Double Eagle Coin | Double Eagle Gold Coins

Coin collectors interested in getting a double eagle coin are usually interested in the coins, not so much for their aesthetic qualities, but because of the double eagle value. The double eagle coin, aptly called by coin collectors “the double eagle,” is a coin minted out of gold bullion by the United States government. The coin itself has a face value equaling $20.00, but the coins actual value is far more than that. The double eagle is a coin that is comprised of .9675 gold purity and is crafted out of 21.6 karats of gold mixed with roughly ten percent of an alloy made of copper.

The Congress is responsible for dubbing the double eagle coin “the double eagle” in the year 1972. The first coin that was actually minted however was actually generated in a facility in the year 1849. A year later, the double eagle was produced for the purposes of circulation and the coin was minted until the year 1933. The coins are in two different types; the double eagle liberty head coins which were minted between 1849 and 1907, and the Saint Gaudens double eagle coins minted between 1907 and 1933. In the year 1933, there was a stoppage placed on gold ownership by the president of the time, Theodore Roosevelt. During that year, there were no legally authorized 1933 double eagle coins sold, but this did not stop thieves from getting their hands on such coins.

During the year 2002, there was actually an auction of a double eagle coin from 1933 that sold for more than $7,500,000.00. Today, if you were to own a set of St Gaudens’s double eagle coins that are uncirculated and in perfect condition, you will find that they can be worth as much as three million dollars provided the set contains a rare proof pattern. A complete set absent of a rare proof pattern can be worth some $750 thousand. Clearly, double eagle coins have a rich history and their value only continues to increase with the passage of time.

In 2009, the United States mint generated double eagles with a ultra high relief that possess the St. Gaudens traditional design. These coins contain 99 percent gold, and are presently selling for $1340.00 a coin. Coin collectors that want such coins are supplied no limit on their purchase too.

With current economy in crisis and gold prices rising, smart investors have turned to gold for better asset preservation. Buying gold coins, such as gold double eagle coins, are the most practical method of owning gold. As the most beautifully designed U.S. coin ever made, double eagle coin is the ideal coin for you to start.

One of the best ways to purchase gold double eagle coin is online at DoubleEagleCoin.net. Our double eagle coin auctions always ensures you can really get the best values buying your dream gold double eagles. There are many ways buyers are protected, but the best way to determine if a seller is reputable by looking at their feedback score and comments left by previous customers.

Here are important tips that will give you a pleasant and save experience for your next online purchase at DoubleEagleCoin.Net.

1. Buy from Power Sellers, who are well established and care about their reputation and customers. You can also buy from a seller who has been around for a while.

2. Always check the feedback number. The higher number of feedback, more confidence you can have in a seller. Also look at feedback scores as well. A good rule of thumb is always buying from a seller with feedback score over 90%.

3. Read the auction listing carefully. Don't forget fine prints and Return policy. Ideally, you want the seller to allow 7 to 10 day for you to evaluate the gold double eagle coin and decide if the coin was advertised correctly.

If you are going to buy gold double eagle coins or any other gold bullion coins online, remember to keep an eye on the gold market value, as daily fluctuations can be dramatic sometimes.

With the gold prices soaring at record highs and the U.S. economy in turmoil, smart investors are turning to gold to hedge against the falling U.S. dollar. Some would think solid gold bars are the most reliable and cost effective method of owning gold. However, gold coins actually are better option in terms of protecting against deflation and financial uncertainties.

Gold coins typically cost slightly more than their gold content value (spot price), because a small premium or markup (4% to 10%) would be added for minting and distribution cost. But gold coins are easier to trade and manage than gold bars because of the smaller denominations and sizes. In addition , gold coin is classified as a collectible, which means that profits are not taxed as capital gains but as ordinary income. Long-term capital gains are taxed at a 15% rate for those in the 15% bracket, but gold investments can be taxed at rates of up to 39.6%. Those considering putting their money into gold coins should consider what these rates might do to their returns.

There are two main types of gold coins: bullion coins and collectible coins. Gold Bullion coin is favorite among gold investors, because its value comes primarily from the worth of gold content itself rather than from a face value. Gold bullion coins are priced and sold according to the weight of gold the coin contains, plus the additional premium mentioned earlier. Some of the most popular gold Bullion coins today are Double Eagle coin, American double Buffalo coin, 1oz Krugerrand gold coin and Mexican 50 Peso gold coin.

For centuries, gold has proven to be the safest, yet most effective way to protect personal wealth against the falling economy. With the global economy melt down, have you ever considered buying gold? After all, gold as an investment has been resorted by the wealthy families in Europe and Asia for centuries.

Gold prices have seen an upward trend in the past 5 years. Recently the gold price has surged past the $900-an-ounce mark, hitting a record high in years. With the recent financial turmoil, experts point out that gold prices are likely to continue rising steadily in 2009. This investment opportunity is showing an upswing again. With uncertainty in the stock market and a declining US economy, more and more smart investors are turning to gold as a safer investment option.

If you would like to invest in gold simply to capitalize on gold price movement, gold bullion coins would be the No.1 option for you. Universally recognized and easily sold, double eagle gold coins are an excellent investment option.

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US Mint Sales of the 2009 Ultra High Relief Double Eagle Gold Coin will end on December 31 at 3 p.m. (Eastern Time).

Customers may order the 2009 Ultra High Relief Double Eagle Gold Coin until December 31 at the United States Mint’s secure Web site.

The obverse (heads side) design of the one-ounce $20 coin, which is struck in 24-karat gold, features Liberty, represented by a statuesque woman striding forward. The reverse (tails side) design depicts a young eagle flying during a magnificent sunrise. The coin is encased in a protective capsule and mounted on a wood platform housed in a velvet-lined, highly lacquered, mahogany wood box that bears inscriptions in a font similar to those used in the early 1900s, when the original coin was produced.

Included with each coin is an official hard-cover, companion book that chronicles the story of the original $20 1907 Double Eagle gold piece, and describes the modern technologies and processes that the United States Mint used to perfect the legal tender 2009 version. The book is not sold separately.

Sales for the 2009 Ultra High Relief Double Eagle Gold Coin began on January 22, 2009 – a special collectible resulting from modern 21st century digital design technology. To date, sales of the coin have exceeded 108,961 units.

The 2009 Ultra High Relief Double Eagle Gold Coin was a culmination of the vision President Theodore Roosevelt and renowned sculptor Augustus Saint-Gaudens shared for our Nation’s coinage at the turn of the last century. When the original coin was created in 1907, the minting process did not allow for the mass-production of ultra high relief coins. As a result, despite being called the most beautiful coin ever minted in the U.S. and perhaps the world, Saint-Gaudens’ artistic vision for the gold piece was not fully realized until 102 years later.

Through 21st century design and technology, the United States Mint was able to digitally map Saint-Gaudens’ original coin plasters and update his ultra high relief sculpture. These updates include the year “2009,” which is depicted in Roman numerals (MMIX); the addition of four stars to represent four additional states; and the addition of the inscription IN GOD WE TRUST, which was not on the 1907 version.

Customers may read much more about this unique coin and its history, as well as watch a special video and tour a virtual exhibit, by visiting the United States Mint’s Web site.

By US Mint on Thursday, December 17, 2009

When the double eagle was proposed one of the arguments in support of the new coin was that a depositor with a large amount of bullion would find the $20 coin a more convenient product than smaller denomination coins. One of the sponsors of the double eagle authorizing legislation, Representative James McKay of North Carolina, noted that the Act of 1837 required the Mint to provide whatever coins a bullion depositor wanted. Certainly, the thought went, a depositor would prefer to have as few coins as possible. However, because some legislators were doubtful that the public would indeed accept this large coin, its authorization was limited to two years. If the denomination proved unpopular, the legislation would not be renewed. But the double eagle did have its supporters. Senator Thomas Benton of Missouri predicted that the $20 coins would be more popular than the gold dollar, which proved to be a correct assessment, and the denomination was produced for eight and a half decades.

Gold twenties were first minted for circulation in 1850. In 1866 the religious motto IN GOD WE TRUST was added to the reverse of the double eagle, producing what is often referred to as the Type 2 double eagle. This resulted in two designs for the same year (1866), a pattern repeated in 1907 when St. Gauden’s design replaced James Longacre’s Liberty Head type. The oval of stars above the eagle on the reverse was expanded to accommodate the motto. Additional changes included modification of the reverse shield, ribbons, and rays, and the lengthening of the eagle’s tail feathers. The last change necessitated the use of smaller mintmarks to fit in the reduced space left between the feathers and the denomination.

Longacre’s classical left-facing Liberty on the obverse is said to be modeled after an old Hellenistic sculpture, the Crouching Venus. A beaded-edged coronet with the word LIBERTY is placed on her head, and curled locks both drape down the back of the neck and sweep from the front to form rolled curls at the back of her head. Thirteen six-point stars encircle inside a dentilled rim, and the date is centered at the bottom. The reverse displays UNITED STATES OF AMERICA around the top two-thirds inside a dentilled rim, and the denomination TWENTY D. is centered at the bottom. An eagle with outstretched wings is in the center, clutching three arrows in the left claw and a small olive branch in the right, with a shield placed across its breast. The shield has ornate curved borders; the sides and top were straight on the Without Motto type.

The eagle, head turned to its right, is holding in its beak one of two top extensions of an elaborately curled and parted double scroll or ribbon, which some suggest represents the double eagle denomination. E PLURIBUS is in the center of the ribbon to the left, and UNUM in a similar location on the ribbon to the right. Above the eagle’s head, below STATES OF, thirteen small six-point stars form a slightly flattened oval. Six of the stars are on the blank field and seven overlap the edge of sunburst-like rays that form an arc between the eagle’s wings. Within the oval is the motto IN GOD WE TRUST. Circulation coins were minted at Philadelphia, Carson City (from 1870 forward), and San Francisco; small CC and S mintmarks are located in the narrow space below the eagle, above TWENTY D., on the reverse. All proofs were minted at Philadelphia.

Without Motto Liberty Head double eagles are considered common, and though prices for the lower grades reflect the amount of gold contained in this large coin they advance steeply at low Mint State grades or finer. CC-Mint issues command higher premiums for nearly all dates, particularly so for 1870 (extremely expensive) through 1873 issues. Prooflike circulation strikes are known. All proofs are expensive, dramatically so as near-Gem and Gem, and are represented in census/ population reports by very few coins. Cameo and Deep Cameo proofs have been certified, and are not unusual for the type.

Specifications:

Designer: James B. Longacre
Circulation Mintage:high 1,709,825 (1873), low 3,789 (1870-CC)
Proof Mintage:high 50 (1867), low 20 (1874 and 1875).
Denomintion: $20.00, Twenty dollars, Double Eagle
Diameter: ±34 mm, reeded edge
Metal content: 90% gold, 10% copper
Weight: ±33.436 grams
Varieties:A few minor die varieties have been identified, but 1873 Open 3 and Close 3 types are the best known. Close 3 circulating coins were produced at all three mints, and by Philadelphia for the proof issue. Open 3 examples are listed separately in census/ population reports only for Philadelphia and San Francisco mint issues.

By Tim L. Shuck, www.coinlink.com

When the double eagle was proposed one of the arguments in support of the new coin was that a depositor with a large amount of bullion would find the $20 coin a more convenient product than smaller denomination coins. One of the sponsors of the double eagle authorizing legislation, Representative James McKay of North Carolina, noted that the Act of 1837 required the Mint to provide whatever coins a bullion depositor wanted. Certainly, the thought went, a depositor would prefer to have as few coins as possible. However, because some legislators were doubtful that the public would indeed accept this large coin, its authorization was limited to two years. If the denomination proved unpopular, the legislation would not be renewed. But the double eagle did have its supporters. Senator Thomas Benton of Missouri predicted that the $20 coins would be more popular than the gold dollar, which proved to be a correct assessment, and the denomination was produced for eight and a half decades.

Gold twenties were first minted for circulation in 1850. In 1866 the religious motto IN GOD WE TRUST was added to the reverse of the double eagle, producing what is often referred to as the Type 2 double eagle. This resulted in two designs for the same year (1866), a pattern repeated in 1907 when St. Gauden’s design replaced James Longacre’s Liberty Head type. The oval of stars above the eagle on the reverse was expanded to accommodate the motto. Additional changes included modification of the reverse shield, ribbons, and rays, and the lengthening of the eagle’s tail feathers. The last change necessitated the use of smaller mintmarks to fit in the reduced space left between the feathers and the denomination.

Longacre’s classical left-facing Liberty on the obverse is said to be modeled after an old Hellenistic sculpture, the Crouching Venus. A beaded-edged coronet with the word LIBERTY is placed on her head, and curled locks both drape down the back of the neck and sweep from the front to form rolled curls at the back of her head. Thirteen six-point stars encircle inside a dentilled rim, and the date is centered at the bottom. The reverse displays UNITED STATES OF AMERICA around the top two-thirds inside a dentilled rim, and the denomination TWENTY D. is centered at the bottom. An eagle with outstretched wings is in the center, clutching three arrows in the left claw and a small olive branch in the right, with a shield placed across its breast. The shield has ornate curved borders; the sides and top were straight on the Without Motto type.

The eagle, head turned to its right, is holding in its beak one of two top extensions of an elaborately curled and parted double scroll or ribbon, which some suggest represents the double eagle denomination. E PLURIBUS is in the center of the ribbon to the left, and UNUM in a similar location on the ribbon to the right. Above the eagle’s head, below STATES OF, thirteen small six-point stars form a slightly flattened oval. Six of the stars are on the blank field and seven overlap the edge of sunburst-like rays that form an arc between the eagle’s wings. Within the oval is the motto IN GOD WE TRUST. Circulation coins were minted at Philadelphia, Carson City (from 1870 forward), and San Francisco; small CC and S mintmarks are located in the narrow space below the eagle, above TWENTY D., on the reverse. All proofs were minted at Philadelphia.

Without Motto Liberty Head double eagles are considered common, and though prices for the lower grades reflect the amount of gold contained in this large coin they advance steeply at low Mint State grades or finer. CC-Mint issues command higher premiums for nearly all dates, particularly so for 1870 (extremely expensive) through 1873 issues. Prooflike circulation strikes are known. All proofs are expensive, dramatically so as near-Gem and Gem, and are represented in census/ population reports by very few coins. Cameo and Deep Cameo proofs have been certified, and are not unusual for the type.

Specifications:

Designer: James B. Longacre
Circulation Mintage:high 1,709,825 (1873), low 3,789 (1870-CC)
Proof Mintage:high 50 (1867), low 20 (1874 and 1875).
Denomintion: $20.00, Twenty dollars, Double Eagle
Diameter: ±34 mm, reeded edge
Metal content: 90% gold, 10% copper
Weight: ±33.436 grams
Varieties:A few minor die varieties have been identified, but 1873 Open 3 and Close 3 types are the best known. Close 3 circulating coins were produced at all three mints, and by Philadelphia for the proof issue. Open 3 examples are listed separately in census/ population reports only for Philadelphia and San Francisco mint issues.

By Tim L. Shuck, www.coinlink.com

“I think our coinage is artistically of atrocious hideousness. Would it be possible, without asking permission of Congress, to employ a man like Saint-Gaudens to give us a coinage that would have some beauty?”. So wrote President Theodore Roosevelt to Secretary of the Treasury Leslie Mortier Shaw in December, 1904. The drama of Roosevelt’s interaction with Saint-Gaudens and Chief Engraver Charles E. Barber has been many times retold, in part because the coin has been a favorite of both collectors and the general public since its release in 1907. The first examples were produced in what is described as Ultra High Relief, extraordinary pattern pieces of which it is likely fewer than 20 survive today. A revised design, labeled High Relief, had a greater mintage, more than 11,000 coins. This version was most likely a pattern that, through Roosevelt’s insistence that the coin be released, effectively became a regular issue.

Roosevelt was enamored of high relief designs. In a letter to Saint-Gaudens, he noted that “I was looking up some gold coins of Alexander the Great today, and I was struck by their high relief”, and then posed a question to the renowned sculptor: “Would it be well to have our coins in high relief É?” Saint-Gaudens eagerly took up “our scheme”, as he phrased it, developing models both for the double eagle and the eagle. Mortally stricken with cancer, Saint-Gaudens lived long enough to see only the Ultra High Relief double eagle patterns minted. As the coin entered production, technical concerns became paramount for Chief Engraver Charles E. Barber, who lowered the relief on the design to enable high-speed minting of the issue. Barber has been much maligned for his efforts (and his temperament, for which the criticism has apparently been deserved), but as scholar Q. David Bowers points out “a mint is a coin factory, not an artist’s studio.” Nonetheless, even in lower relief the Saint-Gaudens double eagle is acclaimed as one of the most beautiful and artistic U.S. coin designs.

The 1907-1908 double eagles do not have the motto IN GOD WE TRUST, which became another issue even though the Coinage Act of 1890 did not include that motto in the list of required wording to be placed on U.S. coins. Some attribute the lack of the motto to a Presidential order, Roosevelt of the belief that inscribing God’s name on a coin was a blasphemous act; a coin could for example be used not only for the offering plate but also for criminal and other nefarious purposes. Regardless of the reason for the omission, the motto was restored (it was on the previous Liberty Head type) later in 1908 by Congressional action, which brought the double eagle into compliance with the Act of March 3, 1865.

The obverse features a full-length image of Liberty, facing forward with an olive branch in her left hand and a raised torch in her right hand. Draped in a long, flowing gown, her hair is swept to the left. Some describe her as striding forward, but she appears instead to be in a pose; the foot of her left leg rests on a large rock (in front of which are oak leaves), difficult terrain through which to be walking. To Liberty’s right, at the bottom of the coin, the sun is visible behind a depiction of the U.S. Capitol building. Rays from the sun extend upward from behind the Capitol and Liberty, to about the level of Liberty’s waist. At the top of the coin is the word LIBERTY, the torch separating I and B. Forty-six tiny six-point stars (representing the number of states) are arrayed just inside the flat rim, forming a circle broken only by the rock and oak leaves.

The date, in ‘Arabic’ numerals rather than the original Roman style, is at the right bottom, above the rock, and a monogram of the designer’s initials ASG is below the date. Without Motto Saints were minted in Philadelphia and Denver; the D mintmark is located above the date. The crest of the sun appears again on the reverse, at the bottom with rays extending upward nearly to the top of coin behind a majestic left-facing eagle, wings uplifted in flight. At the top is UNITED STATES OF AMERICA in a concentric arc next to the flat rim, with TWENTY DOLLARS just below in another arc. The words of both phrases are separated by centered triangular dots, and the text is also in front of the sun’s rays. E PLURIBIS UNUM in raised letters, with thirteen separating raised stars, is on the edge of the coin.

Thousands of Without Motto Saint-Gaudens business strike double eagles have been certified, the greater number of the 1908 Philadelphia issue. Prices are modest for pieces through MS62, often trading not much above bullion value, while coins graded MS63 and finer are expensive to very expensive (MS67 and finer). The 1908-D is very expensive as MS65 and finer. Fewer than seven proofs of the type have been certified, all dated 1907, and designated by some as having either a satin or matte finish; all are extremely expensive.

Specifications:
Designer: Augustus Saint-Gaudens and Henry Hering (Saint-Gaudens’ collaborator), with modifications by Charles E. Barber
Circulation Mintage: high 4,271,551 (1908), low 361,667 (1907)
Proof Mintage: 40-50 (1907 only, estimated)
Denomination: $20.00, Twenty dollars, Double Eagle
Diameter: 34 mm, edge with raised text and symbols- E PLURIBUS UNUM, the words separated by thirteen stars
Metal Content: 90% gold, 10% copper
Weight: 33.436 grams
Varieties: A very few die varieties have been identified for both business strikes and proofs.

By Tim L. Shuck, www.coinlink.com

As with many events in early U.S. coinage history the authorization of the $20 coin provided its share of intrigue. The designs for the first double eagle were by James Longacre, the Mint’s Chief Engraver. Opposed by Chief Coiner Franklin Peale and Mint Director Robert Patterson, Longacre produced double eagle patterns and die trials in 1849, none of which were deemed satisfactory. When Longacre learned of efforts by Peale and Patterson to dismiss him, he turned for support to Senator John C. Calhoun, through whose influence he had received his appointment, and the ouster was blocked. The first production coins finally appeared in 1850, only two months before Calhoun died. Only one, or possibly two, 1849-dated double eagles exist, classified either as proofs or patterns. One 1849 twenty is located in the Smithsonian Institution, and though a second was apparently sent to the Treasury Secretary after being minted, the current status of that coin is unknown.

Longacre’s classical left-facing Liberty on the obverse is said to be modeled after an old Hellenistic sculpture, the Crouching Venus. A beaded-edged coronet with the word LIBERTY is placed on her head, and curled locks both drape down the back of the neck and sweep from the front to form rolled curls at the back of her head. Thirteen six-point stars encircle inside a dentilled rim, and the date is centered at the bottom. The reverse displays UNITED STATES OF AMERICA around the top two-thirds inside a dentilled rim, and the denomination TWENTY D. is centered at the bottom. An eagle with outstretched wings is in the center, clutching three arrows in the left claw and a small olive branch in the right, with a shield placed across its breast.

The eagle, head turned to its right, is holding in its beak one of two top extensions of an elaborately curled and parted double scroll or ribbon, which some suggest represents the double eagle denomination. E PLURIBUS is in the center of the ribbon to the left, and UNUM in a similar location on the ribbon to the right. Above the eagle’s head, below STATES OF, thirteen small six-point stars form an oval. Seven of the stars are on the blank field and six overlap sunburst-like rays that form an arc between the eagle’s wings. Circulation coins were minted at Philadelphia, New Orleans and San Francisco; O and S mintmarks are located in the narrow space below the eagle, above TWENTY D., on the reverse. All proofs were minted at Philadelphia.

Without Motto Liberty Head double eagles are considered common, and though prices for the lower grades reflect the amount of gold contained in this large coin they advance steeply as low Mint State or finer coins. O-Mint issues command higher premiums for nearly all dates, but the 1854-O and 1856-O are extremely expensive. Other coins with premium prices include the Large Date 1854 variety and the 1861-S Paquet modified reverse variety. An 1861 Paquet reverse from the Philadelphia Mint is also known, but is extremely expensive and nearly unique with only two specimens known. Coins recovered from several shipwrecks, including the Republic, Central America, and Brother Jonathan have added to the Mint State populations, but often carry a modest premium because of the history associated with those pieces. Prooflike circulation strikes are known. All proofs are expensive, dramatically so as near-Gem and Gem, and are represented in census/ population reports by very few coins. Cameo and Deep Cameo proofs have been certified.

Specifications:

Designer: James B. Longacre
Circulation Mintage:high 2,976,453 (1861), low 2,250 (1856-O)
Proof Mintage: high 80 (1859), low 5 (1857, estimated; one or two proofs/ patterns known for 1849, unknown or unconfirmed from 1850 through 1856).
Denomintion: $20.00, Twenty dollars, Double Eagle
Diameter: ±34 mm, reeded edge
Metal content: 90% gold, 10% copper
Weight: ±33.436 grams
Varieties:A few dozen die varieties are known, most representing minor die changes and overpunches. Best known are the 1853/2 overdate; the 1854 Small Date and 1854 Large Date; 1852, 1854, and 1859-S double die varieties; an 1857-S inverted S variety; and the 1861-S Paquet and extremely rare 1861 Philadelphia Paquet reverses. The eponymous Paquet reverses were made by Assistant Engraver Anthony Paquet and have a slightly modified eagle, taller reverse lettering, and a narrower border.

By Tim L. Shuck, www.coinlink.com

This last variation of the Liberty double eagle, often labeled Type 3, was produced in large quantities, particularly during the last decade of the 19th century and in the years leading to the end of the series in 1907. In most years the output from the San Francisco branch mint was greater than the production from any of the other mints, including Philadelphia. The designer of the Liberty Head double eagle, James B. Longacre, had died on January 1, 1869. His successor William Barber, and Barber’s son Charles Barber, made modest changes to the designs, including a change in the denomination listing on the reverse from TWENTY D. to TWENTY DOLLARS, which defines the type, and a stronger angle of the neck truncation on Liberty, which provided additional space for the placement of the date.

The Type 3 series of double eagles coincided with turbulent political and economic times in this country. In 1878 gold coins for the first time circulated at the same value as comparable paper money issues, where before they had traded at a premium (that is, it took more than a dollar’s worth of paper to buy a dollar’s worth of gold, based on face value). Even so, other than in the central western states, gold coins did not widely circulate. People had adapted to using currency for transactions and continued to do so even when silver and gold coins were available.

Declining world-wide demand for silver was contrasted by the U.S. government’s politically constrained purchase of vast amounts of silver for coinage into silver dollars, per the 1878 Bland-Allison Act. This caused an outflow of gold coins to countries where silver was no longer wanted as payment for obligations. The double eagle was the coin of choice for these transactions, and the export of gold coins became so severe that the Treasury nearly ran out of gold (the backing for certain currency) in January, 1895. National bankruptcy was averted by the behind-the-scenes actions of wealthy private citizens, including well-known financier J. Pierpont Morgan, who transferred private gold holdings to the Sub-Treasury in New York. The infusion was sufficient to avert the crisis, and gold stocks were slowly replenished in the following months.

Longacre’s classical left-facing Liberty on the obverse is said to be modeled after an old Hellenistic sculpture, the Crouching Venus. A beaded-edged coronet with the word LIBERTY is placed on her head, and curled locks both drape down the back of the neck and sweep from the front to form rolled curls at the back of her head. Thirteen six-point stars encircle inside a dentilled rim, and the date is centered at the bottom. The designer’s initials, JBL, appear at the bottom edge of the neck truncation as on both previous types. The reverse displays UNITED STATES OF AMERICA around the top two-thirds inside a dentilled rim, and the denomination TWENTY DOLLARS is centered at the bottom. An eagle with outstretched wings is in the center, clutching three arrows in the left claw and a small olive branch in the right, with a shield placed across its breast.

The eagle, head turned to its right, is holding in its beak one of two top extensions of an elaborately curled and parted double scroll or ribbon, which some suggest represents the double eagle denomination. E PLURIBUS is in the center of the ribbon to the left, and UNUM in a similar location on the ribbon to the right. Above the eagle’s head, below STATES OF, thirteen small six-point stars form a slightly flattened oval. Six of the stars are on the blank field and seven overlap the edge of sunburst-like rays that form an arc between the eagle’s wings. Within the oval is the motto IN GOD WE TRUST. Circulation strikes were minted at Philadelphia (all years except 1883, 1884, and 1887), Carson City (1877-1879, 1882-1885, 1889-1893), New Orleans (1879), San Francisco (all years except 1886), and Denver (1906-1907); the CC, O, S, and D mintmarks are located in the narrow space below the eagle, above TWENTY DOLLARS, on the reverse. Proofs were minted every year at Philadelphia, and prooflike pieces from the Denver Mint in 1906 and 1907 are known.

Without Motto Liberty Head double eagles are considered common, and though prices for the lower grades reflect the amount of gold contained in this large coin they advance steeply at low Mint State grades or finer. Key dates are the proof-only issues from Philadelphia in 1883, 1884, and 1887; the 1879-O; 1882, 1885, 1886, and 1891 Philadelphia circulation strikes; many of the Carson City dates, particularly the 1891-CC; and most issues at Select Uncirculated and finer. Prooflike circulation strikes are known. All proofs are expensive, dramatically so as near-Gem and Gem, and are represented in census/ population reports by very few coins except for the last ten years of the series and even then not in quantity. Cameo and Deep Cameo proofs, not unusual for the type, have been certified and have slightly higher prices.

Specifications:

Designer: James B. Longacre, with minor modifications by William Barber and Charles Barber
Circulation Mintage:high 6,256,699 (1904), low 571 (1882; none from Philadelphia in 1883, 1884, and 1887)
Proof Mintage:high 158 (1903), low 20 (1877 and 1878; one Denver 1907 proof, or proof-like piece, has been certified)
Denomintion: $20.00, Twenty dollars, Double Eagle
Diameter: ±34 mm, reeded edge
Metal content: 90% gold, 10% copper
Weight: ±33.436 grams
Varieties:A few minor die varieties have been identified, but a double die 1888 and double date 1896 are the only two currently listed in census/ population reports. A unique 1876 proof prototype of this final Liberty double eagle type, called a transitional pattern in the 2009 Guide Book, is known.

By Tim L. Shuck, www.coinlink.com