Because of the sudden gold rush Congress needed to expand the use of gold in the country's currency and so Type I gold dollar was created. Type I gold dollar was used from 1849-1854, and was composed of 90 % pure gold. This gold coin features a head of Liberty wearing a beaded crown surrounded by stars. Gold was then very highly valued so these gold coins were the smallest coins in complete US coinage history.
This gold dollar type I was designed by James B. Longacre, and is often called as "Liberty head type" or sometimes just "Type 1" gold dollar. Liberty's head is surrounded by 13 stars and the word "Liberty" is inscribed on her crown. Other side of the coin consists of its value, date and the inscription UNITED STATES OF AMERICA. This gold coin weighs 1.672 grams, and is composed of 90 % of gold and 10 % of copper, containing therefore total sum of .04837 ounces of pure gold.
Their complete mintage was 12,265,73 and they were struck at five different mints-Philadelphia (no mint mark), Charlotte (C), Dahlonega (D), New Orleans (O) and San Francisco (S), of which only the Philadelphia and Dahlonega mints issued them every year.
Type I gold dollars are very rare above average condition and therefore very expensive.
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