The Allure of the San Francisco Mint Gold Dollars: Rare and Valuable Coins
- Larry Ayer
- Aug 22
- 4 min read
Among the captivating stories of coins, the seven gold dollars minted at the San Francisco Mint stand out. These coins are not just pieces of metal; they are symbols of a unique American legacy. With only seven gold dollars ever produced and a distinct variety of design types, collectors are drawn to their scarcity and beauty. In this post, we will explore these remarkable coins, highlighting their significance and what makes them so sought-after by collectors.
The History behind the San Francisco Mint Gold Dollars
The San Francisco Mint was established in 1854 to address the surge of gold from the California Gold Rush. This mint quickly became a crucial institution in American history, processing massive quantities of gold. Among its outputs, the seven gold dollars became iconic, perfectly capturing the spirit and craftsmanship of the era.
The Three Design Types
The seven gold dollars encompass three notable design types:
Type One: 1854 only
Type Two: 1856 only
Type Three: 1857 through 1860 and 1870
This diversity makes the set particularly desirable for collectors. Enthusiasts can build a collection on a budget with lower-grade coins, while those with deeper pockets may seek higher-grade uncirculated specimens.
The 1854-S Gold Dollar
Overview
The 1854-S gold dollar is the first of its kind, with only 14,632 minted. An estimated 250-350+ of these coins still exist today, making it the 6th of 7 in rarity.
Design and Characteristics
This coin's significance stems from its status as the first gold dollar produced by the San Francisco Mint. It boasts a rich orange-gold hue with hints of rose undertones. Experts appreciate its excellent strike and frosty luster, making it a beautiful addition to any collection.
Market Insights
Many 1854-S gold dollars were preserved as souvenirs, leading to a surprising number available in uncirculated condition. At least four to five dozen are graded MS60 to MS63, with around six to seven achieving MS64. The top-tier MS65+ example fetched $56,400 at the 2015 Heritage ANA auction.
For those starting their collections, AU examples can be found for under $2,000. If aiming for higher-grade coins, expect to invest between $12,500 and $15,000 for an MS64, with these rarities surfacing about once a year.
The 1856-S Gold Dollar
Overview
The 1856-S is notable as the sole Type Two issue among the seven gold dollars. With a mintage of 24,600 and approximately 300-400+ known survivors, it ranks as the 7th of 7 in rarity.
Design and Characteristics
The 1856-S features intricate designs, showcasing the artistic sensibilities of its time. This unique visual appeal makes it a coveted item for many collectors.
Market Insights
Collectors prize the 1856-S for its limited mintage and distinctive Type Two classification. Its value can fluctuate significantly, especially for higher-grade specimens. While AU examples remain accessible, prices can escalate for uncirculated coins, depending on demand.
The Type Three Gold Dollars
Overview
The Type Three gold dollars were produced between 1857 and 1860 and again in 1870. Although a couple had larger mintages, certain dates within this group still command high prices due to their rarity.
Design and Characteristics
The Type Three design introduces a more modern look, representing the transitional phase in America's coinage. Collectors admire its craftsmanship, which showcases the evolving art of coin design.
Market Insights
In the seven coin San Francisco Mint Gold Dollar Set, the Type Three issues hold the three rarest dates. 1870-S (3,000 minted), 1857-S (10,000 minted), 1858-S (10,000 minted). These specific dates or well-preserved examples can fetch premium prices, drawing the interest of dedicated collectors. There is an interesting side note about the 1870-S. The new dies came from Philadelphia and were shipped to the San Francisco Mint. The first two dies sent did not contain the "S" and 2,000 coins were minted in San Francisco without the "S" mintmark before correct dies were received. The mint director asked his boss if he should put into circulation the non-S coins but we do not know what the answer was. The very low 3,000 coin mintage might include these 2,000 coins. Possibly there were only 1,000 coins with the correct mintmark minted. For sure the 1870-S is a rarity and the 1857-S and 1858-S are undervalued.
A Journey Through American Numismatics
The story behind San Francisco's seven gold dollars is a blend of rarity, artistry, and history. Each coin holds a narrative of an era when gold symbolized wealth and opportunity in America. For both seasoned collectors and newcomers, these coins provide a fascinating glimpse into the past.
As interest in numismatics continues to flourish, the demand for these coins shows no signs of diminishing. The San Francisco gold dollars remain a compelling addition to any collection, combining unique designs with deep historical significance. Their allure endures, promising to captivate collectors for generations to come.
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