37 Facts About Double Eagle Coin

The Double Eagle Coin: A Brief Overview

The Double Eagle coin is one of the most iconic pieces of American currency. Minted primarily in gold, these coins have a rich history and are highly sought after by collectors.

1. The Double Eagle coin was first minted in 1849.
2. It was designed by James B. Longacre, the Chief Engraver of the U.S. Mint.
3. The coin's name, "Double Eagle," comes from its value of $20, which is double that of the $10 Eagle coin.
4. The first Double Eagle coin was struck as a pattern coin and is now housed in the Smithsonian Institution.
5. The coin was produced until 1933, when the U.S. abandoned the gold standard.

Historical Significance

The Double Eagle coin holds a special place in American history. Its production spanned several important periods, including the California Gold Rush and the Great Depression.

6. The California Gold Rush of 1848-1855 greatly increased the availability of gold, leading to the creation of the Double Eagle coin.
7. During the Civil War, the coin was used to finance the Union's war efforts.
8. In 1933, President Franklin D. Roosevelt ordered the cessation of gold coin production to combat the Great Depression.
9. Most 1933 Double Eagle coins were melted down, making surviving specimens extremely rare.
10. The 1933 Double Eagle is considered one of the most valuable coins in the world.

Design and Features

The design of the Double Eagle coin is both intricate and symbolic. Each element was carefully chosen to represent American ideals and values.

11. The obverse side features Lady Liberty holding a torch and an olive branch.
12. The reverse side showcases a majestic eagle in flight.
13. The coin's edge is inscribed with the motto "E Pluribus Unum," meaning "Out of Many, One."
14. The 1907 Double Eagle coin, designed by Augustus Saint-Gaudens, is often regarded as the most beautiful American coin ever made.
15. The Saint-Gaudens design includes 46 stars, representing the states in the Union at the time.

Rarity and Value

The rarity of certain Double Eagle coins makes them highly valuable. Collectors and investors alike are drawn to these coins for their historical significance and beauty.

16. A 1933 Double Eagle sold for $7.6 million at auction in 2002.
17. Only a handful of 1933 Double Eagles are known to exist today.
18. The 1861 Paquet Reverse Double Eagle is another rare variant, with only two known specimens.
19. The 1927-D Double Eagle is one of the rarest coins from the Denver Mint.
20. High-grade Double Eagles from the 19th century can fetch prices in the hundreds of thousands of dollars.

Collecting Double Eagles

Collecting Double Eagle coins can be a rewarding hobby. These coins offer a tangible connection to America's past and can be a valuable investment.

21. Double Eagles are graded on a scale from 1 to 70, with higher grades indicating better condition.
22. Coins with original mint luster are particularly prized by collectors.
23. Some collectors focus on acquiring a complete set of Double Eagles from each year of production.
24. Others specialize in coins from a specific mint, such as the San Francisco or Denver Mint.
25. Double Eagles can be purchased from coin dealers, auctions, and online marketplaces.

Famous Double Eagles

Certain Double Eagle coins have achieved legendary status due to their rarity, beauty, or historical significance.

26. The 1933 Double Eagle owned by King Farouk of Egypt is one of the most famous examples.
27. Another 1933 Double Eagle was recovered from a shipwreck off the coast of Florida in 1982.
28. The 1907 Ultra High Relief Double Eagle is renowned for its stunning design and limited mintage.
29. The 1856-O Double Eagle is the rarest coin from the New Orleans Mint.
30. The 1866-S No Motto Double Eagle is notable for its lack of the "In God We Trust" inscription.

Legal and Ethical Considerations

Owning and trading Double Eagle coins can involve legal and ethical considerations, especially for rare and historically significant specimens.

31. The U.S. government considers most 1933 Double Eagles to be illegal to own.
32. In 2005, ten 1933 Double Eagles were seized by the U.S. Secret Service from a Philadelphia jeweler.
33. Legal battles over the ownership of rare Double Eagles can be lengthy and complex.
34. Ethical collectors ensure that their coins have clear provenance and are not stolen or counterfeit.
35. Some Double Eagles have been repatriated to the U.S. after being illegally exported.

Modern Reproductions

Modern reproductions of the Double Eagle coin allow collectors to enjoy these beautiful designs without the high cost of original specimens.

36. The U.S. Mint has produced several commemorative versions of the Double Eagle coin.
37. These modern reproductions are made from gold and feature the same iconic designs as the original coins.

The Legacy of the Double Eagle Coin

The Double Eagle Coin holds a special place in American history. From its creation in the mid-19th century to its role in the Gold Reserve Act of 1934, this coin has seen it all. Collectors and historians alike treasure these coins for their historical significance and intrinsic value. Whether you're a seasoned numismatist or just curious about American currency, the Double Eagle offers a fascinating glimpse into the past.

Its rarity and beauty make it a sought-after piece, often fetching high prices at auctions. The story of the Double Eagle Coin isn't just about money; it's about the evolution of the American economy and the artistry of coin design. So next time you come across a Double Eagle, remember you're holding a piece of history.