When the California Gold Rush made the United States a wealthy country almost overnight, the federal government realized that it could use its new resources to simplify huge transactions by minting gold coins in large denominations. Because pretty much everyone still distrusted paper money, large payments were usually made in coins, thanks to their inherent value as precious metal. The largest gold coin at the time was the eagle (worth $10), which could make big transactions cumbersome.
Thus, in February 1849, Congress passed the Gold Dollar Bill, which authorized the U.S. Mint to begin coining $20 gold coins. Because it was worth twice as much as the eagle, this new coin became known as the double eagle.
Double eagles were minted from 1850 to 1933. In this period, the coin appeared with two major designs: the Liberty Head design (1850 to 1907) and the Saint-Gaudens design (1907 to 1933).
James B. Longacre designed the Liberty Head double eagle coin. The obverse featured a profile of Lady Liberty wearing an elaborate coronet. On the reverse was the eagle, with a motto ribbon on each side.
This design underwent two major changes. In 1866, with religious sentiment riding high after the Civil War, “In God We Trust” was added within a circle of stars over the eagle’s head on the coin’s reverse. This motto had first appeared just two years earlier on two-cent coins and became increasingly common as the century progressed.
In 1877, the reverse of the coin was modified yet again. Previously, the coin’s denomination was indicated as “Twenty D.” beneath the eagle crest. In 1877, “Dollars” replaced the “D.” abbreviation.
Other small changes were made over the years, but one particularly notable version was the 1861 Paquet Reverse. The government hired Anthony Paquet to make a few small modificati...
As the most valuable regular-issue American coin ever minted, the double eagle posed an obvious attraction to counterfeiters. After the Civil War, one method was particularly popular—counterfeiters would slice the coin in half, take out the gold, replace it with platinum, and put it back together. Perhaps amateur in comparison to today’s methods, these counterfeits were quite convincing at the time, so much so that the director of the U.S. Mint recommended that the coin be discontinued. These platinum counterfeits, however, have become collectible in their own right.
In 1907, the government released a completely redesigned coin, created by sculptor Augustus Saint-Gaudens at the request of Theodore Roosevelt. The obverse featured a Hellenistic-style portrait of Lady Liberty in a flowing gown, bearing an olive branch and a torch. Unlike the previous coin, this one portrayed Lady Liberty’s entire body, striding toward the viewer. On the reverse was an eagle flying over a rising sun. Some numismatists consider it the most beautiful American coin ever made.
The first pressings of the Saint-Gaudens double eagle featured an unusually high relief. Additionally, because Roosevelt thought that printing “In God We Trust” on a coin was sacrilegious, the coin appeared without this motto. It also featured Roman numerals for the year (MCMVII), rather than the usual Arabic numerals.
In 1908, Congress added “In God We Trust” over the rising sun on the reverse of the coin, changed the Roman numerals to Arabic numerals, and lowered the coin’s relief. Because it was changed so quickly, collectors treasure the 1907 coins, especially those with the distinctive high relief.
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Notebook: Trio of Summer AcesSouthern Pines Pilot, July 26th
Paul Hogan had a net double eagle on hole No. 5 to gain 4 points. The winners: Glen Davis, Paul Holobinka, Marco Cantele and Bill Haussmann, 161. Terry McDaniel, John Hubbard, Ted Gleason and Hugh Miner, 143. Midland: The Men's Golf Association, ...Read more
US Gold Coins: Are 1870-CC Eagles Undervalued in Comparison to their ...CoinWeek, July 25th
So far in 2014, the various sales of the Bently/Nob Hill Collection(s) of US Gold Coinage has seen no less than six examples each of the rare 1870-CC eagle and double eagle with the promise of more to come. The sale of this quantity of 1870-CC eagles...Read more
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The US Mint is considering showcasing the eagle design, shown left, on reverses of a proposed 2015 UHR gold coin. The last UHR gold coin from the Mint was the popular 2009 $20 UHR Gold Double Eagle (the obverse and reverse of which is above)...Read more
More Sunken Treasure Recovered; 13500 Gold, Silver Coins Found At 1857 ...Forbes, July 21st
On July 18, the deep sea marine exploration company released a full inventory of the recovered sunken treasury, which includes a wide variety of silver and gold coins, including $20 double eagles. The company also said that along with the double eagle ...Read more
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The New York-bound steamship was wrecked in a hurricane in 1857, sending treasure from the California Gold Rush and 425 people aboard to the bottom of the Atlantic Ocean about 160 miles off the South Carolina coast. At the time of its sinking, the lost ...Read more
US Mint 2015 24K Gold Ultra-High Relief Coin and Silver Medal?CoinNews.net, July 18th
Mint's last ultra-high relief product was the 2009 $20 24K Gold Ultra-High Relief Double Eagle Coin which was a recreation of the famed Augustus Saint-Gaudens' designed 1907 $20 Double Eagle gold piece (www.usmint.gov/mint_programs/ultrahigh)...Read more
Gold worth millions recovered from 1857 shipwreckLancaster Eagle Gazette, July 17th
The inventories show that 43 gold bars, 1,302 $20 double-eagle gold coins, 37 $10 eagle gold coins, and 9,053 10-cent silver coins have been brought to the surface. The chief scientist of the recovery told the Dispatch that the quality and variety of...Read more
From ColumbusAlive.comColumbus Dispatch, July 17th
The haul includes 1,302 $20 double-eagle gold coins, 37 $10 eagle gold coins and 9,053 10-cent silver coins, reports unsealed by a federal court in Virginia show. Bob Evans, chief scientist for the mission, described the quality and variety of the...Read more