 Since gold did not circulate in the United States ( except on the West Coast ) in the postwar period , much of the production of coins of that metal in the United States was double eagles for export . Accordingly , although 1 @,@ 361 @,@ 355 gold dollars were struck in 1862 — the last time production would exceed a million — the mintage fell to 6 @,@ 200 in 1863 and remained low for the rest of the coin 's existence , excepting 1873 and 1874 . The Mint felt it improper to suspend coinage of a coin authorized by Congress , and issued proof coins ( generally a few dozen to the tiny numismatic community ) from specially @-@ polished dies , also producing enough circulation strikes so that the proof coins would not be <unk> rare . In 1873 and 1874 , old and worn gold dollars held by the government were melted and <unk> , generating large mintages of that denomination . This was done in anticipation of the resumption of specie payments , which did not occur until the end of 1878 . Once specie again circulated at face value , the gold dollar found no place in commerce amid large quantities of silver coinage , either released from hoarding or newly struck by the Mint . The government expected that the resumption of specie payments would cause the dollar and other small gold coins to circulate again , but the public , allowed to redeem paper currency , continued to use it as more convenient than coins . 
