Same Date - Different Type Part VI

In this installment, we'll take a look at several mid-year changeovers in the U.S. gold series that took place during the mid-19th century.

The One Dollar Gold piece, first minted in 1849, went through a rather rapid succession of modifications during its first seven years of issue. The original design proved a bit too small and thick for convenient handling, and after only five years, was modified for a thinner, larger planchet. The so-called Type 2 One Dollar Gold piece entered circulation midway through 1854. The obverse was a modified version of the head from the new $3 gold piece introduced that year, and was approximately 1/16th of an inch broader than the previous design.

Problems with striking the new design surfaced almost immediately. Due to the relief of the design, often large areas of weakness would be evident on new coins, and entering circulation only exacerbated the problem.

As a consequence, yet another redesign was ordered only two years later. Engraver James Longacre, who did the first two designs, embarked on yet a third design, this time almost exactly copying the design of the $3 gold piece. The relief of the head was lowered, and rearranged so that striking issues would be ameliorated. Even though the new design was adopted on January 1, 1856, some 24,600 pieces of the Type II design bearing the 1856 date were struck in San Francisco.

This new design proved satisfactory, and remained in use for the next 33 years, until the denomination was discontinued in 1889.

The other incidence of two different types of gold coins appearing with the same date in the mid-19th century occurred in 1834, in the quarter and half eagle denominations. During the 1820s and early 1830s, most U.S. gold coins were being exported and melted, as the market value of their gold bullion slightly exceeded their "face" value. If the U.S. were to have a viable circulating gold coinage, the "melt" value of its coins would simply have to be lowered below the world market price.

The Act of June 28, 1834 lowered the weight of the quarter and half eagle by approximately 4.5%, and the fineness was reduced from .9167 to .8992. These two modifications were sufficient to remove the incentive to export and melt our gold coinage. Huge quantities of the new design were struck beginning in August, and went into circulation. Most of the few remaining coins of the old design were melted, making them great rarities today.

Our last and final installment of this series will cover the "Same Date – Different Type" occurring in gold coinage during the late 18th and early 19th century.