The Gold Dollar

The gold dollars that were struck from 1849 through 1889 were small coins indeed. In fact, it is amazing that they were not all lost. These coins were 0.900 fine and by law contained 25.8 grains, which is about a twentieth of an ounce. There were only two types of these coins issued, the Liberty Head and the Indian Head, with the Indian Head having two similar designs, but one had a slightly larger head. The gold in these is close to 1/20 of an ounce, and the numismatic value may exceed the value of the gold they contain. When the United States made owning gold coins illegal, many were turned over to the government. Now that they are legal again, few remain. It is difficult to use the mintage to determine how many gold dollars of any year were not melted.