1863 $20 Liberty PCGS AU58 CAC
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Double eagles, the largest denomination for a circulating American coin, came into existence as a result of the California gold rush. The Mint was receiving vast amounts of Californian gold bullion to be turned into coins. In addition to depleting the deposited gold bullion at a greater rate, it was reasoned that a $20 gold coin would be especially useful in international transactions and large domestic dealings. In January 1849, Congress introduced a bill to create 1-dollar gold coins. In February of 1849 an amendment was added which authorized the creation of the double eagle. The bill was passed in March of the same year, and at once established both our smallest and largest circulating gold denominations. There existed at the time some reservations as to the wisdom of creating this new coin. To satisfy those concerns, the legislation authorized the new coin for only 2 years, allowing for its demise if it proved to be unpopular. This provision was never needed; the coin was immensely popular, as evidenced by the fact that over 170 million double eagles were minted by the time gold coinage ended in 1933.
The obverse of the Liberty Head design by Chief Engraver James Longacre mirrors his design for the 1-dollar gold piece. The portrait of Liberty is based on a Greco-Roman statue, Venus Accroupie, which resided in a Philadelphia museum. Longacre was so taken with this statue he used a modified version of it for the obverse of the $1 gold, $3 gold, $20 gold, Indian cent, 3-cent nickel, and a number of pattern pieces.
A LITTLE STICKER MAKES A BIG DIFFERENCE.
Within each number of the coin grading scale is a small range of condition from low-end to high-end. Certified coins of the same grade can be of varying quality. Many of today’s collectors want coins that are solid or premium quality for their assigned grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins … and award our sticker only to those coins that meet the standard for today’s selective buyer.
WHAT THE CAC STICKER MEANS:
- Verified. Your coin has been verified as meeting the standard for strict quality within its grade.
- Guaranteed. CAC stands behind our verification by making markets in most actively traded coins.
THE CAC STICKER IS BACKED BY EXPERIENCE.
CAC was founded by leading members of the numismatic community, including John Albanese, a respected authority on coin grading and the rare coin market.