1862 GOLD DOLLAR LOVE TOKEN CIRC.

SHOWN HERE FOR YOUR CONSIDERATION IS A VERY DESIRABLE 1862 GOLD DOLLAR LOVE TOKEN. DON'T MISS THIS QUALITY CIRC. COLLECTOR COIN. FILL THAT HOLE IN YOUR COLLECTION TODAY .

GOLD DOLLARS 1849-1889 Coinage of the gold dollar was authorized by the Act of March 3, 1849. The weight was 25.8 grains, fineness .900. The first type, struck until 1854, is known as the Liberty Head or small-sized type. In 1854 the piece was made larger in diameter and thinner. The design was changed to a feather headdress on a female, generally referred to as the Indian Head or large-sized type. In 1856 the type was changed slightly by enlarging the size of the head. GOLD Gold has served as money or established the monetary value of currencies longer than any other material. The use of gold coins was widespread in Europe by the fourth century B.C. The earliest coins circulated in the United States were foreign coins, mostly gold, brought from Europe. The Coinage Act in 1792 established an independent monetary system with the dollar as the basic United States monetary unit containing 24 3/4 grains of fine gold, based on the world price of $19.39 a troy ounce (480 grains). Congress changed the gold specification in 1834 and again in 1837, when it set the dollar price of gold at $20.67 an ounce. In 1934, United States citizens were prohibited from holding monetary gold in this country; this was extended in 1961 to gold held abroad as well. The dollar price was then set at $35 per ounce. Use of gold in international trade was further restricted as the price rose. The government revalued it at $38 per ounce in 1972, then $42.22 in 1973. It has fluctuated widely over the past few years. All restrictions on holding gold were removed in 1975. INDIAN HEAD TYPE, Small Head 1854-1856 Standards same as previous issue. Diameter changed to 15 mm. INDIAN HEAD TYPE, Large Head 1856-1889

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