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$1 Gold Type 3

The U.S. Mint produced its Type 3 gold dollar from 1856 to 1889. It was the longest-running of the gold dollar series, improving on the durability issues of the earlier Type 1 and Type 2 versions. Today, both investors and collectors prize these early gold coins. For collectors, they are a unique example of America's numismatic history, with an attractive design. For the former, they offer some privacy benefits when putting together a precious metals portfolio. Mint State Gold's Type 3 dollars are certified to be in Mint State (MS) condition by either the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS). You can shop with confidence in our online store, or contact our office for assistance from one of our knowledgeable representatives.

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About Type 3 Dollars

The gold dollar series began in 1849 following the discovery of gold in Sutter's Mill, California — an event that sparked the beginning of that state's gold rush and encouraged the Mint to incorporate American gold into more coinage. Numismatists divide the gold dollar into three types. Type 1 was in production from 1849 to 1854, during which time the coin drew numerous complaints that, at less than three-quarters the size of today's dimes, it was too small and too easy to lose. The larger Type 2 ran from 1854 to 1856 but was beset by minting and durability problems due to its thin profile.

U.S. Mint Chief Engraver James Barton Longacre led the development of the Type 3 gold dollar in 1856. It features a larger, flatter design that was less prone to wear and tear. It maintains many of the same elements of the short-lived Type 2 dollar, namely the "Indian Princess" on the obverse and the wreath on the reverse.

Production and Circulation

Production exceeded more than 1 million business strike coins in 1856 and again in 1862, with most of the minting occurring at the Philadelphia, Charlotte, and Dahlonega facilities. Production fell off significantly following that, in part due to the uncertainty caused by the escalating Civil War. However, the Type 3 Gold Dollar did manage to remain in circulation until 1889, and many examples from later years can be found today on the collectors' market.

Collecting Type 3 Gold Dollar Coins

The gold dollar coins of 1856-1889 are the smallest gold coins, in both size and denomination, ever produced by the U.S. Mint. This alone makes them a fascinating object of study for collectors. The Type 3 was the most widely circulated and is the easiest to find today. If you're interested in collecting gold dollars or other rare U.S. coinage, Type 3 is an ideal place to start.

With more than 50 years' experience, Mint State Gold is a reliable source of gold coins for collectors and investors alike. Let us help you build your portfolio or find that rare coin to add to your collection. Check out our full selection of products by exploring our online store today. Feel free to contact us for more information on any of our coins.

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