DATES & MINTS INCLUDING VARIETIES/RARITIES:
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SPECIFICATIONS:
Designer: James Barton Longacre
Diameter: 12.7 millimeters
Metal content:
Gold - 90%
Other - 10%
Weight: 25.8 grains (1.7 grams)
Edge: Reeded
Mint mark: Below the wreath on reverse (none for Philadelphia Mint)
LIBERTY HEAD GOLD DOLLARS (1849-1854)
Images courtesy of The Charlottegold Company
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LIBERTY HEAD GOLD DOLLARS (1849-1854) FACTS
The Type 1 Gold dollar was produced from 1849 to 1854. Designed by James B. Longacre, the first type of gold dollar is known as the “Liberty Head” type or the “Type I” gold dollar. The obverse of the coins depicts Liberty’s head circled by thirteen stars. She faces to the left and wears a coronet inscribed with the word “LIBERTY”. The reverse depicts a simple wreath encircling the date and value of the coin, and the inscription “UNITED STATES OF AMERICA”. Weighing 1.672 grams, the coin had a composition of .900 gold and .100 copper. It therefore contained .04837 ounces of pure gold.
Starting in 1849, a quantity of the Liberty Head gold dollar was minted each year at Philadelphia and Dahlonega. The coin was also minted at Charlotte, New Orleans, and San Francisco. The quantity minted in total each year ranges from 511,301 in 1850 to 4,384,149 in 1853. However, a problem soon arose with this type. The Liberty Head gold dollar had a diameter of only 13 mm. At less than three-quarters the size of the present-day dime, it was the smallest coin in U.S. history. Because it was so small, it could be easily lost despite its high value. As a result of this issue, many people were highly critical of the new coin.
In response to their objections, the US Mint began experimenting with new designs. It was important that the weight of the coin remain the same because of gold values, so they soon began experimenting with putting a hole in the middle of a larger coin. These plans were scrapped when James Snowden became Mint Director in 1853. His idea was that the coin simply be made wider but thinner, and that James Longacre redesign its faces.
Rare dates in this series include the 1849-C with an Open Wreath on the reverse and most of the coins struck at the Southern Mints at Dahlonega, Georgia and Charlotte, North Carolina.
Report courtesy of NGC
