Coins have been part of our world for a long time. They are not just money; they also tell stories about our culture and history. One of the most fascinating coins in the United States is the Coronet $20 double eagle. This gold coin was minted in the late 1800s and early 1900s, and it represents both wealth and art. In this article, we will learn about the history, design, and value of the Coronet double eagle, and find out why it is so popular among collectors today.
The History of the Coronet $20 Double Eagle
Why We Needed a Bigger Coin
The Coronet $20 double eagle was created during a time when the U.S. economy was growing fast. As people moved west and businesses boomed, there was a need for larger coins. The smaller $10 eagle coin was not enough for many transactions. This is why the $20 double eagle was introduced.
Approval to Mint the Coin
In 1849, the U.S. Congress decided to allow the minting of the double eagle. The first coins were made in 1850, but the design we see today was introduced later. The 1849 version was made in small numbers and didn’t get used much.
The Design of the Coronet $20 Double Eagle
The Front of the Coin
The front of the Coronet double eagle shows Lady Liberty, created by the famous engraver James B. Longacre. Lady Liberty wears a crown with the word “LIBERTY” on it. This design represents freedom and American values. The year the coin was made is also written on this side.
The Back of the Coin
On the back side of the coin, there is an eagle with its wings spread out. The eagle holds a ribbon that says “E PLURIBUS UNUM,” which means “Out of Many, One.” The eagle is surrounded by a laurel wreath, symbolizing victory and peace. This side also shows the coin’s value of “TWENTY DOLLARS” and “UNITED STATES OF AMERICA.”
Changes Over Time
Over the years, different versions of the Coronet double eagle were made. One important version from 1866 included the phrase “IN GOD WE TRUST” on the back. This change showed how religious feelings grew after the Civil War. However, not all double eagles had this motto during those early years.
Minting and Availability
Where the Coins Were Made
The Coronet $20 double eagle was minted in several places, including the Philadelphia Mint, San Francisco Mint, and New Orleans Mint. Each mint had its own methods of making coins, leading to slight differences.
How Many Were Made
The number of Coronet double eagles produced varied each year. Some years saw a lot of coins made, while others had very few. For example, in 1877, over 1.2 million coins were made, but in 1904, far fewer were produced, making the latter much rarer and valuable.
Importance of Rarity
For collectors, the number of coins made is essential. Coins made in smaller quantities are usually worth more because they are harder to find. Collectors often look for these rare coins to improve their collections.
The Value of the Coronet $20 Double Eagle
What Affects Its Value
The value of the Coronet $20 double eagle can change a lot depending on several factors:
- Condition: Coins in great shape (graded as MS-65 or higher) can sell for much more than those in average condition.
- Rarity: Some years had fewer coins made, making them rarer and more valuable.
- Market Demand: The interest in gold coins and collectors’ willingness to pay can influence how much the double eagle is worth.
Recent Market Trends
Recently, more people have been interested in gold coins as a way to protect against inflation and economic uncertainty. The value of the Coronet $20 double eagle has gone up as collectors and investors want to buy gold. Coins that used to cost a few thousand dollars can now sell for tens of thousands, depending on their condition and rarity.
Auction Prices
High-quality examples of rare Coronet double eagles have been sold at auctions for over $100,000. This shows how much collectors value this special coin.
The Coronet $20 Double Eagle in Popular Culture
A Symbol of Wealth
The Coronet $20 double eagle has become a symbol of wealth in America. It represents the rich lifestyles of the Gilded Age, a time in the late 1800s when the country experienced rapid growth and wealth differences.
Passion of Collectors
For coin collectors, the Coronet double eagle is not just about money; it’s about history. Finding a rare coin can be very exciting and adds to the love for coin collecting. Collectors often share their stories and discoveries, creating a lively community.
Appearances in Media
The Coronet double eagle has also appeared in movies and TV shows, symbolizing wealth and power. Its unique design and history make it an interesting part of many stories, highlighting its place in popular culture.
Collecting the Coronet $20 Double Eagle
Tips for New Collectors
If you want to start collecting the Coronet $20 double eagle, here are some helpful tips:
- Do Your Research: Learn about the different years, mint marks, and types of coins to make better choices when buying.
- Buy from Trusted Dealers: Make sure to buy from reliable coin dealers who guarantee the authenticity of their coins.
- Attend Coin Shows: Coin shows are great places to see various coins and meet other collectors.
- Invest in Graded Coins: Buying coins that have been graded by professionals can help ensure their value.
- Join Collecting Groups: Becoming part of a coin-collecting club can give you support and resources as you learn.
Building a Great Collection
When building your collection, think about focusing on specific years or designs of the Coronet double eagle that interest you. This way, your collection can be more meaningful and unique to you.
The Future of the Coronet $20 Double Eagle
Staying Popular
As more people become interested in gold coins, the Coronet $20 double eagle is likely to stay a popular choice. Its beauty, history, and potential to increase in value make it appealing to both new and experienced collectors.
Remembering Its Legacy
The Coronet $20 double eagle is more than just a coin; it tells a story about American history and currency. As collectors and historians continue to study this coin, its significance will be preserved for future generations.
Technology and Coin Collecting
With technology, collectors can now find lots of information, buy coins online, and connect with others who share their passion. This will likely help keep the Coronet double eagle and other historic coins popular in the future.
Conclusion
The Coronet $20 double eagle is not just money; it is a piece of history that shows wealth and art. Its beautiful design and rich background make it a treasure for collectors and investors. Whether you are new to coin collecting or have been doing it for years, learning about the Coronet double eagle can enhance your experience.
As we explore the world of coins, the Coronet double eagle stands out as a remarkable example of American culture. By understanding its design, history, and market trends, we can appreciate its role in shaping our economy and history. The legacy of the Coronet $20 double eagle will continue to inspire collectors and enthusiasts for years to come.
FAQs
What is the Coronet $20 double eagle coin?
The Coronet $20 double eagle is a gold coin that was minted in the United States from 1849 to 1907. It features a design with Lady Liberty on the front and an eagle on the back. This coin was created to serve as a larger denomination of currency, reflecting the growing economy of the United States during that period.
Why is it called a “double eagle”?
The term “double eagle” refers to the coin’s value of twenty dollars. The word “eagle” has historically been used to describe U.S. gold coins, where a single eagle is worth ten dollars. Therefore, a “double eagle” represents twice that value, making it a $20 coin.
What are the key design features of the Coronet $20
The obverse (front) of the Coronet $20 double eagle features a portrait of Lady Liberty wearing a coronet inscribed with the word “LIBERTY.” The reverse (back) displays a majestic eagle with outstretched wings, holding a ribbon that says “E PLURIBUS UNUM,” and is surrounded by a laurel wreath. The coin also includes the inscriptions “UNITED STATES OF AMERICA” and “TWENTY DOLLARS.”
How can I determine the value of a Coronet $20 double eagle coin?
The value of a Coronet $20 double eagle coin depends on several factors, including its condition (grade), rarity (mintage numbers), and current market demand for gold. Coins in excellent condition and those from years with lower mintage are typically worth more. It’s advisable to consult a professional coin dealer or use price guides to get an accurate assessment of its value.
Are there any special versions of the Coronet $20 double eagle?
Yes, there are special versions of the Coronet $20 double eagle. One notable version is the 1866 coin, which was the first to include the motto “IN GOD WE TRUST” on the reverse side. Other variations include coins with different mint marks from various locations, such as the Philadelphia Mint, San Francisco Mint, and New Orleans Mint, which can affect their rarity and value.