$20 Gold
Twenty-dollar gold "double eagles" were coined for the first time in 1850, following the discovery of gold in California, with a large quantity the precious yellow metal available for the minting of coinage. Prior to that time, much of America's gold coinage was derived by melting gold coins struck by other countries. During the life of the denomination it was the highest valued circulating coin, and only two major types were used; Liberty Head 1850-1907 and the beautiful Saint-Gaudens motif 1907-1933. The Liberty Head type comprised three distinct varieties. No Motto reverse examples were struck until 1866, at which time IN GOD WE TRUST was placed in the upper reverse field. In 1877, the denomination at the lower reverse rim was changed from TWENTY D. to TWENTY DOLLARS, a revision which served until the series retirement. World famous sculptor Augustus Saint-Gaudens completely revamped the double eagle for introduction in 1907, with his first version being struck in the High Relief format and bearing a Roman numeral date. Since its inception, the "High Relief" double eagle has been widely regarded as America's most beautiful coin, and indeed, one of the most magnificent coins ever conceived world-wide. The initial 11,250 coin test run revealed striking difficulty and general impracticality for mass production, resulting in a design revision early on to a lower relief and an Arabic numeral date. Commencing with its introduction in 1986, the United States bullion gold American eagle used the same obverse, and for the first few years used a Roman numeral date, as well, but was struck in a relief conducive to large scale production. The first Saint-Gaudens double eagles did not have the motto IN GOD WE TRUST, but the design was revised early on in 1908 to include it. A 1933 double eagle, the only one legally held, sold for around 7.5 million dollars recently, and is considered the world's most valuable coin. The double eagle has a large collector base, and is also popular as a bullion coin containing .96750 oz. of fine gold. The value over gold's spot price is modest, and only a small premium paid for the historical significance and collector status of this classic American gold denomination.
Reference books include: GOLD COINS OF THE CARSON CITY MINT by Douglas Winter; AN INSIDER'S GUIDE TO COLLECTING TYPE I DOUBLE EAGLES by Douglas Winter and Adam Crum; A GUIDE BOOK OF UNITED STATES COINS by R.S. Yeoman; and the all encompassing COMPLETE ENCYCLOPEDIA OF U.S. AND COLONIAL COINS by Walter Breen.
Rare Dates: 1854-O, 1861 and 1861-S Paquet Reverse, 1870-CC, 1883 Proof-Only, 1884 Proof-Only, 1887 Proof-Only, 1927-D, 1933.
Famous Issues: 1849, 1870-CC, 1907 Roman Numeral Date-High Relief, 1927-D, 1933.
A Highlight $20 Gold from our Auctions
1907 High Relief-Wire Ed. PCGS 64
