1862 $1 One Dollar Gold Coin (Atlered)

Please see photos for more details regarding the condition of the coin. Please note, the coin has a hole punched thru it.

The gold dollar was produced from 1849 to 1889. 1849 to 1853 gold dollar coins were 13 mm across and are called Type I. Type II gold dollars were thinner but larger at 15 mm diameter and were produced from 1854 to 1855. The most common gold dollar are the Type III and started in 1856 until 1889. Production US $1 gold dollars was high until the Civil War and by 1863, only the larger value gold coins were produced in large quantities. Most gold coins produced from 1863 and onward were produced for imports to pay for enormous amounts of war material and interest on some U.S. Government bonds. Many of these coins from the Civil War and after (silver coins included) are in excellent condition since they saw very limited circulation with greenbacks and postage currency taking their place.

Composed of 90% pure gold, it was the smallest denomination of gold currency ever produced by the United States federal government. When the U.S. system of coinage was originally designed there had been no plans for a gold dollar coin, but in the late 1840s, two gold rushes later, Congress was looking to expand the use of gold in the country's currency. The gold dollar was authorized by the Act of March 3, 1849, and the Liberty Head type began circulating soon afterward. Because of the high value of gold, the gold dollar is the smallest coin in the history of U.S. coinage.

Due to the uniqueness of each item, please refer to the photos provided in this auction. We offer high resolution images of each item rather than a written description of condition.

This item is being shipped from the Pristine Auction warehouse.