United States $1, $3, $4 Gold Coins

United States $1 gold coins were a brief and fairly unpopular series minted between 1849 to 1889. The concept for the $1 gold coin was originally proposed by Alexander Hamilton in 1791. It was supposed to run alongside the $1 silver coin to represent the two legal tender precious metals at one of the most commonly used dollar amounts. Three variations on the $1 gold coin exist, all of which were designed by James Longacre, the fourth chief engraver.

The $3 gold coin, also designed by Longacre, only had one style across its lifespan. However, it did have several important variations such as the 1873 open and closed 3 varieties. Minted from 1854 to 1889, the $3 coin was widely unpopular and only really found use on the West Coast where paper money was scarce and rarely used. One of the biggest obstacles to the $3 coin was the existence of the more popular quarter eagle, or $2.50 gold piece.

Stellas, as the $4 gold coins were known both officially and colloquially, were pattern coins that were never meant to be released. Several hundred were sold illicitly to congressmen and entered circulation thereafter. Originally designed with an eye towards joining the Latin Monetary Union in 1879 and 1880, Stellas were produced in two variations designed by Charles Barber and George Morgan.

Quick Facts

• The first run of the $1 gold coin ranks as the smallest legal tender United States coin ever minted. The diameter is just 12.7 millimeters
• The sales record for a $3 coin is currently held by an 1855-S cameo proof, which sold at auction in 2011 for just over $1.3 million
• An 1880 Stella sold at auction for $1,821,250 in April 2015. The particular pattern auctioned is believed to be one of only 10 ever made