What this coin looks like (obverse, reverse, mint mark location, special features, etc.): One major variety of the 1849 Liberty Head Gold Dollar features a reverse with an open wreath and an obverse with an "L" initial on the liberty portrait.
The Open Wreath variety features a reverse with more spacing between ends of the wreath and the numeral "1". The Closed Wreath features less spacing as the ends of the wreath are closer to the number "1". The difference between the Open Wreath vs Closed Wreath is depicted below in the example comparison image:
The 1849 "Open Wreath" Liberty Head Gold Dollar also has two sub-varieties. One variety does not feature a small initial "L" on the neck of the lady liberty portrait on the obverse of the coin. Later on the "L" was added as the initial for James Longacre who designed and engraved the coin. The difference between the No L vs With L varieties is depicted below in the example comparison image:
Coin valuation chart: Typical coin prices, values and worth per grade or condition - in USD