Gold $1 Sized to Correlate with $20

■ In 1854, the diameter of the gold dollar was increased following public outcry. Why wasn’t the coin larger when it was introduced in 1849?

According to Walter Breen in his book, Major Varieties of US Gold Dollars, “[US Mint Director Robert M.] Patterson or someone forced on him [mint engraver James B. Longacre] a requirement that the dies be a suitable size to produce gold dollars of half inch diameter, apparently in conformity with the size-diameter ratio fixed for the double eagle.”

■ Why was the first Indian design for the gold dollar changed so quickly, having been issued for only three years (1854 to 1856)?

There were problems of weak striking that plagued the Type Two gold dollar coins right from the beginning. The obverse portrait is directly opposite the central letters “LL” in “DOLLAR” on the reverse. It also appears that little if any consideration was given to testing the new design before it went into production.

■ Mintages have little to do with the number of surviving coins. Why do these statistics appear in coin catalogs?

The mintage statistics appear in coin catalogs by tradition rather than because they help identify the scarcity of a coin. Collectors need to be cautious when viewing these figures since they don’t reflect the number of surviving examples and lack information on the condition in which to expect to encounter that coin. Furthermore, mintage figures may be based on the number of coins shipped in a year, rather than on the number minted.

■ Do we know who was the first collector of U.S. coins?

In 1907, the Chapman brothers in Philadelphia auctioned the collection of Matthew A. Stickney (1805-1894). Henry Chapman wrote, “[Stickney] was probably the first person in America to form a systematic collection of the various dates in the several series.” There were earlier collectors, but they were eclectic rather than systematic as Stickney was.

■ Who were the Chapman brothers? Henry and Samuel Chapman opened their coin store in 1878 in Philadelphia. The brothers started publishing illustrated auction catalogs in 1879. Three years later, they began offering detailed descriptions of each coin. Samuel retired in 1929. Henry continued the business until his death in 1935.

■ Who conducted the first coin auction in the United States?

Matthew Clarkson and Ebenezer Hazard auctioned “A mahogany cabinet containing ancient and modern gold, silver, and copper coins and medals” as lot number 19 in their March 19, 1785, public sale in Philadelphia. The collection was assembled by Pierre Eugene du Simitiere (1737-1784).

■ Why were gold and silver dollar coins produced during the same time from 1849 through 1889?

Silver coins were being pulled from circulation and melted due to their intrinsic value at the time two gold rushes were being experienced during the late 1840s in the United States. The silver dollar had been resurrected in 1840, but by the late 1840s was being exported just as a glut of gold came onto bullion markets. Anxious to expand the use of gold in our currency system, Congress authorized a gold dollar by the Act of March 3, 1849.