Double eagle
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A Double Eagle is a gold coin of the United States with a denomination of $20. Although the "eagle"-based nomenclature for gold U.S. coinage is often assumed to be merely slang, the "eagle," "half-eagle" and "quarter-eagle" were specifically given these names in the Act of Congress that originally authorized them ("An Act establishing a Mint, and regulating Coins of the United States", section 9, April 2, 1792). Likewise, the Double Eagle was specifically created as such by name ("An Act to authorize the Coinage of Gold Dollars and Double Eagles", title and section 1, March 3, 1849).
The first double eagle was minted in 1849, coinciding with the California Gold Rush. In that year, the mint produced one piece, which now resides in the Smithsonian Institution in Washington DC. In 1850 regular production began. Prior to that time, eagles with a denomination of $10 were the largest denomination of US coin. $10 eagles were produced beginning in 1795, just two years after the first U.S. mint opened. Since the $20 gold piece had twice the value of the eagle, these coins were designated "double eagles".
Regular issue double eagles come in two major and five minor types as follows:
- Liberty Coronet With No Motto 1849-1866
- Liberty Coronet Twenty D. 1866-1876
- Liberty Coronet with Motto 1877-1907
- Saint Gaudens High Relief Roman Numerals 1907
- Saint Gaudens Arabic Numerals 1907-1932
The Saint Gaudens' double eagle is named for the designer, Augustus St. Gaudens, one of the premier sculptors in American history. Theodore Roosevelt imposed upon him in his last few years to redesign the coinage of the nation at the beginning of the 20th century. St. Gaudens' work on the high relief $20 gold piece is one of the most extraordinary pieces of art on any American coin. It is truly breathtaking. Even in the flattened down version that the mint finally insisted upon, it is a beautiful coin. The high relief coin took up to eleven strikes to bring up the details. Working as hard as they could, they only managed to strike 11,250 of these wonderful pieces of art in 1907.
In the summer of 2002, a double eagle dated 1933 was auctioned off for over $7 million US dollars. This shattered the old record of just over $4 million dollars paid at a public auction for a coin. This is a unique piece in that it is the only 1933 double eagle the U.S. government has deemed legal to own. Of course, other dates of double eagles are legal to own. Even illegal copies of the 1933 double eagle would be worth hundreds of thousands of dollars, but it would be illegal for a U.S. coin dealer to broker a deal with one of these coins. There is no other date of double eagle that is worth a significant fraction of this extraordinary coin. In fact a complete uncirculated set of all other St. Gauden's double eagles could be put together for just over a million dollars including the extremely rare proof prototypes. Without these rare patterns, the set would be less than $50,000.
The St. Gaudens obverse design was reused in the American Eagle gold bullion coins that were instituted in 1986.
Liberty Coronet $20 gold pieces are less often encountered, and the common subtype commands less than the St. Gaudens' type, due to the less desirable artwork and therefore lower demand. In 1877, the motto "In God We Trust" was added to the Liberty Coronet double eagle creating another subtype.
Current Events
In August of 2005, the United States Mint recovered ten unauthorized 1933 Double Eagle coins from a private collector who had contacted the United States Mint to facilitate their surrender. Joan S. Langbord has claimed that she inherited the coins from her father, a suspect in the original theft, but is now planning a federal suit to recover the coins after her hopes of receiving monetary compensation from the federal government were not realized. The Mint has stated an intention to save the coins for display.See also
External links
- [US Double Eagle by year and type.] Histories, photos, and more.
- [Pictures of Gold Double Eagles]
| Obsolete United States Currency and Coinage |
| Topics: United States coinage | United States dollar | History of the United States dollar | Large denominations of currency |
| Currency: Compound Interest Treasury Note | Demand Note | Federal Reserve Bank Note | Gold Certificate | Interest Bearing Note | National Bank Note | National Gold Bank Note | Refunding Certificate | Silver Certificate | Treasury or 'Coin' Note | United States Note |
| Coins: Half Cent | Large Cent | Two-Cent Piece | Three-Cent Piece | Twenty-Cent Piece | Trade Dollar |
| Gold Coins: Gold Dollar | Quarter Eagle(.50) | Three-Dollar Piece | Half Eagle() | Eagle() | Double Eagle() |
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