| 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. |
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