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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Nell Nolan: Mystic and Alexis at New Orleans' Hilton Riverside hotelThe New Orleans Advocate, February 28th
Each one was made of elegant antique silks that were heavily embroidered with gold and silver bullion and iridescent sequin paillettes in various motifs, including roses and other floral designs. For each, a heavily embroidered silk underdress was worn...Read more
Founding Fathers: We Are Not a Christian NationHuffington Post, February 26th
Since 1938, all United States coins bear the inscription. Later, the motto was found missing from the new design of the double-eagle gold coin and the eagle gold coin shortly after they appeared in 1907. In response to a general demand, Congress...Read more
Billings business reports theft of $2500 gold coinRavalli Republic, February 20th
Lt. Kevin Iffland said that the coin, a 1923 Augustus St. Gaudens $20 double eagle gold coin, was stolen on Saturday from the shop, at 2450 King Ave. W., Suite C. The theft was reported to police on Wednesday. On its Facebook page, the business posted...Read more
Where to watch the Oscars on Sunday nightWashington Post (blog), February 19th
You could watch the Academy Awards on Sunday night from the comfort of your couch. But like the Super Bowl, the Oscars are far more fun to experience with a crowd. And you don't have to go far to find big gatherings: Local bars and cinephile groups go...Read more
2015 High Relief gold $75 coin is a misfire by the Mint on many levelsCoin World, February 4th
If this were to be a successor to the 2009 UHR, should it not retain status as a double eagle and keep the $20 face value? Even at $50, we could call it an American Eagle. Why is it a good idea to have so many equal weight bullion coins with so many...Read more
Alex Cooper Auctioneers to Host Unreserved Coin Auction on Feb. 12ArtfixDaily, February 3rd
Buyers are invited to bid online or visit Alex Cooper's gallery in Towson, Md. Sample coins for the unreserved auction include: • United States silver dollar, 1795 • United States Double Eagle gold $20 coin, 1853 • United States Flying Eagle cent, 1856...Read more
Coin Profiles – Very Rare 1872 Double Eagle US Proof Gold CoinCoinWeek, December 26th
I have handled some really amazing Proof gold coins in 2014, and one of the rarest and most interesting is this PCGS PR64 1872 double eagle. I'd like to share some information about this specific coin and about Proof Type Two double eagles in general...Read more
Rare 'double eagle' gold coin could fetch $1.5 millionUSA TODAY, December 15th
A rare 1907 double eagle $20 coin designed by famed American sculptor Augustus Saint-Gaudens could sell for as much as $1.5 million at auction Tuesday. The lustrous gold piece is one of four experimental relief $20 coins that were minted in...Read more