1857-S Gold Dollar - The 1857-S Gold Dollar had a moderate mintage of 10,000 pieces. It is moderately scarce in circulated condition and rare in Mint State. NGC has certified 15 uncirculated examples and PCGS has 7. The highest are 2 in MS64, one by each grading service.

Specifications:
Edge: Reeded
Weight: 1.672 grams (25.8 grains) (.0538 troy ounces)
Diameter: 15 millimeters
Composition: 90% gold; 10% copper
Gold Content: 1.505 grams (23.22 grains) (.0484 troy ounces)

The Panic of 1857 took place. It took place because of the declining international economy and the rapid expansion of the domestic economy. It was the first world-wide economic crisis. The Ohio Life Insurance and Trust Company failed, and financial panic spread. In England, the government circumvented the law that required it to have gold and silver reserves to support the money in circulation, which set off a panic in Britain.

In the West the price of grain declined significantly causing farmers a loss in revenue and necessitating the sale of land to raise cash. Land sales decreased and eventually halted until the Panic ended. A recovery did not take place until the Civil War.