US Gold Dollars
Gold has been used as money for many years much longer than any other material used for currency. The earliest gold and silver coins used in United States were from Europe. The Coinage Act in 1792 established the dollar as the basic U.S. monetary unit which has 24 3/4 grains of gold, at that time the gold was priced at $19.39 a troy ounce. It was changed a couple of times, one in 1834 and the other in 1837.
Starting 1934, U.S. banned the use of gold as monetary unit and prohibitted all U.S. citizens from holding monetary gold. In December 31, 1974, the restrictions on holding gold were removed.
The first gold dollar coin was struck in 1854, also known as Liberty Head. The weight was 25.8 grains, and .900 fineness, also known as Type 1.
Later on in 1854, the dollar coins were changed to a feather headdress on a female, also known as Indian Pricessness Head or Type 2.
Two years, in 1856, the design was changed again to a larger size of the head also known as Type 3.
The followings are the typical values of US Gold Dollar Coins.
| Very Fine | Extremely Fine | MS-60 | MS-63 | MS-65 | PF-63 | PF-65 | |
|---|---|---|---|---|---|---|---|
| Liberty Head Type 1 (1849-1854) | $150 | $200 | $350 | $1,200 | $5,000 | $150,000 | $250,000 |
| Indian Prince Head Type 2 (1854-1856) | $350 | $450 | $3,000 | $11,500 | $35,000 | $200,000 | $300,000 |
| Indian Prince Head Type 3 (1856-1889) | $150 | $200 | $300 | $1,00 | $2,800 | $5,000 | $10,000 |
Very Fine: Liberty on headband is complete and legible. Knobs on coronet visible
Extremely Fine: Slight wear on Liberty’s hair. Knobs on coronet sharp
MS-60 Uncirculated: No trace of wear. Minor blemishes
MS-63 Choice Uncirculated: No trace of wear. Some distracting contact marks.
MS-65 GEM Uncirculated: Above average uncirculated coin, with very few contact marks.
PF-63 Choice Proof: No major flaws, only small blemishes in secondary areas.
PF-65 GEM Proof: Extremely fine surface. No noticeable blemishes or flaws. Some very small marks.