US Gold Coin Types from 1849 to 1933 Intended for circulation

by Arno Safran

With discoveries of gold deposits at Sutter Mill With discoveries of gold deposits at Sutter Mill along the American River near Sacramento, CA in along the American River near Sacramento, CA in 1848 and the subsequent gold rush, silver coins 1848 and the subsequent gold rush, silver coins rose above face value, the Government decided rose above face value, the Government decided to authorize the striking of a $1.00 and $20.00 to authorize the striking of a $1.00 and $20.00

denomination in 1849.denomination in 1849.

The 1849 Coronet stylized Liberty Head The 1849 Coronet stylized Liberty Head $1.00 gold piece was designed by $1.00 gold piece was designed by

James Barton Longacre. James Barton Longacre.

The $1.00 gold coin was the first The $1.00 gold coin was the first Federal US coin to show the date Federal US coin to show the date

on the reverse.on the reverse.

The 1849 $1.00 gold piece showing the The 1849 $1.00 gold piece showing the closed wreath graded MS-61 by NGC.closed wreath graded MS-61 by NGC.

. .

Reverses of the 1849 gold dollar showing Reverses of the 1849 gold dollar showing the open wreath (scarcer) and closed the open wreath (scarcer) and closed

wreath (more common).wreath (more common).

While only one $20 gold piece was struck in 1849, While only one $20 gold piece was struck in 1849, (and it resides at the Smithsonian in Washington, D.C.), (and it resides at the Smithsonian in Washington, D.C.), some some 688,567688,567 $1.00 gold coins were coined at the $1.00 gold coins were coined at the Philadelphia Mint alone and are collectible in two Philadelphia Mint alone and are collectible in two varieties, the open wreath and closed wreath.varieties, the open wreath and closed wreath.

In 1854 the new Mint Director James Ross In 1854 the new Mint Director James Ross Snowden replaced Robert Maskell Patterson and Snowden replaced Robert Maskell Patterson and decided to “improve” some of our coinage. The decided to “improve” some of our coinage. The $1.00 gold coin was enlarged from 12.7 mm to $1.00 gold coin was enlarged from 12.7 mm to 14.3 mm and the planchet reduced in thickness 14.3 mm and the planchet reduced in thickness proportionally.proportionally.

The 1849 Type 1 and 1854 Type 2 The 1849 Type 1 and 1854 Type 2

$1.00 gold pieces side by side.$1.00 gold pieces side by side.

James Ross SnowdenJames Ross Snowden

The 1854 Type 2 $1.00 gold is not rare. The mintage The 1854 Type 2 $1.00 gold is not rare. The mintage was was 783,943.783,943. The strong demand as a three year type The strong demand as a three year type keeps the cost high. For that reason, AU-58 appears to be keeps the cost high. For that reason, AU-58 appears to be the grade of choice but many certified AU-58 specimens the grade of choice but many certified AU-58 specimens are overgraded and undesirable. That is why one must are overgraded and undesirable. That is why one must grade the coin before you buy the slab.grade the coin before you buy the slab.

An 1854 $1.00 gold Type 2 graded AU-58 by An 1854 $1.00 gold Type 2 graded AU-58 by NGC. This was the nicest of thirty NGC. This was the nicest of thirty specimens seen at the FUN Show.specimens seen at the FUN Show.

Many of the Type II dollars issued in 1854, ’55 & Many of the Type II dollars issued in 1854, ’55 & ’56-S had problems. The dates struck up unevenly ’56-S had problems. The dates struck up unevenly with occasional blurred images. The result was a with occasional blurred images. The result was a

new larger, broader head type first issued in 1856.new larger, broader head type first issued in 1856.

An 1856 Type 3 Gold dollar graded MS-61 by An 1856 Type 3 Gold dollar graded MS-61 by NGC. With $1.00 gold coins, I have found NGC. With $1.00 gold coins, I have found

MS-61’s surprisingly attractive. MS-61’s surprisingly attractive.

The total P Mint mintage of the 1856 $1.00 gold The total P Mint mintage of the 1856 $1.00 gold piece was piece was 1,762, 9361,762, 936. Like the large cent, two . Like the large cent, two

different punches were used to make the 5 in the different punches were used to make the 5 in the 1856 gold dollars; an upright 5 (scarce) and 1856 gold dollars; an upright 5 (scarce) and

slanted slanted 5 (5 (commoncommon))

An 1856 upright 5 gold $1.00 graded MS-61 An 1856 upright 5 gold $1.00 graded MS-61 by NGC. It may be underrated variety as by NGC. It may be underrated variety as only an estimated 33,660 were minted.only an estimated 33,660 were minted.

The two 1856 gold $1.00 reversesThe two 1856 gold $1.00 reverses

showing slanted showing slanted 55 and upright 5. and upright 5.

Unlike the gold dollar denomination, the $2.50 Unlike the gold dollar denomination, the $2.50 Quarter Eagle Liberty type (1840-1907) remained Quarter Eagle Liberty type (1840-1907) remained

ostensibly the same. The obverse was designed by ostensibly the same. The obverse was designed by Christian Gobrecht, the reverse by John Reich.Christian Gobrecht, the reverse by John Reich.

An 1879 Liberty $2.50, grading AU-58 by An 1879 Liberty $2.50, grading AU-58 by PCGS. The mintage for this Philadelphia PCGS. The mintage for this Philadelphia Mint issue wasMint issue was 89,960 89,960 but the date isn’t but the date isn’t

particularly scarce, let alone rare.particularly scarce, let alone rare.

Perhaps the most unusual gold denomination is Perhaps the most unusual gold denomination is the $3.00 gold piece. It’s diameter was 20.5 mm the $3.00 gold piece. It’s diameter was 20.5 mm

and was authorized to ease the purchase of and was authorized to ease the purchase of one hundred 3¢ postage stamps.one hundred 3¢ postage stamps.

An 1878 $3.00 gold piece graded AU-58 by An 1878 $3.00 gold piece graded AU-58 by NGC. With a mintage of NGC. With a mintage of 82,30482,304, this is the , this is the second most common. Most dates are in second most common. Most dates are in

the low four figures and are rare.the low four figures and are rare.

The Gobrecht designed Liberty $5.00 The Gobrecht designed Liberty $5.00 Half eagle was issued from 1839 through Half eagle was issued from 1839 through 1908 with the Philadelphia mint issues being 1908 with the Philadelphia mint issues being the most common. During its long run, the the most common. During its long run, the diameter was reduced from 22.5 mm (1839-diameter was reduced from 22.5 mm (1839-40) to 20.5 mm (1840 to 1908) There were 40) to 20.5 mm (1840 to 1908) There were two major varieties, the two major varieties, the no mottono motto above above eagle (1839-1866) and the eagle (1839-1866) and the with mottowith motto, , IN IN

GOD WE TRUSTGOD WE TRUST (1866-1908). As $5.00 had a (1866-1908). As $5.00 had a lot of spending power during the 19lot of spending power during the 19thth Century, this denomination was among the Century, this denomination was among the most used of our gold series which is why most used of our gold series which is why many of the dates before 1878 are fairly many of the dates before 1878 are fairly expensive in the higher grades (AU-MS-65).expensive in the higher grades (AU-MS-65).

The 1908 Liberty $5.00 Gold piece had a The 1908 Liberty $5.00 Gold piece had a mintage of mintage of 421,874421,874. This specimen was graded . This specimen was graded MS-62 by NGC yet despite its nice original color, MS-62 by NGC yet despite its nice original color, it has a number of surface blemishes. It sells for it has a number of surface blemishes. It sells for a fraction of what an MS-63 or higher graded a fraction of what an MS-63 or higher graded specimens would cost today. specimens would cost today.

After a hiatus of some 34 years in After a hiatus of some 34 years in which the $10 Eagle was suspended, it which the $10 Eagle was suspended, it was resurrected in 1838 with the same was resurrected in 1838 with the same Gobrecht Coronet Liberty obverse and Gobrecht Coronet Liberty obverse and John Reich eagle reverse as seen on the John Reich eagle reverse as seen on the $2.50 and $5.00 gold coins. Like its $5.00 $2.50 and $5.00 gold coins. Like its $5.00 counterpart, the motto counterpart, the motto IN GOD WE TrustIN GOD WE Trust was placed above the eagle beginning was placed above the eagle beginning with the 1866 dated issues. Affordable with the 1866 dated issues. Affordable prices begin with the 1874 issueprices begin with the 1874 issue..

Like the 1908 $5.00 Liberty, Like the 1908 $5.00 Liberty, the 1907 $10.00the 1907 $10.00 Eagle is a transitional date as a new design type Eagle is a transitional date as a new design type

was introduced later the same year.was introduced later the same year.

A 1907 $10 gold Liberty graded MS-62 by A 1907 $10 gold Liberty graded MS-62 by NGC; a nice specimen for the grade and NGC; a nice specimen for the grade and not costly. The mintage was not costly. The mintage was 1,203,8991,203,899..

The resplendent $20 Gold LibertyThe resplendent $20 Gold Liberty

A 1907 Coronet Type 3 $20.00 gold Double eagle graded A 1907 Coronet Type 3 $20.00 gold Double eagle graded MS-63 by NGC. The mintage was MS-63 by NGC. The mintage was 1,451,7861,451,786. The . The

obverses of these larger coins tended to receive more obverses of these larger coins tended to receive more surface scrapes than the reverses. MS-64’s have far surface scrapes than the reverses. MS-64’s have far

fewer scuff marks but they are quite expensive.fewer scuff marks but they are quite expensive.

Between 1850 and 1907 Between 1850 and 1907 Longacre’s Coronet Liberty with Longacre’s Coronet Liberty with

ornate Shield reverse adorned the ornate Shield reverse adorned the $20.00 Double Eagle. During that $20.00 Double Eagle. During that time frame, three minor reverse time frame, three minor reverse modifications occurred; the modifications occurred; the no no

mottomotto with with Twenty D.Twenty D., the , the with mottowith motto with with Twenty D.Twenty D. and the and the with mottowith motto

with with TWENTY DOLLARS. From 1877 on TWENTY DOLLARS. From 1877 on dates tend to become less expensive.dates tend to become less expensive.

President Theodore Roosevelt (1901-President Theodore Roosevelt (1901-1909) was dissatisfied with our coinage 1909) was dissatisfied with our coinage designs and consulted with the noted designs and consulted with the noted sculptor Augustus Saint-Gaudens on ways sculptor Augustus Saint-Gaudens on ways to imbue our coins with fine art and to imbue our coins with fine art and functionality at the same time. The result functionality at the same time. The result was the beautiful Striding Liberty Double was the beautiful Striding Liberty Double Eagle introduced in 1907, (the final year of Eagle introduced in 1907, (the final year of the Liberty design). The new coin was the Liberty design). The new coin was struck first in high relief with Roman struck first in high relief with Roman numerals and later that year with Arabic numerals and later that year with Arabic numerals in lower relief. The latter version numerals in lower relief. The latter version is easily the more affordable and is easily the more affordable and accessible.accessible.

The SculptorThe Sculptor

Augustus Saint-GaudensAugustus Saint-Gaudens

Saint-Gaudens’ Striding LibertySaint-Gaudens’ Striding Liberty

A 1907 Saint-Gaudens $20 Gold Piece graded A 1907 Saint-Gaudens $20 Gold Piece graded MS-62 by NGC; a better than average specimen MS-62 by NGC; a better than average specimen

for this grade. The mintage was for this grade. The mintage was 361,667361,667..

Saint-Gaudens also prepared the new Saint-Gaudens also prepared the new Indian Headdress design for the $10 Eagle.Indian Headdress design for the $10 Eagle.

A 1907 $10 Eagle. A 1907 $10 Eagle. 239,406239,406 were minted. were minted. This specimen was graded MS-61 by NGC This specimen was graded MS-61 by NGC

and is remarkably free of blemishes.and is remarkably free of blemishes.

Saint-Gaudens died later in 1907 but he had many Saint-Gaudens died later in 1907 but he had many students and admirers who continued his tradition. students and admirers who continued his tradition. One of them was Bela Lyon Pratt who redesigned One of them was Bela Lyon Pratt who redesigned

the $5.00 & $2.50 gold pieces.the $5.00 & $2.50 gold pieces.

The 1908 incuse Indian head $5.00 design of Bela Lyon The 1908 incuse Indian head $5.00 design of Bela Lyon Pratt in its first year of issue. Pratt in its first year of issue. 577,845577,845 were minted in were minted in

Philadelphia. This one was graded MS-61 by IGC and Philadelphia. This one was graded MS-61 by IGC and was the sharpest of those seen in that grade.was the sharpest of those seen in that grade.

The Indian $2.50 quarter Eagle was The Indian $2.50 quarter Eagle was struck from 1908 until 1929.struck from 1908 until 1929.

A 1926 Indian $2½ Quarter eagle; one of the many A 1926 Indian $2½ Quarter eagle; one of the many common dates with a mintage of common dates with a mintage of 446,000. 446,000. This This specimen was graded MS-61 by NGC and was specimen was graded MS-61 by NGC and was

acquired at the SCNA Convention. acquired at the SCNA Convention.

The transition from the 19The transition from the 19 thth to the 20 to the 20thth Century Century style gold pieces provided three transitional dates; style gold pieces provided three transitional dates;

1907 for the $10 & $20 and 1908 for the $5.001907 for the $10 & $20 and 1908 for the $5.00

The 1908 $5.00 Liberty and Indian Head The 1908 $5.00 Liberty and Indian Head obversesobverses

The 1908 Liberty and Indian $5.00 reversesThe 1908 Liberty and Indian $5.00 reverses

The 1907 Liberty and Indian $10 obversesThe 1907 Liberty and Indian $10 obverses

The 1907 Liberty and Indian $10 reversesThe 1907 Liberty and Indian $10 reverses

The 1907 Liberty and Saint-Gaudens The 1907 Liberty and Saint-Gaudens obversesobverses

The 1907 Liberty and “Saint” $20 reversesThe 1907 Liberty and “Saint” $20 reverses

In 1908, over President Roosevelt’s objections, the In 1908, over President Roosevelt’s objections, the motto, “IN GOD WE TRUST” was placed on the motto, “IN GOD WE TRUST” was placed on the

$10.00 and $20.00 gold pieces$10.00 and $20.00 gold pieces..

A 1909-S $20.00 Saint-Gaudens Double Eagle A 1909-S $20.00 Saint-Gaudens Double Eagle showing the motto on the reverse above the sun.showing the motto on the reverse above the sun.

The Saint Gaudens $20 reverses; At left, a1907 The Saint Gaudens $20 reverses; At left, a1907 no mottono motto and at right, 1909-S and at right, 1909-S with motto.with motto.

A basic Liberty Gold setA basic Liberty Gold set

From $1.00 to $20 Gold LibertyFrom $1.00 to $20 Gold Liberty

A Liberty Gold Obverse Type Set A Liberty Gold Obverse Type Set featuring the three $1 typesfeaturing the three $1 types

A Liberty Gold Reverse Type Set A Liberty Gold Reverse Type Set featuring the three $1.00 types featuring the three $1.00 types

Purchasing Power Then & NowPurchasing Power Then & Now

ThenThen NowNow $1.00 in 1854 would be worth $25.00.$1.00 in 1854 would be worth $25.00. $2.50 in 1879 would be worth $53.00.$2.50 in 1879 would be worth $53.00. $2.50 in 1926 would be worth $30.00.$2.50 in 1926 would be worth $30.00. $3.00 in 1878 would be worth $65.00.$3.00 in 1878 would be worth $65.00. $5.00 in 1908 would be worth $115.00.$5.00 in 1908 would be worth $115.00.$10.00 in 1907 would be worth $222.00.$10.00 in 1907 would be worth $222.00.$20.00 in 1907 would be worth $445.00.$20.00 in 1907 would be worth $445.00.

A Basic set of 20A Basic set of 20thth Century Gold Century Gold obversesobverses

From $2.50 to $20.00From $2.50 to $20.00

A basic set of 20A basic set of 20thth Century gold Century gold reversesreverses

From $2.50 to $20.00From $2.50 to $20.00

A basic 20A basic 20thth Century gold Type Set Century gold Type Set

$2.50 $5.00 $10.00 $20.00$2.50 $5.00 $10.00 $20.00

Gold has always been a special commodity Gold has always been a special commodity and on coins the yellow metal brings out the and on coins the yellow metal brings out the

best in the engraver’s artbest in the engraver’s art

The EndThe End