20 Dollar USA (1776 - ) Gold

1902-S, United States. Beautiful Gold $20 (Double Eagle) Coin

Mint Year: 1902

Reference: KM-74.3.

Mint Place: San Francisco (S)

Denomination: 20 Dollars (Gold Double Eagle)

Material: Gold (.900)

Weight: 33.43gm

Diameter: 34mm

Obverse: Diademed head of Lady Liberty left, surrounded by 13 stars. Date (1902) below.

Diadem Inscription: LIBERTY



Reverse: Eagle with spread wings and US shield at chest and olive spray and arrows in claws, looking left. Banner with motto “IN GOD WE TRUST” above.

Comment: Decorative ornaments at sides with motto (“E PLURIBUS UNUM”) at sides.

Legend: UNITED STATES OF AMERICA TWENTY DOLLARS

The Half Eagle is a United States coin that was produced for circulation from 1795 to 1929, and in commemorative and bullion coins since the 1980’s. Composed almost entirely of gold, it has a face value of five dollars. Its production was authorized by The Act of April 2, 1792, and it was the first gold coin minted by the United States. Its 1800 purchasing power would be equivalent to $62.57 today.

A Double Eagle is a gold coin of the United States with a denomination of $20. (Its gold content of 0.9675 troy oz was worth $20 at the 1849 official price of $20.67/oz.) The coins are made from a 90% gold (0.900 fine = 21.6 kt) and 10% copper alloy.

The “Eagle”, “Half Eagle”, and “Quarter Eagle” were specifically given these names in the Act of Congress that originally authorized them (“An Act establishing a Mint, and regulating Coins of the United States”, section 9, April 2, 1792). Likewise, the Double Eagle was specifically created as such by name (“An Act to authorize the Coinage of Gold Dollars and Double Eagles”, title and section 1, March 3, 1849).

The first Double Eagle was minted in 1849, coinciding with the California Gold Rush. In that year, the mint produced two pieces in proof. The first resides in the Smithsonian Institution in Washington, D.C. The second was presented to then Treasury Secretary William M. Meredith and was later sold as part of his estate—the present location of this coin remains unknown.

In 1850 regular production began and continued until 1933 (when the official price of gold was changed to $35/oz by the Gold Reserve Act). Prior to 1850, Eagles with a denomination of $10 were the largest denomination of US coin. $10 Eagles were produced beginning in 1795, just two years after the first U.S. mint opened. Since the $20 gold piece had twice the value of the Eagle, these coins were designated “Double Eagles”. In 1850, the Double Eagle had the purchasing power of $1200 today.