Historical Introduction

$20 Liberty Double Eagle gold coins are one of the world’s most recognized gold pieces. A workhorse coin of trade, it was one of the building blocks of the growing U.S. economy and financial markets in the 19th and 20th centuries. $20 Liberty gold coins were used in every aspect of American economic life, from the average guy on the street to multi-million dollar international financial transactions. The classic portrait of Miss Liberty on the coin’s obverse will always serve as a powerful reminder of the emergence of the United States as a world power in the latter half of the Nineteenth Century.

During the time of the $20 Liberty’s issue, the official price of gold was $20.67 an ounce. The gold content of the Double Eagle was fixed at .9675 oz., equaling its $20 value in gold weight. Prior to 1849, the largest gold piece issued by the U.S. Government had been the $10 gold coin, known as the “Eagle,” first struck in 1795. The new $20 Liberty gold pieces quickly were dubbed “Double Eagles” because they were twice the size of the established and popular $10 “Eagles.” During the course of their mintage, $20 Liberty Double Eagle gold coins were produced in three varieties, Type 1, Type 2 and Type 3. (View mintage figures for $20 gold coins.)

Type 1 $20 Liberty Double Eagles, “No Motto”

The first U.S. $20 gold coins were minted in 1849. It is thought only two coins were struck dated 1849 (perhaps several others as well). One currently resides in the national collection at the Smithsonian Institution. Regular $20 Double Eagle production commenced in 1850 at the Philadelphia and New Orleans mints. San Francisco issues began in 1854, the year this western mint first opened. The last New Orleans mint $20 Liberty was struck in 1861. In the spring of that year the mint in New Orleans was seized, first by the State of Louisiana, then by the Confederacy. The Type 1 design became known as the “No Motto” design because, unlike later types, it did not feature the national motto “IN GOD WE TRUST” on the reverse.

Type 2 $20 Liberty Double Eagles, “With Motto”

Beginning in 1866, the motto “IN GOD WE TRUST” was added to the reverse of $20 Liberty gold coins for the first time. This alteration in the design of the coin quickly became known as the “With Motto” variety. Type 2 Double Eagles were struck from 1866 to 1876 at the Philadelphia and San Francisco mints. Beginning in 1870, the newly opened Carson City mint minted Type 2 $20 Liberty gold coins as well. $20, $10 and $5 gold coins were struck at this famous wild west mint for just twenty-three years, until it closed in 1893.

Type 3 $20 Liberty Double Eagles

In 1877, the $20 Liberty Double Eagle was modified for the third and last time. Miss Liberty’s portrait on the obverse was refined, now showing more delicate detail in the face and hair. On the reverse, the spelling of the value was changed from “TWENTY D.” to “TWENTY DOLLARS.” Type 3 Double Eagles were minted in Philadelphia, San Francisco, Carson City; they were also struck in New Orleans in 1879 only, and in Denver for just two years, 1906 and 1907. The last $20 Liberty Double Eagle gold coins were struck in 1907. In that year, Theodore Roosevelt commissioned the renowned sculptor Augustus Saint-Gaudens to create a new design for the $20 gold piece, one that would reflect the vibrancy of America as a dominant world leader.

Design Specifications Designer:      James B. Longacre Gross Weight:      33.346 grams Net Weight:      .96750 oz. pure gold Composition:      .900 gold, .100 copper Diameter:      34 mm, reeded edge.

Types Type 1, Without Motto on Reverse      1849-1866 Type 2, With Motto on Reverse      1866-1876 Type 3, Value spelled “Twenty Dollars”      1877-1907

Participating Mints      View mintage figures for $20 gold coins. Philadelphia      1849-1907 New Orleans      1850-1861, & 1879 San Francisco      1854-1907 Carson City      1870-1893

Special Issues In addition to “business strikes,” which were coins intended for use as currency, $20 Liberty Double Eagles were also struck as presentation pieces in Proof condition, intended to be given to foreign dignitaries and government officials, or to be sold to collectors. Proof coins are by definition struck at least twice, with specially prepared and polished dies on specially prepared and polished blanks. Proof coins feature razor sharp strikes, often with especially frosty devices (Miss Liberty’s image, for example) and highly polished, mirrored fields. Proof gold coins usually have very small mintage figures, normally from 25 to 125 pieces for a given year. Proof $20 Liberty gold coins were minted from 1859 to 1907. Most Proof $20 Liberty mintage figures average around 50 coins per year. Typically all Proof issues are struck only at the Philadelphia mint, although several Branch Mint Proof gold issues are known to exist.