Login

CoinHunter's Blog

25 Jan 2021

The REAL gold dollar

Coins | CoinHunter

Hi guys! Today my blog is going to be about gold dollars, so let's begin. The gold dollar, the smallest denomination regular issue US gold coin, first appeared in 1849, when the government introduced two new denominations, the dollar and double eagle, to exploit wast quantities of yellow metal coming to the East from the California Gold Rush. Gold dollars were minted continuously from 1849 through 1889, although mintages were largely restricted after the Civil War. Today most of the demand for gold dollars comes from type coin collectors, who desire one each of the three different design variations. Type I gold dollars, with Miss Liberty's portrait identical to that used on the $20 double eagle, were made from 1849 through 1854, while Type II dollars, with an Indian princess motif, were struck in 1854 and 1855, plus in 1856 at the San Francisco Mint only. Type III dollars, featuring a modified portrait of an Indian princess, were made from 1856 through 1889. In the early years, from 1849 through the Civil War, the gold dollar was a workhouse denomination. Those of the Type I design, 13 mm in diameter, were used often in everyday change, and most examples seen today show wear. In 1854 the diameter was enlarged slightly to 15 mm, to make the coin more convenient to handle. The Indian princess design, introduced that year, created problems, as it was not possible for the metal in the dies to flow into the deep recesses of Miss Liberty's portrait on the obverse and at the same time into the central date digits on the reverse, with the result that the majority of pieces seen today are weakly struck on the central two digits (85 in the date 1854, for example). To correct this, the Type II portrait, with Miss Liberty in shallower relief, was created in 1856. Among the three design types of gold dollars, by far the scarcest is the Type II. The total mintage of type II gold dollars amounted to fewer than 2 million pieces. Contrast that to the Type I gold dollar, for which over 4 million coins were struck at the Philadelphia Mint in 1853 alone! Similarly, the Type III gold dollar was minted in quantities far larger than the Type IIThanks for reading my blog, I hope you learned something, and have a great day! Source PCGS CoinFacts

READ MORE
01 Jan 2021

The First Nickel, the Shield Nickel

Coins | CoinHunter

Todays blog is about the Shield Nickel.The act of May 16, 1866 authorized a new five cent coin made of 25% nickel and 75% copper. This created the unusual situation where two coins of the same value circulated at the same time (the other coin being the Half Dime). A massive quantity of nearly 15 million "Nickels" was produced in the first year, partly to promote the new coin and partly because of the availability of nickel and copper compared to the higher cost of silver for Half Dimes.the first versions of the new Nickel had rays on the reverse, between the stars surrounding the large 5 in the center of the coin. These extra elements caused the coinage dies to fail early because of the extra pressure needed to strike the nickel alloy and to force the metal into the recesses of the dies. To correct this problem, mint officials ordered the removal of the rays in mid-1867, creating two varieties: With Rays and No Rays, both of which you will need for a type set. Striking problems persisted, resulting in a series of coins noted for inconsistent strikes and lots of die cracks.Thanks for reading my blog and have a happy new year!-Source: PCGS CoinFactsPhoto courtesy of PCGS

READ MORE
We use cookies to provide users the best experience on our website. If you continue without changing your cookie settings, we'll assume that you agree to receive all cookies on money.org. You may disable cookies at any time using your internet browser configuration. By continuing to use this website, you agree to our privacy policy and terms of use. To learn more about how we use cookies and to review our privacy policy, click here.