1 Dollar 'Large Indian Head' Type 3

Congress authorized the gold dollar in 1849, partly to absorb California gold flooding east after the rush. The Type 1 design proved immediately problematic — the thin planchet and shallow relief left the date and LIBERTY nearly unreadable after minimal handling. Type 2, introduced in 1854, was arguably worse, with an even more compressed design that struck poorly from the start. The Type 3, enlarged and recessed to allow better metal flow, appeared in 1856 and remained in production until Congress abolished the denomination in 1889.

By the 1870s, most were being struck for inclusion in proof sets and jewelry rather than commerce.