United Stated Gold One Dollar and Gold Three Dollar

(1849 - 1889)

Gold has served as money or established the monetary value of currencies longer than other material.  The use of gold coins was widespread in Europe by the fourth century B.C.

The earliest coins circulated in the United States were foreign coins, mostly silver and gold, brought from Europe.  The coinage Act in 1792 established an independent monetary system with the dollar as the basic United Stated monetary unit containing 24 3/4 grains of fine gold, based on th world price of $19.39 a troy ounce (480 grains).  Congress changed the gold specification in 1834 and again in 1837, when it set the dollar price of gold at $20.67 ounce.

Liberty Head Gold Dollar (1849 - 1854)

Coinage of the gold dollar was authorized by the Act of March 3, 1849.  The weight was 25.8 grains, fineness .900. The first type, struck until 1854, is known as the Liberty Head or small sized-type.

In 1934, U.S. citizens were prohibited from holding monetary gold inthe United States; this was extended in 1961 to gold hold abroad as well.  The dollar price was set at $35 per ounce in 1934.  Use of gold in international trade was further restricted as the price rose.  The government revalued it at $38 per ounce in 1972, the $42.22 in 1973.  It has fluctuated widely over the past few years.  All restrictions on holding gold were removed on December 31, 1974.

Indian Princess Gold Dollar (1854 - 1889)

In 1854, the dollar coins were made larger in diameter and thinner.  The design was changed to a feather headdress on a female, generally referred to as the Indian Princess Head or large-sized type.  In 1856, the type was changed slightly by enlarging the size of the head.

------------------------------------------------------------------------------------------------------------

United States Gold $3 or Gold Three Dollar

(1854 - 1889)

Three Dollar Gold Piece (1854 - 1889)

Three Dollar Gold Pieces were issued every year from 1854 yo 1889.  this unusual denomination boasts an indirect tie-in with the stamp collecting community -- the price of a first class postage stamp was 3-cents during the years in which this denomination was minted.  Thus, the $3.00 Gold Piece was perfect for purchasing a complete sheet of 100 stamps.  Only a few dates in this series can be considered common (1854, 1874, 1878) and the majority of the dates in this series have mintages well below 10,000 coins.  Highlights of the series include the unique 1870-S Three Dollar Gold Piece, the Proof-only 1875 and 1876, and the elusive 1854-D (the only Three-Dollar Gold Piece struck at the Dahlonega, Georgia Mint.

Check out and look for my other Identification Guides, on other United States Mint denominations.  Half-Cent, Large Cent, Small Cent, 2,3&20 Cents, Half-Dimes, Nickels, Dimes, Quarters.....   Silver and Gold Coins....    I think you get the picture.  Have fun and enjoy the hobby of collecting coins.