The first Gold Dollars debuted in 1849, the result of a large influx of gold from California. The first versions are of the Open Wreath variety, showing the tips of the wreath distant from the 1 of the denomination. Later in the year, the Closed Wreath variety became the design of choice and was used until the end of the Type I series in 1854. The 1849 Open Wreath design includes both the With L and the No L varieties (these refer to the designer's initial which appears, or does not, on the truncation of the bust). Apart from the single No L variety, researcher John Dannreuther has identified three different With L varieties.
PCGS alone has certified well over 1,000 1849 Open Wreath Gold Dollars, allowing collectors to choose from large numbers of MS62 to MS64 examples. Even Gems are relatively common, but MS67 and better examples are exceedingly rare. For mind-blowing quality, there's always the PCGS MS69 -- one of the finest Gold Dollars of any date.