The $1 Gold Coin, Type 1, was minted in the United States from 1849 to 1854. It features a design by James B. Longacre, showcasing a profile of Liberty wearing a "Liberty Head" styled cap. The coin contains approximately 1.672 grams of gold and was intended to facilitate smaller transactions during its time. The Type 1 variant is characterized by its unique design elements and is sought after by collectors for its historical significance and gold content.