1849-1854 Liberty Head

COIN NAME: GOLD DOLLAR 1849-1854 Liberty Head
DESIGNED BY: James Barton Longacre
ISSUE DATE: 1849-1854
COMPOSITION: 0.900 part gold, 0.100 part copper
DIAMETER: 13 mm
WEIGHT: 25.8 grains
EDGE: Reeded
BUS MINT: 12,565,273
PROOF MINT: Fewer than 50

This gold dollar is the smallest United States coin ever minted. Imagine a coin half the size of today's tenth ounce gold coin. Because it was easily lost, production was limited to this single period in time. The obverse of the style minted from then to 1854 depicts the head of Miss Liberty facing left, her hair tied at the back, and wearing a coronet inscribed LIBERTY. Thirteen stars surround. The reverse depicts a wreath open at the top enclosing the numeral 1, the value DOLLAR, and the date. The inscription UNITED STATES OF AMERICA surrounds. Production was continuous during this period. Examples were produced primarily at the Philadelphia Mint, but the facilities at New Orleans, Dahlonega, Charlotte and San Francisco contributed as well. All of the Charlotte and Dahlonega coins are scarce today, and some are very rare.

Charlotte and Dahlonega coins in particular are nearly always very weakly defined in certain areas. Examples of Philadelphia Mint gold dollars are readily available in various grades from Very Fine to AU. Uncirculated pieces are scarce, and superb Uncirculated coins are rare.

1854-1856 Indian, Small Head

COIN NAME: GOLD DOLLAR 1854-1856 Indian, Small Head
DESIGNED BY: James Barton Longacre
ISSUE DATE: 1854-1856
COMPOSITION: 0.900 part gold, 0.100 part copper
DIAMETER: 15 mm
WEIGHT: 25.8 grains
EDGE: Reeded
BUS MINT: 1,633,426
PROOF MINT: Fewer than 50

In 1854 James B. Longacre restyled the gold dollar to an increased diameter. At just 13 mm, the previous design was just too small to be practical. However, the new design had some flaws of its own. The thinness of the coin and the depth of the die recesses, made it difficult to strike the coin and achieve fine detail on both the obverse and reverse. Of particular difficulty was the detailed striking of the central two digits of the date.

In 1854 the obverse motif was changed to the head of an Indian princess, wearing a feather headdress and a band inscribed LIBERTY, facing left, with UNITED STATES OF AMERICA surrounding. The reverse shows a wreath of corn, cotton, wheat, and tobacco, similar to that used on the $3 of the same year (and the Flying Eagle cent minted later, beginning in 1856). After a coinage in 1854 at the Philadelphia Mint, a coinage in 1855 at the Philadelphia, Charlotte, Dahlonega, and New Orleans mints, and a coinage in 1856 at the San Francisco Mint only, the obverse motif was modified. In the 1854-1856 span there are several scarce issues and two rarities, the 1855-C and 1855-D.

The type collector will have no difficulty in encountering a Philadelphia Mint coin of 1854 or 1855 in any desired grade from Very Fine through AU. Uncirculated pieces are scarce, and superb Uncirculated coins are seldom met with.

1856-1889 Indian, Large Head

COIN NAME: GOLD DOLLAR 1856-1889 Indian, Large Head
DESIGNED BY: James Barton Longacre
ISSUE DATE: 1856-1889
COMPOSITION: 0.900 part gold, 0.100 part copper
DIAMETER: 15 mm
WEIGHT: 25.8 grains
EDGE: Reeded
BUS MINT: 5,327,363
PROOF MINT: 8,700 (estimated)

In an attempt to eliminate problems of striking in previous dollar coins, Longacre redesigned the gold dollar. But, because of the size, which was small and unpopular for that reason, this was the last gold dollar produced.

The Indian princess style of Miss Liberty was continued, but in the new version the relief is lower and the details are different. Changes were also made in the reverse wreath. The result was a coin which indeed could be struck properly, with the result that gold dollars of the Type III design usually are well struck in most areas, including the central two digits of the date. The Type III or Large Head motif was produced continuously from 1856 through 1889, although during and after the Civil War, mintages were exceedingly low for all years except a few. In 1875 when just 400 business strikes and 20 Proofs were struck.

The type set collector can easily locate examples of the more plentiful dates in desired grades from Very Fine to AU. Uncirculated pieces are scarce, and superb Uncirculated are scarcer yet, although a flurry of investment and speculative activity which occurred among jewelers and numismatists during the 1879-1889 years resulted in the survival of more Uncirculated specimens of these dates than would otherwise have been the case.