$20 Liberty
(Also known as the Coronet design)
1850-1907

Mintage:
Type I (1850-1866): 23.6 million
Type I, Pacquet Reverse (1861): Philadelphia: 3, San Francisco: 19,250
Type II (1866-1876): 16.0 million
Type III (1877-1907): 64.1 million

Designer: James B. Longacre

Also refer to General Information on US Gold Coins.

Because so much gold was discovered in California in 1848, there was a huge increase in the amount of gold coming into the Philadelphia Mint to be coined.  This increase strained the capacity of the Mint, so it was decided to create a $20 “double eagle.”  This way twice as much gold could be coined in the same amount of time it took to mint a $10 “eagle”.  Legislation approving the double eagle was passed in mid-1849 and at least two coins were minted in December 1849; one is now in the Smithsonian Institution.

Because $20 was a lot of money in the late-19^th century, the double eagle was mostly used for bank-to-bank transfers and for paying debts due to foreign investors.  Large numbers of the coins were made between 1850 and 1861, and between 1879 and 1907.  The Philadelphia Mint didn’t make very many double eagles from 1862 to 1894, while the New Orleans Mint was closed from mid-1861 to 1879.  The San Francisco Mint, on the other hand, was close to large gold supplies and made the majority of the double eagles minted from 1862 to 1894.

Types: 1) Type I: Coins minted 1850-1866.  120,000 of the coins minted in San Francisco in 1866 were Type I; the Philadelphia Mint minted its last Type I coins in 1865.  2) Type I, Pacquet Reverse: In 1861, in an attempt to improve the reverse, Assistant Engraver Anthony Pacquet redesigned the reverse with thinner letters.  However, the border was too thin to protect the coin from wear properly, so the reverse was abandoned and the coins melted.  It is believed that three Philadelphia Mint coins escaped melting.  The San Francisco Mint issued 19,250 coins before they received orders from Philadelphia to stop using the Pacquet reverse die.  3) Type II: Coins minted 1866-1876, which have the motto “In God We Trust” on the reverse.  On November 13, 1861, Rev. M. R. Watkinson of Ridleyville, PA, wrote to Secretary of the Treasury Salmon P. Chase recommending the addition of a religious motto to US coins.  On March 3, 1865, legislation was enacted that required “the motto ‘In God we trust’ to be placed upon such coins…as shall admit of such legend thereon.”  Also, the shield on the reverse was changed from straight to rococo sides.  4) Type III: Coins minted 1877-1907, on which the denomination on the reverse was changed to “TWENTY DOLLARS” from “TWENTY D.”  The reason for this design change is unclear.

Mints: Minted in Philadelphia (1850-1907), New Orleans (1850-1861, 1879), San Francisco (1854-1907), Carson City, NV, (1870-1893) and Denver (1906-1907).

Specifications: Size: 34 millimeters; Alloy: 90% gold, 10% copper; Weight: 33.436 grams (30.092 grams or 0.9677 troy oz. of pure gold).

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