1861

Philadelphia delivered 527,499 gold dollars in 1861, a sharp increase from the previous year that reflected the Civil War's impact on American monetary policy. Fort Sumter fell in April. Hoarding of gold and silver began almost immediately as the public lost confidence in paper currency, and the gold dollar's value as a compact, tangible store of wealth drove demand. The government would suspend specie payments in December 1861, making gold coins disappear from everyday circulation. Those struck in 1861 were among the last gold dollars to be used as intended: actual spending money.

The 1861 Philadelphia is available in circulated grades. The high mintage produced a healthy survival population, and Good to Extremely Fine examples can be found without difficulty. Uncirculated coins are somewhat scarce, as the wartime hoarding that preserved some coins also sent many into hiding at low grades. The 1861 marks the beginning of a strange period in the gold dollar's history: the coins were still being produced, but they no longer circulated at face value.