DOUBLE EAGLE 1849-1866 Coronet

Following a pattern coinage in 1849, the double eagle or $20 gold piece made its debut in circulation in 1850. These pieces are always among the most spectacular to view in any collection. Certainly the finer quality coins have an inherent beauty that causes anyone to marvel at the skill of their designers. Designed by James B. Longacre, the obverse features the compact head of Miss Liberty, her hair tied in a bun, wearing a coronet inscribed LIBERTY. Stars surround, and the date is below.

The reverse consists of an eagle with a squared-off shield on its breast, holding an olive branch and arrows, with ornaments to the left and right, stars and rays above, with the inscription UNITED STATES OF AMERICA, TWENTY D. surrounding. Double eagles of this type were made in large quantities from 1850 onward, although the span is sprinkled with scarce and rare issues.

The type collector will have no difficulty acquiring an example of one of the more plentiful dates in Very Fine to Extremely Fine preservation. AU pieces are scarce. Uncirculated pieces are very scarce, and superb Uncirculated coins are exceedingly rare, although occasionally pieces dated 1861 come on the market. Proofs in all instances are exceedingly rare.

Early San Francisco Mint issues, 1854-S through 1857-S, are sometimes seen with lightly etched surfaces. Such pieces were recovered from shipwrecks and spent a century or more subjected to the effects of salt water. The quality may be diminished but the story behind the coin may be worth the price of admission.