Liberty Double Eagle

The Liberty Double Eagle is a $20 gold coin authorized by the Coinage Act of 1849, which allowed the U.S. Mint to produce both Gold Dollars and Double Eagles. First struck during the California Gold Rush, this coin became an enduring symbol of the era’s prosperity and innovation.

Liberty Double Eagle Coin Highlights

• Composition: .9675 troy ounces of gold (90% gold, 10% copper alloy)
• Weight: 1.0748 troy ounces (33.43 grams)
• Designer: James B. Longacre
• Largest denomination in regular-issue U.S. coinage

History of the Liberty Double Eagle

Before the Liberty Double Eagle debuted, the United States faced financial turmoil, including the Panic of 1837, which left the nation’s economy in disarray. The discovery of gold in 1848 transformed the economic landscape. When James Marshall unearthed gold at Sutter’s Mill in California, it sparked the Gold Rush, the largest and fastest increase in gold supply in U.S. history. This influx of wealth caused rampant inflation—staples like eggs soared to $3 each, while butter reached $16 per pound.

To manage this gold influx, Congress authorized the creation of $1 and $20 gold coins in 1849. Initially, lawmakers doubted the public would embrace the Double Eagle, but Senator Thomas Benton of Missouri championed the coin. His prediction of its popularity proved correct: the Double Eagle outlasted the Gold Dollar, remaining in production from 1849 until 1933, when President Roosevelt suspended gold coinage during the Great Depression. Over 174 million Double Eagles were minted during its 85-year run.

Design and Evolution

The Liberty Double Eagle was designed by James B. Longacre, who succeeded Christian Gobrecht as Chief Engraver of the U.S. Mint in 1844. Drawing inspiration from Gobrecht’s Greco-Roman Liberty Head design for the $10 Eagle, Longacre depicted Liberty wearing a coronet inscribed with “LIBERTY,” surrounded by 13 stars representing the original colonies. The reverse features a majestic eagle with outstretched wings, clutching an olive branch and arrows in its talons.

The design underwent three major iterations:

1. Type 1 (1850–1866): The original design lacked the motto “In God We Trust.”
2. Type 2 (1866–1876): The motto was added, creating a new subtype. Only 16,160,798 coins were minted across three U.S. Mint facilities, making this type highly sought after by collectors.
3. Type 3 (1877–1907): The denomination’s inscription changed from “TWENTY D” to “TWENTY DOLLARS.” With over 64 million business strikes and 2,426 proofs produced, this subtype had the highest mintage of the series.

Legacy and Investment Appeal

In recent years, Liberty Double Eagles have become a popular choice for investors seeking an alternative to modern gold bullion coins like the Krugerrand, Maple Leaf, or American Eagle. The coin’s historical significance, combined with its intrinsic gold value, makes it an attractive hedge against inflation.

Advanced collectors often strive to assemble complete sets of Type 2 Liberty Double Eagles from all three mints—a formidable and costly endeavor due to the rarity of certain specimens. Type 3 coins, while more common, also include ultra-rare pieces highly prized by seasoned numismatists.

Holding a Liberty Double Eagle is a tangible connection to a bygone era when wealth could be carried in the palm of one’s hand. These exquisitely crafted coins, once used in everyday transactions, are miniature works of art that reflect the craftsmanship of a different time.

At Constitutional Gold Group, we take pride in offering rare coins to both novice and experienced collectors. Our full-service concierge desk assists with building or completing collections, auctioning coins, or facilitating third-party sales. With our expertise, you can acquire prestigious specimens while avoiding common pitfalls in coin collecting.

Whether for investment or as a piece of history, the Liberty Double Eagle stands as a remarkable testament to America’s numismatic legacy—a true treasure to behold.