The 1859 Coronet Head Gold $20 Double Eagle is a stunning piece of American history. It represents a time when gold coins were the backbone of the American economy and is highly sought after by collectors today. In this article, we will explore the design, history, value, and significance of this remarkable coin.
Introduction to the Coronet Head Design
The Coronet Head design was created by engraver James B. Longacre and was used on gold coins from 1849 to 1907. The 1859 Double Eagle is notable for its size and the richness of its gold content. Each coin contains 33.4 grams of gold, equivalent to about 1 ounce. The obverse (front) of the coin features a portrait of Lady Liberty, while the reverse displays a majestic eagle.
The Design Features
Obverse Side
The obverse of the 1859 Double Eagle shows Lady Liberty facing left, adorned with a diadem that signifies her status as a symbol of freedom. Surrounding her head are 13 stars, representing the original colonies of the United States. The inscription reads “LIBERTY” above her head.
Reverse Side
On the reverse, a powerful eagle is depicted with outstretched wings. The eagle holds a shield and olive branch, symbolizing strength and peace. Above the eagle are the words “UNITED STATES OF AMERICA” and below it, “TWENTY DOLLARS.” The design emphasizes the national identity and prosperity of the United States.
Historical Context
The 1859 Coronet Head Gold Double Eagle was minted during a significant period in American history. The country was experiencing economic growth and stability, largely due to the California Gold Rush, which began in 1848. This influx of gold allowed the U.S. government to issue more gold coins, leading to a booming economy.
Minting Process
The 1859 Double Eagle was minted in Philadelphia, one of the primary minting facilities at the time. The coin was produced using the coinage act of 1837, which established the specifications for gold coins in the United States.
Rarity and Production Numbers
Only 1,128 pieces of the 1859 Coronet Head Double Eagle were minted, making it a rare find for collectors. The low production numbers contribute to its high value today. As time went on, many of these coins were melted down for their gold content, further reducing their availability.
Value of the 1859 Coronet Head Gold Double Eagle
The value of the 1859 Coronet Head Gold $20 Double Eagle varies based on its condition and rarity. Coins are graded on a scale from Poor (P) to Perfect Uncirculated (MS-70). Here’s a general breakdown of value by grade:
| Grade | Estimated Value |
|---|---|
| Poor (P) | $1,500 – $2,000 |
| Fair (G) | $2,500 – $3,500 |
| Good (VG) | $3,500 – $5,000 |
| Very Good (F) | $5,000 – $7,000 |
| Fine (VF) | $7,000 – $12,000 |
| Very Fine (EF) | $12,000 – $18,000 |
| About Uncirculated (AU) | $18,000 – $25,000 |
| Uncirculated (MS) | $25,000 – $50,000+ |
These values can fluctuate based on market demand and current gold prices. Collectors often seek coins with higher grades, which can command premium prices at auctions.
Why Collectors Value the 1859 Coronet Head Gold Double Eagle
Collectors appreciate the 1859 Coronet Head Gold Head Double Eagle for its historical significance, beautiful design, and gold content. It symbolizes a period of American prosperity and growth. Owning a piece of this history is not just an investment; it’s a way to connect with the past and appreciate the artistry of coinage.
Caring for Your 1859 Coronet Head Gold Double Eagle
If you own or plan to purchase an 1859 Coronet Head Gold Double Eagle, it’s essential to care for it properly. Here are some tips:
- Handling: Always handle the coin by the edges to avoid fingerprints and oils from your skin damaging the surface.
- Storage: Store coins in a cool, dry place. Use protective holders or capsules to prevent scratches and tarnishing.
- Cleaning: Never clean a coin unless you’re a professional. Cleaning can reduce its value significantly.
Conclusion
The 1859 Coronet Head Gold $20 Double Eagle is more than just a coin; it’s a symbol of American history and prosperity. With its striking design and limited availability, it holds a special place in the hearts of collectors and history enthusiasts alike. Whether you’re an experienced collector or just starting, understanding the value and significance of this coin can enhance your appreciation for the rich history it represents. Remember, coins like the 1859 Double Eagle are not just investments; they are treasures that connect us to our past.
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FAQs
What is the significance of the 1859 Coronet Head Gold $20 Double Eagle?
The 1859 Double Eagle represents a time of economic growth in America and is a beautiful example of coin design from that era.
How much gold is in the 1859 Double Eagle?
Each 1859 Double Eagle contains approximately 1 ounce of gold.
Why is the 1859 Double Eagle rare?
Only 1,128 coins were minted, and many were melted down for their gold content, making it a rare find for collectors.
How can I determine the value of my 1859 Double Eagle?
The value is based on the coin’s condition and grade. Consulting a professional appraiser or using a grading guide can help you assess its worth.
Can I clean my 1859 Double Eagle?
It’s not recommended to clean coins unless you’re a professional, as cleaning can reduce their value.
Where should I store my 1859 Double Eagle?
Store it in a cool, dry place in a protective holder or capsule to prevent damage.