$1 Gold Type 1 (Dates/Types Vary)

Representative Image

This is the smallest coin in American history. But what it lacks in size, it more than makes up for in history, beauty, and investment potential.
The 1849 California Gold Rush prompted Congress to approve the creation of gold dollars on March 3, 1849. The design of these coins was assigned to James Barton Longacre, the chief engraver at the U.S. Mint. His design featured Lady Liberty with a small crown (a coronet) and was surrounded by 13 stars representing the original colonies. The reverse side was simple, displaying the denomination and date encircled by the phrase "UNITED STATES OF AMERICA".
This design remained until 1854 before transitioning to an “Indian Head” design, which was again changed two years later. Therefore, there are three different types of gold dollars. The “Liberty Head” version made in 1849-54 is known as the Type 1, and Type 1s have two varieties: the open wreath and closed wreath.
Type 1 gold dollars were minted in Philadelphia, Charlotte, Dahlonega, New Orleans, and San Francisco. Not all mints produced these coins every year, with variations in the quantities produced. For example, the Charlotte and Dahlonega mints issued fewer than 10,000 pieces in 1850 and 1852.
The Dahlonega Mint recorded the smallest production in 1854, issuing just 2,935 coins. Notable scarcities also include the 1853-D, with only 6,583 minted, and the 1851-D, which saw a production of 9,882 coins.
Although available in grades up to MS64, Type 1 gold dollars are rare in higher grades. Their tiny size made them easy to lose but their value and purchasing power were significant, often equal to a full day's wages. Today, these coins are highly valued by collectors for their historical significance and rarity.