PCGS 7557 - 1860-S G$1
The introduction of the gold dollar in 1849 filled a desperate need as silver dollars were hoarded, being overvalued, and paper dollars issued by the aptly named "broken banks" were not trustworthy. However, by 1860, matters had adjusted such that silver coin now circulated in a normal manner and the gold dollar became less wanted. Consequently, mintages dropped. Numismatists divide the gold dollar issues into three type: type I (1849-54), 13 mm diamter, type II (1854-56), 15 mm diameter, and type III (1856-89), 15 mm diameter with a revised headdress. This date, tho the most common for San Francisco, is scarce. The gold dollar was finally dropped in 1889, long after it had become useless. The contributor who posted these images noted, "Est. MS population 35-45 Est. Circulated Population 250-400. Few MS coins survive, entire mintage was placed into circulation. Circulated grades mostly EF and AU. Usually well struck, some MS coins are Prooflike."
Recorded mintage: 13,000.
Specification: 1.67 g, .900 fine gold, .048 troy AGW, 19 mm diameter, reeded edge, designed by James Longacre.
Catalog reference: KM 86.
- Breen, Walter H., Walter Breen's Complete Encyclopedia of U. S. and Colonial Coins, New York: Doubleday, 1987.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
- Yeoman, R. S., and Kenneth Bressett (ed.), A Guide Book of United States Coins, 59th Ed., Atlanta, GA: Whitman Publishing, 2005.