1849 Gold Dollar - The 1849 Gold Dollar came with several varieties. The first was the Open Wreath, Small Head, No L (for Longacre) variety. It has an estimated mintage that is somewhat more than 1,000 pieces. Production was stopped by Robert Patterson, the Mint Director because he felt that the relief was too high and it would lead to striking problems. In the Open Wreath variety, the wreath ends just after the S in STATES and just before the A in AMERICA. The Small Head, No L is rare in MS66 and finer. There are 2 prooflikes and 1 deep prooflike certified.

The 1849 Gold Dollar Open Wreath, Small or Large Head, With L variety actually has the same size heads but different placement of the stars and dentils. The “Small Head” is the rarer of the two. Both types are more difficult to find than the than the Close Wreath.

The 1849 Gold Dollar Close Wreath was used from 1849 in Philadelphia and 1850 in the branch mints until the end of the series. The 1849 Gold Dollar Close Wreath ends after the A in STATES and is just under the O in OF. It is seen more often than the Open Wreath variety in circulated condition.

The California Gold Rush began when gold was discovered in 1848 at Sutter’s Mill in Coloma California. By 1849 tens of thousands had come to the West from the United States and abroad. At first gold nuggets could be picked up from the ground. Later it was recovered from streams and riverbeds using panning. Even more sophisticated methods were used later.