1851-P 1 Dollar Gold Liberty Type I NGC AU58

The First of the American Gold Dollars, Courtesy of the California Gold Rush!

Prior to 1849, there was never enough gold available for the United States Mint to strike currency from the precious metal. During that time, small gold coins from Spain circulated widely in commerce. They were even considered U.S. legal tender all the way up to 1857!

That all changed with the California Gold Rush. With freshly mined gold flowing into the mint in large quantities, the first U.S. Gold Dollars were minted in 1849. At 13 millimeters in diameter, these Liberty Head Gold Dollars (now known as Type I Gold Dollars) still remain the smallest gold coins ever struck for circulation by the U.S. Mint.

These first gold dollars turned out to be extremely popular! Too small in denomination for large overseas transactions, most of these coins circulated within the U.S. until they wore out. Unfortunately, that timetable would prove to be pretty short -- due to their smaller size, gold dollars were often preferred to their much larger, heavier silver dollar brethren. As a result, many were damaged, lost and destroyed.

It was because of this heavy use that the series was updated in the latter part of 1854 with a larger diameter and easier-to-strike design. This updated coin would become known as the Type II design, featuring the profile of Liberty in an Indian princess bonnet. However, many of the Type 1 Gold Dollars that were produced were removed from circulation and melted down for the new series.

More than 160 years later, finding these coins at higher grades can be difficult. Fortunately, our buyers have found several Type I Gold Dollars from 1851, each graded About Uncirculated-58 (AU58) by Numismatic Guaranty Corporation (NGC). Your gorgeous gold dollar will come sonically-sealed in an acrylic holder, protecting your coin's graded condition for generations to come. It's a beautiful coin from a bygone era -- add it to your collection now!