If you are a collector of numismatic gold coins, there is no doubt that you are familiar with the gold dollar. And if you’re trying to buy an ancient (century-old) coin that was struck in gold, look no further than the gold dollar.
The gold dollar, also known as the gold one-dollar piece, is a coin that was minted by the U.S. Bureau of the Mint between the years 1849 and 1889. It was made from an alloy of 90% gold and 10% copper. There are three types of gold dollars, each with different years of minting. The earliest mint is the type 1 gold dollar which has a portrait of Liberty Head on the observe of the coin. They were minted from 1849 to 1854. Meanwhile, the type 2 gold dollar has a portrait of a small head Indian Princess on the front side of the coin. They were struck from the year 1854 to 1856. Lastly, the type 3 gold dollar has a portrait of a large head Indian Princess on the head of the coin. They were minted from 1856 to 1889.
[type 2]
[type 3]
People from the U.S. had long remarked that silver coins were cumbersome to carry around because of their huge size and mass, especially during the early days when the inflation rate was healthy. Because of the gold standard, both governments and financial institutions were unable to influence the amount of money in circulation by over-printing money. Gold dollars presented a significantly different challenge during that time; due to their diminutive size (they weight about 1.672g), they were prone to be lost or stolen. In the mid-19th century, a single one of these little coins was approximate a full day’s earnings or perhaps more for many people.
Collectors in this day and age hold gold dollars in very high regard because, despite their small size, they are quite rare and can fetch very high prices. The quest to acquire gold dollars can be a wonderful experience, but it does need to have a healthy bank balance in order to achieve your goal. Uncirculated gold dollars with dates that are earlier than 1879 are exceedingly difficult to find for obvious reasons. Depending on their condition and grade, they cost anywhere from close to melt value to a few thousand. There are many fake gold dollars in the market. Therefore if you are not a numismatic expert, you should rely on purchasing coins from a reputable dealer.
[Source: https://www.apmex.com]
