1849 Liberty Head Gold $1 Coin

In 1849, the United States Mint would begin striking the smallest coin it has ever struck to this day – the $1 Liberty Head gold coin. A 13-millimeter, 1.672-gram regular-issue gold coin designed by United States Mint Chief Engraver James B. Longacre (who also designed the Indian Head cent and two-cent coin), this tiny piece was issued in three types over the course of its 1849 through 1889 production period. The gold dollar was instituted just as the Gold Rush kicked off in California and gold became more readily available.

The 1849 gold dollar was struck in the following quantities:

• 1849 Opened Wreath, with “L,” 668,567 minted – $367

• 1849 Open Wreath, no “L,” mintage included above – $367

• 1849 Closed Wreath (ends are closer to the numeral), mintage included above – $367

• 1849-C Closed Wreath, 11,634 – $1,300

• 1849-C, Opened Wreath, mintage included above but exceedingly rare – Sold at auction in 2004 for $690,000 in July 2004

• 1849-D, Opened Wreath, 21,588 – $1,500

• 1849-O, Opened Wreath, 215,000 – $410

*Values are for coins in Very Fine 20 condition, unless otherwise noted.

About 20 million gold dollar coins were made over the course of the denomination’s 41-year lifespan of which more than 90 percent were made at the Philadelphia mint. New Orleans struck the lion’s share of the other pieces, with Charlotte, San Francisco, and Dahlonega producing relatively small quantities.