The first coins to be produced in large quantities using gold came from the $1 Gold Coin series from the United States Mint. Among the longest running designs in that series was the Type 3, $1 Indian Head creation. Today, these $1 Indian Head Gold Coins are available through Silver.com.
- Consist of .0483 ounces of .900 gold.
- Issued by the United States government with a face value of $1 (USD).
- Designed by James B. Longacre.
- Available in this product listing with a Mint State 65 grade.
- Limited availability.
- Ships in a protective plastic sleeve.
In 1933, President Franklin D. Roosevelt authorized the collection and melting of all gold coins currently in circulation. His declaration was an effort to stem the tide of the Great Depression by boosting the nation’s financial reserves, and the result was the loss of millions of stunning gold coins. Those which survived, such as this $1 Indian Head Gold Dollar are among the rarest available today.
These gold coins were direct result of the California Gold Rush in 1849. Prior to this time, few gold coins were struck by the US Mint. With a massive influx of gold flooding coffers at the Treasury Department, new designs and coins were rolled out into circulation for use in the American economy.
The $1 Indian Head is part of the $1 Gold Coin series that ran from 1849 to 1889. By 1856, the US Mint had already progressed to a third design, hence the title Type 3 on these coins. These were all produced between 1856 and 1889, the longest production run of any coin in the series.
The image of a Native American in full headdress is featured on the obverse, while the face value and year of minting are on the reverse, surrounded by a wreath. Each coin in this product listing has a Mint State 65 grade, indicating a high quality for luster and strike, with small, scattered contact marks and two larger marks possible on the surface.
If you have questions for a Silver.com associate, please don’t hesitate to reach out at 888-989-7223. We’re also available online through our live web chat and email services. If you are looking for similar products, please check out the other Pre-1933 Gold Coins on Silver.com.