A Golden Age
The Double Eagle $20.00 coin has a long, storied history as one of the United State’s most historic gold coins. This sought after coin was first minted in 1849 and owes much of its success to the California gold rush that had its beginnings in 1848.

The discovery of gold in California created such an influx of gold into the economy that the United States Mint in Philadelphia decided to make gold coins in larger denominations. In 1849 the United States authorized the striking of $20.00 coins. The new coins were 90% pure gold, containing 0.9675 ounces of gold, and were designed by Chief Engraver, James Barton Longacre. Because the current $10.00 gold coins were called Eagles, the larger, $20.00 coins were dubbed Double Eagles.

The largest gold coins ever to be struck by the United States Mint, Double Eagle coins were a prestigious symbol of wealth and prosperity. Only the most well to do owned these beautiful, 90% pure gold discs. In fact, in the mid to late 1800s; a Double Eagle coin would more than pay for a lavish weekend in New York City.

Two Sides of the Same Coin
Two series of gold Double Eagle coins were produced by the Unite States Mint – the Liberty Head and the Saint Gaudens series.

• The Liberty Head Double Eagle coin, produced from 1849 to 1907 was designed by James Barton Longacre, the Chief Engraver of the United States Mint when the Double Eagle was first struck. This Double Eagle features a woman’s head with pearl-bordered diadem inscribed LIBERTY on the obverse side, with 13 stars in an oval and sunrays above. The coin’s reverse side features a spread eagle with a shield on its breast. UNITED STATES OF AMERICA appears above the eagle with the denomination expression TWENTY D below. IN GOD WE TRUST was later added to the Liberty Head Double Eagle coin in 1866. In 1877 the denomination expression was changed to TWENTY DOLLARS rather than TWENTY D.
• The Saint Gaudens Double Eagle Coin – widely considered the most beautiful US coin ever made – was designed by the world renowned sculptor Augustus Saint Gaudens. The obverse side of the Saint Gaudens coin portrays Lady Liberty grasping a torch in her right hand and an olive branch in her left and sunrays behind her. LIBERTY appears above her head. The reverse side features a flying eagle over sunrays. Inscribed above are the words UNITED STATES OF AMERICA and TWENTY DOLLARS. In 1908 the Roman numerals displaying the coin mint dates were chanced to Arabic and IN GOD WE TRUST was added to the design.

The End of an Era
Double Eagle coins were issued from 1850 to 1907 and were regularly circulated until the financial instability following World War I, when private citizens began hoarding gold. Gold hoarding, its effect on the United States gold reserves, and the three day closure of all banks in the country during the bank crisis of the 1930s lead to the Gold Reserve Act of January 1934. This act put an end to circulation and private ownership of United States gold; and in late 1934, the 1933 issued $20.00 Double Eagles were melted down.

The Double Eagle Emerges
The Double Eagle gold coin has long been a desirable collectable coin, however it has taken somewhat of a backseat to more trendy coins. Well, no longer. The decline of the economy and the increase in the value of gold has made gold coins the stars of the coin collecting world, and with its size, weight, gold content, and historic significance the Double Eagle gold coin is the brightest star of them all.