In response, Patterson had Mint Second Engraver Christian Gobrecht break off work on the new design for the silver one-dollar coin and work on a pattern for the gold dollar. Woodbury persuaded President Andrew Jackson to have pattern coins struck. He was opposed by the Mint Director, Robert M. Soon after the Bechtlers began to strike their private issues, Secretary of the Treasury Levi Woodbury became an advocate of having the Mint of the United States ("Mint", when described as an institution) strike the one-dollar denomination in gold.
Additional one-dollar pieces were struck by August Bechtler, Christopher's son. Much of the gold then being produced in the United States came from the mountains of North Carolina and Georgia, and the dollars and other small gold coins issued by Bechtler circulated through that region, and were now and then seen further away. In 1831, the first gold dollar was minted, at the private mint of Christopher Bechtler in North Carolina. Congress followed Hamilton's recommendation only in part, authorizing a silver dollar, but no coin of that denomination in gold. In proposing his plan for a mint and a coinage system, Secretary of the Treasury Alexander Hamilton in 1791 proposed that the one-dollar denomination be struck both as a gold coin, and as one of silver, representative of the two metals which he proposed be made legal tender. 7 Final years, abolition, and collecting.The regular issue gold dollar was last struck in 1889 the following year, Congress ended the series.ĭamaged common date gold dollars tend to be worth anywhere from melt value to about US$110 (as of 2017) common dates of higher circulated grades sell for about US$200 while rarer coins in high grades can be worth up to many thousands. It was also in demand to be mounted in jewelry. In its final years, it was struck in small numbers, causing speculation by hoarders. Gold did not again circulate in most of the nation until 1879 once it did, the gold dollar did not regain its place. Silver again circulated after Congress in 1853 required that new coins of that metal be made lighter, and the gold dollar became a rarity in commerce even before federal coins vanished from circulation because of the economic disruption caused by the American Civil War. In its early years, silver coins were being hoarded or exported, and the gold dollar found a ready place in commerce. Congress was finally galvanized into action by the increased supply of bullion caused by the California gold rush, and in 1849 authorized a gold dollar. The Type 1 issue has the smallest diameter (0.5 inch =12.7mm) of any United States coin minted to date.Ī gold dollar coin had been proposed several times in the 1830s and 1840s, but was not initially adopted. The coin had three types over its lifetime, all designed by Mint Chief Engraver James B.
The gold dollar or gold one-dollar piece is a gold coin that was struck as a regular issue by the United States Bureau of the Mint from 1849 to 1889.
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