Liberty Head double eagle

The Liberty Head Double Eagle: A Golden Legacy

Imagine a time when the largest American coin was worth twenty dollars in gold—a hefty sum by any standard! The Liberty Head double eagle, first minted in 1849, became more than just currency; it was a symbol of wealth and power. Designed by James B. Longacre, this coin was born out of necessity during the California Gold Rush, when larger denominations were needed for international transactions.

A Coin of Controversy

But the creation of the double eagle wasn’t without its challenges. The story behind it is a tale of political intrigue and personal conflict at the Philadelphia Mint. Chief Engraver James B. Longacre, appointed through Calhoun’s influence, faced opposition from his superior, Patterson, who despised Calhoun and saw Longacre as an outsider.

Was Longacre truly an outsider, or just a victim of political machinations?

The Design Process

Longacre began work on the new coins with no assistants. He completed the gold dollar design first and then requested help for the double eagle. The process was fraught with difficulties; a large wax model failed, but a plaster cast allowed it to continue. The steel die had to be hardened in Peale’s department, resulting in its catastrophic failure.

How many times did Longacre have to start from scratch before he finally got the design right?

The Birth of an Icon

Despite these setbacks, Longacre persevered. With the help of New York engraver Charles Cushing Wright and Peter F. Cross, the first obverse die was completed. The reverse was made by Patterson himself. The final set of dies were completed in February 1850 and accepted for production.

The Liberty Head double eagle featured Liberty’s head in a Greco-Roman style with thirteen stars surrounding her, while the reverse depicted an heraldic eagle holding a double ribbon inscribed ‘E Pluribus Unum.’ The design was praised by some but criticized for its simplicity. Longacre’s initials appeared on the truncation of the head, making it one of the first American federal coins to feature the designer’s initials.

A Popular Coin

The double eagle quickly became popular due to its production numbers. It was the most produced gold coin from 1850 to 1933, with far more gold being struck into twenty-dollar pieces than any other denomination combined. The double eagle represented the most efficient way to coin a given quantity of gold bullion.

Can you imagine how many hands these coins passed through over the years?

A Legacy of Gold

The San Francisco Mint opened in 1854, striking limited quantities due to local gold deposits. After Louisiana seceded from the Union, some double eagles were struck under Confederate authority. The word ‘LIBERTY’ on early double eagles was originally spelled with an I instead of a second L. A revised design with taller letters was introduced in 1860 but production was stopped due to a lack of rim protection.

How did the Civil War impact the minting process?

The End of an Era

In 1907, President Theodore Roosevelt complained about the designs on American coinage and requested that Augustus Saint-Gaudens create new designs for the four gold pieces. After his death in 1907, Chief Engraver Barber produced a low-relief version of the coin. Large quantities were melted in the 1930s, but millions remained and were later sold as investments.

What does this tell us about the value of gold during that time?

A Final Thought

The Liberty Head double eagle is more than just a coin; it’s a piece of history. From its birth in 1849 to its replacement by the Saint-Gaudens double eagle, this twenty-dollar gold piece has seen the rise and fall of empires, wars, and economic booms. It stands as a testament to the ingenuity and resilience of American craftsmanship.

As we look back on the Liberty Head double eagle, we can’t help but wonder what other treasures lie hidden in the annals of American numismatics. The story of this coin is a reminder that every piece of currency has its own unique history, waiting to be discovered.