1849 US Gold Rush

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Smallest U.S. Coin Ever Minted

The smallest coin that the U.S. has ever minted is the 1849-54 One Dollar Gold Coin, which made its debut in 1849. This coin is also the smallest denomination of US gold coins ever minted, and is highly sought out by collectors.

It was the California Gold rush that prompted the government to mint gold dollar coins. The huge supply of gold coming from from California prompted Congress to authorize three new denominations in 1849 - a gold dollar, a three-dollar gold coin and a double eagle (twenty-dollar) gold coin.

The reverse of the gold dollar coin features a portrait of Miss Liberty with a coronet (crown) in her hair. Liberty is encircled by 13 stars, symbolic of the 13 original colonies. The reverse of the coin bears the denomination 1 DOLLAR and the date within a wreath , which is encircled by the inscription UNITED STATES OF AMERICA.

These coins were minted on an annual basis from 1849-54.

When first released int circulation there were many complaints from the public to the dollar’s tiny size. The gold dollar was only thirteen millimeters in diameter - more than 25% smaller than today’s Roosevelt dime. This made the coin easy to lose.

During 1849-54 gold dollars were struck at five different mints — Philadelphia (no mint mark), Charlotte ©, Dahlonega (D), New Orleans (O) and San Francisco (S)

It is estimated that over 12 million gold dollars were minted during the 6 year period of their production. However, only about 300 examples of these coins in uncirculated conditon have been found.

Many collectors collect this coin by type or variety of which there are several. For example, there is is the Closed Wreath variety, the Open Wreath variety, the “No L” variety, the Small Head and the Large Head.

SPECIFICATIONS:

Diameter: 13 millimeters

Weight: 1.672 grams

Composition: .900 gold, .100 copper

Edge: Reeded

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