THE $20 (CORONET) LIBERTY DOUBLE EAGLE 1850-1907
The $20 Liberty Head (Coronet) Double Eagle is a remarkable Gold coin that has consistently ranked among the most sought-after by collectors and investors alike, and for good reason.
We excel at curating the most historically significant, valuable, and personally rewarding collections of authenticated and certified $20 Liberty Head Double Eagles.
As the largest denomination gold coin ever minted for circulation by the United States Mint, the $20 Double Eagle contains nearly one full ounce of gold. Due to its impressive size and exquisite design, it is a favorite among collectors and investors worldwide.
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The $20 Liberty Head Double Eagle was created as a direct result of the massive gold discovery at Sutter's Mill, CA., in 1848, which in turn ignited the California Gold Rush.
It entered circulation in 1850 and was minted annually until 1907.
The substantial gold strike in California in 1848 resulted in an abundance of the precious metal, accelerating the development of the American West and profoundly influencing the history of the United States and U.S. gold coinage.
The term "Double Eagle" simply refers to the new $20 gold coins being twice the size and value of the $10 Gold Eagle.
On March 3, 1849, the U.S. Congress approved a bill for a new $20 Gold coin, leading to the creation of the $20 Liberty Head (Coronet) Double Eagle. Three types were minted at five facilities: Philadelphia, New Orleans, Carson City, San Francisco, and Denver.
Between 1850 and 1907, more $20 Double Eagles were minted than all other gold denominations combined. The Double Eagle quickly became the preferred form of payment for large transactions, both domestically and internationally.
At the onset of the Gold Rush, there was no Mint in the Far West, and the first California gold to reach the main Mint in Philadelphia was minted into $2.50 Quarter Eagles. With the massive influx of the new found gold, it became clear that larger denominations than the $2.50, $5, and $10 gold coins were necessary.
Type I was produced from 1850 to 1866, Type II from 1866 to 1876, and Type III from 1877 to 1907.
$20 LIBERTY TYPE 1
"NO MOTTO"
(1850-1866)
The new $20 Liberty Head Type I Double Eagle design features Miss Liberty adorned with a Coronet, maintaining the same style as the other three gold coin denominations in circulation. This coin was minted without the motto "IN GOD WE TRUST."
The $20 Type 1 Liberty double eagle achieved immediate success as merchants and banks adopted the new gold coin for large banking and international transactions.
Minted from 1850 to 1866 at the Philadelphia, New Orleans, and San Francisco Mints, Type 1 $20 Double Eagles became the most widely produced gold coin in terms of quantity.
Production began in 1850, with over 1 million coins struck at the Philadelphia Mint and 141,000 at the New Orleans Mint.
Due to the absence of a mint in the Far West during the early years of the Gold Rush, some gold extracted in California was transported to New Orleans for coining.
The New Orleans Mint produced the coin annually from 1850 to 1861 in limited quantities.
Following the opening of the San Francisco Mint in 1854, mintages for the Type I $20 Double Eagle from New Orleans diminished.
Production came to a halt in 1861 when Louisiana seceded from the Union, resulting in the Confederate Army seizing the facility at the onset of the Civil War.
The San Francisco Mint produced substantial numbers of Double Eagles during the 1860s; however, in most years, nearly all of these coins were exported to settle international transactions and war debts related to the Civil War.
Despite some significant mintage figures for some issues. Type 1 Uncirculated specimens in Mint State grades from the San Francisco Mint are notably difficult to locate.
$20 LIBERTY TYPE 2
"WITH MOTTO"
(1866-1876)
Type II $20 Double Eagles were produced from 1866 to 1876 at the main Mint in Philadelphia, Carson City, and San Francisco. The Type 2 design was in circulation for just a decade.
During the nation's recovery following the Civil War, a proposal was made to the Secretary of the Treasury that American coinage should reflect faith in God. After careful deliberation, the phrase "IN GOD WE TRUST" was chosen.
In 1866, the U.S. Mint included this motto on the reverse side of the Double Eagle, resulting in a second type of the Liberty Head Double Eagle.
The most significant silver discovery in history, the Comstock Lode, occurred in Virginia City, NV, in 1859. It also yielded a considerable amount of raw gold.
During the initial years following the Comstock discovery, raw gold had to be transported through the perilous Sierra Nevada Mountains to reach the nearest mint, located 200 miles away in San Francisco.
As a result, the Carson City mint was built and began operations in 1870 and quickly started producing $20 Type 2 Double Eagles, although in very limited quantities.
There is no such thing as a common Carson City $20 Liberty Head Gold Double Eagle.
The Type 2 1870-CC Gold $20 Liberty Head Double Eagle is a great rarity; only 3,789 coins were minted, and their survival rate is estimated to be less than 50 in All Grades.
For investors and collectors, owning an 1870-CC (Carson City) $20 Liberty Head Double Eagle is a dream come true, regardless of its condition or grade, and is very expensive!
Double Eagles from Carson City, minted in the 1870s, experienced widespread circulation, hoarding, and melting. Type 2 "CC" Double Eagles in Mint State condition are extremely rare, highly sought after, and renowned globally.
$20 LIBERTY TYPE 3 "TWENTY DOLLARS" (1877-1907)
In 1877, the Type 2 $20 Double Eagle underwent a design modification. The letter D was removed from the bottom of the coin's reverse side (tails) and replaced with "Dollars," fully spelled out.
In the 1880s, millions of Type 3 $20 Liberty Double Eagles were shipped to Europe to facilitate international transactions.
For many years, the $20 Type 3 coins that arrived in Europe were either melted or stored away in foreign bank vaults.
The San Francisco Mint produced a significant number of Type 3 Double Eagles from 1877 to 1883.
As a result, in 1881, production of the $20 Liberty at the main Mint in Philadelphia sharply declined due to the public's lack of use of the coins.
$20 Double Eagles were seldom seen or circulated in the East; ironically, those minted at the main Mint were either shipped West, exported, or melted.
During the seven years from 1881 to 1887, only 4,521 Type 3 coins were minted in Philadelphia, with none produced in 1882, 1883, and 1887.
The New Orleans Mint reopened after the Civil War and the post "Reconstruction Era" in 1879, producing just 2,235 coins for circulation.
The 1879-O is now considered a true rarity. Even in circulated condition, it is a challenge to find and commands a significant premium.
Type 3 Carson City Double Eagles experienced widespread circulation, hoarding, and melting across the Far West until the mint closed in 1893.
After the Carson City Mint's closure, the Philadelphia and San Francisco Mints continued to produce Type 3 Double Eagles until 1907. The Denver Mint opened in 1906 and minted the final two years of Type 3 $20 coins.
MINUTEMAN RARE COIN
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