The immense finds of gold in California in 1848 had a major affect on U.S. history, including the nation's official gold coinage. Two new gold denominations were authorized within a year of the first gold finds, under the Act of March 3, 1849: the gold dollar, and the gold $20 double eagle.

The U.S. Mint struck three distinctly different gold dollars from 1849 to 1889.

The first depicts a Coronet Head style Liberty on the obverse and an open-ended wreath on the reverse. The Coronet gold dollar was designed by James Barton Longacre, the Chief Engraver of the U.S. Mint during the mid 19th century (he also designed such coins as the Flying Eagle and Indian Head cents, and the Indian Head $3 gold coin).

The first gold dollar measures 13 millimeters in diameter, making it - to this day - the smallest U.S. coin in size. It was so small, in fact, that it proved difficult to handle.

The Coronet gold dollar was produced from 1849 to 1854.

In 1854, Mint officials changed the coin's design and increased its diameter from 13mm to 14.86mm.

The new designs are also by Longacre. He used his standard Liberty portrait but changed her headgear from a Coronet  to a feathered Indian headdress. Longacre used the same Liberty portrait on a variety of denominations, changing her headdress to change her overall appearance (although the facial features are obviously similar from denomination to denomination). Longacre also placed a different wreath on the reverse.

Both types - Coronet and Indian Head - were struck in 1854, although only the Philadelphia Mint struck both.

The Indian Head design was used just three years, from 1854 to 1856, before a new obverse portrait was introduced.

This new design also features an Indian Head portrait of Liberty, though significantly larger than the first Indian Head design. The Large Head design is not simply an enlargement of the Small Head design. While the Large Head portrait retains Longacre's standard Liberty portrait, it differs slightly in the details from the Small Head portrait.

Both designs were produced in 1856.

The Large Head type was produced from 1856 through 1889, when the denomination was discontinued.

Collectors used to modern U.S. coins will find one significant difference between the gold dollar and the current denominations: The date appears on the reverse of the gold dollar, not the obverse.