George Washington $1 Gold Dollar Coin Value

The Presidential Dollar series, issued from 2007 to 2020, celebrated the legacy of all deceased U.S. Presidents. These coins were released in chronological order, beginning in 2007 with a dollar honoring George Washington, the nation’s first President.

But as a modern collectible, how much is this coin really worth today?

In this guide, we’ll explore the value of the 1789-1797 George Washington $1 coin. We’ll examine what distinguishes an ordinary coin from one that collectors highly prize—and why some can fetch impressive prices.

Curious to learn more? Let’s dive in!

1789-1797 George Washington One Dollar Coin Overview

The "Gold Dollar" Misconception:

Let's be clear from the outset: despite some popular misconceptions, the 2007 George Washington "dollar coin" is not made of gold. It is composed of a base metal alloy: 88.5% copper, 6% zinc, 3.5% manganese, and 2% nickel. The "dollar" designation is purely nominal. This is a key point often missed by casual observers who may have unrealistic expectations about the coin's intrinsic worth.

• Category: Presidential dollar coins
• Mint: Denver, Philadelphia, San Francisco
• Obverse designer: Joseph Menna
• Reverse designer: Don Everhart
• Mass: 8.10 grams
• Diameter: 26.50 millimeters

• Total mintage, regular strike: 340,360,000

• Proof mintage: $3,965,989

The George Washington One Dollar Coin holds a special place in U.S. numismatic history as the first coin in the Presidential Dollar series. This series was authorized by legislation in 2005, with the inaugural Washington coins struck in February 2007.

The Presidential Dollar series was created to honor all deceased U.S. Presidents, culminating with President George H. W. Bush. Each coin was issued in three-month intervals, with the next coin in the sequence commemorating the following president.

Design Details

The reverse of all Presidential Dollar coins features an image of the Statue of Liberty, along with the denomination and the country name. The edge of the coin includes unique inscriptions: thirteen stars, the year, the mint mark, and the Latin motto “E Pluribus Unum” (meaning "Out of many, one").

Before 2009, the edge also included the phrase “In God We Trust”. This marked the first time since the 1930s that edge lettering was used on U.S. coins. However, this feature led to production challenges, and a small number of coins, including the George Washington Dollar, were mistakenly minted without edge lettering. These "missing edge lettering" errors are highly sought after by collectors.

The Presidential Dollar series was specifically designed to reignite interest in coin collecting. Interestingly, throughout its production run, the series coexisted with the Sacagawea Dollar, making it one of the few times two dollar coins were produced simultaneously.

The George Washington One Dollar Coin remains a favorite among collectors, not only for its historical significance but also for the intriguing variations like the missing edge lettering error.

Learn more about: 

The History of the Sacagawea Coin

 What Are the Most Valuable Silver Dollars?

1789-1797 George Washington One Dollar Coin Value

The reality is that the vast majority of 2007 George Washington dollars, like most modern circulating coins, are worth precisely one dollar. Circulated examples, even those in good condition, rarely command more than their face value. Why? Because hundreds of millions were produced, and they remain readily available.

Mint Marks and Edge Orientation: A Look at the Variants:

The 2007 Washington Dollar was struck at three mints:

• Philadelphia (P): Known for its massive mintage

• Denver (D): Similar large mintage to Philadelphia

• San Francisco (S): Struck as proof coins for collector sets

What muddies the water slightly are two critical factors:

1. Edge Lettering Orientation: The lettering on the edge of the coin can appear in two orientations relative to the upright portrait of Washington. If the lettering is upside down when the portrait is facing up, it's considered a "Position A" coin;

   
   

   
   

   2007-P $1 George Washington Position A 

   
   

   
   

   if the lettering is right-side up when the portrait is facing up, it's a "Position B" coin. This seems like a minor distinction, but it has some impact on collector interest (albeit often inflated).

   
   

   
   

   2007-D $1 George Washington Position B

2. Mint State (MS) and Proof (PR) Grades: The grade assigned to a coin by a reputable grading service like PCGS or NGC is critical for determining value, especially for uncirculated coins. Grades range from 1 (Poor) to 70 (Mint State/Proof perfect). The higher the grade, the more the coin is supposedly worth.

   • Business Strike Coins (P & D): These were intended for general circulation. A perfectly preserved, uncirculated business strike coin (MS67 or higher) can command a premium, but even then, the prices are often very modest compared to older coins with higher historical value.

   • Proof Coins (S): These are struck using special methods to create a mirrored background and sharply detailed design. They tend to be worth slightly more than business strikes, but again, the premium is limited due to the relatively high mintage.

George Washington Dollar Value Chart 

Here is a generalized value chart (USD) based on current market data, a selling price may differ. 

• Position B Denver MS67+: These are highly variable and can fetch high prices in a good sale but most have not been sold on the open market for price validation. These values can often be inflated.

Important Considerations When Evaluating Value:

• Grading Fees: Getting a coin graded costs money, and it only makes sense to do so for coins with the potential to significantly increase in value. Most coins you find in change are not going to be worth the grading fee.

• Market Volatility: The coin market, like any market, experiences fluctuations. Prices can change, especially for modern coins. What is valued today may not be tomorrow.

• "Eye Appeal": While this may sound subjective, the overall attractiveness of a coin impacts its value. Factors include luster, sharpness of detail, and freedom from distracting marks or damage. But "eye appeal" is not everything and it's often a sales tactic used by unscrupulous collectors or sellers.

List Of 1789-1797 George Washington One Dollar Coin Errors

Missing Edge Lettering Value: Where Real Value Can Exist

The most interesting – and potentially valuable – aspect of the 2007 Washington dollar is the "missing edge lettering" error.

A number of George Washington Presidential Dollars are missing their edge lettering, making them a standout error coin that commands a premium over standard versions.

The edge lettering, which typically includes the mintmark, year, and motto, was inadvertently omitted during production. Without the mintmark, it’s impossible to determine whether these coins were struck in Denver or Philadelphia. However, since Washington dollars were only minted in 2007, their date is certain.

Even heavily worn coins with this error hold value. A piece graded PO-1 can fetch around $50. Coins in better condition, such as MS60, are valued at $16, while MS66 examples rise to $65. Interestingly, over 3,000 coins at the MS66 grade have been certified by PCGS.

Higher grades are considerably rarer. At MS67+, these coins become highly desirable, with PCGS estimating their value at $600. The rarest examples, graded MS68, are exceptionally scarce. Only three have been identified to date, with an estimated value of $4,250 each. These coins are a must-have for collectors seeking unique pieces with a fascinating history.

Missing Edge Lettering (Business Strike):

• Due to a production issue, some coins were released without the edge inscriptions (13 stars, date, mint mark, and mottos).

• These errors are significantly rarer than regular strikes. The lack of a mint mark makes it difficult to pinpoint where they originated from, but it's assumed they were mainly from P and D mints.

• Value: A circulated coin with missing edge lettering isn't going to make you rich, but uncirculated, error coins of this type can command higher prices if graded MS67 or higher. 

• Note that while values for MS68 are cited by PCGS, there is a significant premium put on these coins due to scarcity and many examples have not been sold in open markets for price validation.

Missing Edge Lettering (Satin Finish):

• Satin finish error coins are rarer still, as they are also from special collector sets, and there are fewer of them. As such, the missing edge letter errors on these coins are quite sought after.

• Value:

  SP63 - $450 - $550
  SP64 - $1,000 - $1,200
  SP65 - $1,200 - $1,400
  SP66 - $2,000 - $2,500

• Note that prices for graded examples above SP63 may be inflated and are highly variable. Many have not been sold on open markets for validation. Also, the sole SP66 example may sell at a higher price due to scarcity and not at its estimated value.

The Verdict: Is It Worth the Hype?

The 2007 George Washington dollar is an interesting coin, primarily for its edge lettering error and mint position varieties. But most examples are worth only face value. If you find a circulated coin, it's more likely a conversation piece than a source of wealth.

Key Takeaways for Potential Collectors:

• Knowledge is Power: Don't fall for the "gold dollar" myth or overly inflated online prices. Educate yourself about grading and values before buying.

• Error Coins are King: If you're looking for value beyond face value, focus on errors, particularly the "missing edge lettering" variety, in the highest grade possible.

• Buy the Coin, Not the Grade: Don't blindly chase grades. Look at the coin itself – its luster, detail, and overall appeal. Sometimes, a lower-graded coin with better eye appeal can be more satisfying.

• Have Fun: Collecting should be an enjoyable hobby, not a get-rich-quick scheme. Don't let the potential for value overshadow your passion for the hobby.

The 2007 George Washington Presidential Dollar serves as a useful case study in how a modern coin with a large mintage and minor production quirks can generate significant interest. But like all collectibles, it pays to approach it with a critical eye and a realistic expectation of value. The "gold" isn't in the metal; it's in the informed and discerning collector's approach.

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*This information is for educational purposes only. Bullion Shark is not responsible for any factual errors that may be contained in this post. This information is not intended for investment purposes. Please consult and investment advisor before investing.