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Also, the small California Gold coins and tokens have been made in many locations other than California, often with a claim of being from California on the piece and these items are generally labeled as California Gold Coins or Tokens. Coin-like ingots were produced from 1849 until 1856 in denominations of $1, $5, $10, $20, $25, and $50.
The gold dollar or gold one-dollar piece is a gold coin that was struck as a regular issue by the United States Bureau of the Mint from 1849 to 1889. The coin had three types over its lifetime, all designed by Mint Chief Engraver James B. Longacre. The Type 1 issue has the smallest diameter (0.5 inch =12.7mm) of any United States coin minted to ...
The Coinage Act of 1849 was an Act of the United States Congress passed during the California Gold Rush authorizing the Mint to produce two new gold coins in response to the increased gold supply: the small gold dollar and the large double eagle worth twenty dollars. The Act also defined permissible variances in gold coinage.
The mint was established in response to the California gold rush. [1] Within the first year of its operation, the San Francisco mint turned $4 million in gold bullion into coins. [2] Because of the scale of its increase in operations due to economic growth, a new building was soon required.
The California gold rush (1848–1855) was a gold rush that began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. [1] The news of gold brought approximately 300,000 people to California from the rest of the United States and abroad. [ 2 ]
The face value of the coins totaled $27,980, but was assessed to be worth $10 million. The hoard contains $27,460 in twenty-dollar coins, $500 in ten-dollar coins, and $20 in five-dollar coins, all dating from 1847 to 1894. The collection is the largest known discovery of buried gold coins that has ever been recovered in the United States. [1]