1865 $20 Liberty Gold Double Eagle NGC MS62 CAC

Introduction

The 1865 $20 Liberty Gold Double Eagle graded NGC MS62 CAC is a Mint State example of classic nineteenth-century United States gold coinage. Certified MS62 by Numismatic Guaranty Company (NGC) and approved by Certified Acceptance Corporation (CAC), this Philadelphia Mint issue represents the final year the original Type I Liberty Head Double Eagle was produced at Philadelphia. Containing approximately .9675 troy ounces of pure gold, the 1865 Double Eagle combines substantial precious metal content, Civil War-era history, and the appeal of a well-preserved early United States gold coin.

History

The Liberty Head Double Eagle was introduced in 1850 following the California Gold Rush, which dramatically increased the nation's gold supply and created the need for a larger gold denomination. Designed by U.S. Mint Chief Engraver James B. Longacre, the $20 Double Eagle provided an efficient way to convert newly mined gold into federal coinage and became an important instrument in banking, large commercial transactions, and international trade.

The Philadelphia Mint struck 351,175 business-strike Double Eagles in 1865, the final year of Type I production at that facility. The Type I design is distinguished by its original No Motto reverse and the abbreviated denomination TWENTY D. Beginning in 1866, the reverse was modified to include IN GOD WE TRUST, creating the Type II design. Many early Double Eagles entered commerce, were exported, or were later melted, limiting the number that survived in Mint State. The later recovery of hundreds of 1865 Double Eagles from the S.S. Republic significantly increased the number of Mint State examples available to collectors today.

Design

The obverse features James B. Longacre's left-facing portrait of Liberty wearing a coronet inscribed with LIBERTY. Thirteen stars representing the original states surround the portrait, while the date 1865 appears below. The classical portrait established the visual identity of the Liberty Head Double Eagle throughout its long nineteenth-century run.

The reverse depicts a heraldic eagle with a shield across its breast, holding an olive branch and arrows in its talons. An oval of thirteen stars and a burst of rays appear above the eagle, while the inscriptions UNITED STATES OF AMERICA and TWENTY D. identify the issuing nation and denomination. As a Type I issue, the reverse does not include IN GOD WE TRUST. The absence of a mintmark identifies this coin as a product of the Philadelphia Mint.