Not using $ in literals with x86

Question

In AT&T's syntax for x86 one must use $ to indicate literals. Does that mean that if I specify a single number the program will go look for the data contained in that memory adress?

For example:

movl 1,%eax

Would this try to move the data in the 0x00000001 memory section to a register? I know it will most likely fail when looking for it, I'm just curious.