American Gold Dollar Coins Gold dollar coins were created in the United States of America from 1849 until 1889. These coins have 90% pure gold content and were considered as the smallest of the gold currency denominations ever fashioned by the national government of the United States of America. During the late years of 1840, the Congress considered expanding the utilization of gold in their coinage. The gold dollar coins were then approved by the Act of March 3, 1849. Consequently, the Liberty Head Type started circulating. The unexpected accessibility of gold prompted the US government to formulate a new currency system. Gold coins were imprinted in numerous quantities. It was in 1830s when the first gold dollars were issued, but not by the US government. The first form of gold dollar coins is known as the Liberty Head Type which is fashioned by James B. Longacre. The frontage of the coins features the head of the Lay of Liberty surrounded by 13 stars which represents the first 13 states of the Union. She looks to the left with a circlet emblazoned with the statement ”LIBERTY”. With help of Peter Filatreu Cross, the design on the reverse side shows a wreath around the date and worth of the coin, and the inscription reads “UNITED STATES OF AMERICA”. It weighs 1.672 grams and is composed of .900 gold and .100 copper. However, there is a problem with this type. The old Liberty Head Type is 13 mm in diameter. It was considered as the smallest coin in the history of the United States. Due to its size, it could be lost easily. Consequently, numerous citizens were greatly critical of the latest coin. The nominal value of the coin is equal to $26.31 at the present time. In 1854, a newly designed gold dollar was issued by the US Mint. It has a diameter of 15 mm. As intended, its weight and composition was not changed. He made a new obverse with the head of the “Indian Princess”. It is later called as the Indian Head Type. On the other hand, the suggestion that the head is actually that of a Roman marble figure was pushed by historians. That is why a feather headdress was added by Longacre. The back of the gold dollar coin was also slightly customized. The inscription “UNITED STATES OF AMERICA” is now seen on the obverse. However, the wreath design was maintained. The gold dollar coins are worth more than their nominal value. The year it was manufactured and the grade determine the real value of the Liberty head Type and the Indian Head Type. The former of average condition and regular date is worth at least $250. However, the 1852C can reach as high as $40,000 dollars. On the other hand, the cost of the Indian Head Type is in accordance with its size as well. The small average conditioned Indian princess is worth at least $335. The 1854 and 1855 costs as much as $115,000. The large Indian princess of average condition only costs $290. However, 1858D dollar coin’s rate can reach up to $59,000.