, in different runs it was possible to meet coins with an open or closed wreath on the reverse. These coins differed 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 the "Indian Princess." Although many historians claim that the prototype for this image was the statue of Venus, stored in the Philadelphia Museum of Art.
The gold dollar of the second type had a larger diameter, the previous week (15 millimeters). In addition, the inscription "United States of America" was transferred from reverse to obverse. There are no other changes to the new coin design.
Six circulations of the second type of gold dollar are known. Moreover, if in the first two lots about 700 thousand coins were minted, then in the subsequent ones - no more than 55 thousand pieces.
Third type
The next coin changes occurred in 1856. The so-called third type of gold US dollar was minted until 1889. From the previous version, this coin was distinguished by a lower image relief and a large diameter. In addition, the face of the "Indian Princess" noticeably plump and aged (compare in the photo below). Thanks to these features, the coin got its second name - Large Head Type.
The reverse of coins of this type from the previous two can be distinguished only by the year of issue. In total, 47 circulations of the third type of gold dollar are known. Most of these coins were issued in 1856 (1,762,936 pieces).
It is important to note that gold dollars were in free circulation 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 the time, their price in the modern market is quite high. This is logical, given the material they are made of. In addition, approximately one third of all minted copies in the 19th century have survived to this day.
Today on the Internet you can find a lot of offers. Gold dollars sell for $ 150 apiece. The price of such a coin will largely depend on the degree of its preservation. The most rare and valuable are coins of 1854 and 1855. According to numismatists, no more than one percent of all coins of the second type are currently saved.
The most expensive US coin
One cannot fail to mention another coin, which is considered the most expensive in the history of the United States. It's about a 20 dollar gold coin. It was first minted in 1849. The design for it was also developed 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 rejection of the gold standard in 1933, almost all copies were seized by the state and remelted. The current price of one 20-dollar gold coin varies widely from $ 1,000 to $ 15,000,000 (depending on the year of issue and condition).
Finally…
At one time (in the middle of the 19th century), this tiny coin was the equivalent of one working day of an ordinary American. Nowadays, the gold dollar, issued in the mid-1800s, enjoys considerable authority among collectors. Moreover, as numismatists assure, the price of this coin will only increase in the future.