The 1849 Double Eagle gold coin holds a unique and significant place in US numismatic history, making it exceptionally valuable.
Here’s why:
- Rarity: Only one genuine 1849 Double Eagle is known to exist, a pattern coin housed in the Smithsonian Institution’s National Numismatic Collection. This coin is a prototype for the $20 gold pieces (Double Eagles) that began circulating in 1850. Any other 1849 Double Eagle encountered should be considered a copy or replica until thoroughly authenticated by a coin expert.
- Historical Significance: The 1849 Double Eagle was struck amidst the California Gold Rush, a pivotal moment in American history that dramatically increased the amount of gold available and spurred the creation of higher denomination coinage.
- Value: The 1849 Double Eagle is considered the rarest and most valuable US coin. Its value is estimated to be around $20 million. This exceptional value stems from its singularity and the substantial historical importance it embodies.
It’s important to note that the term “Double Eagle” refers to a $20 gold coin with a gold content of 0.9675 troy ounces and a fineness of 900 (90% gold, 10% copper). While other Double Eagles from 1850 onwards were circulated, the 1849 Double Eagle is uniquely distinguished by its year and status as a pattern coin.
Therefore, owning an 1849 Double Eagle is an extraordinary rarity, a testament to American history and the California Gold Rush era.
Why is the 1849 Double Eagle so rare?
Great question! Longacre, the artist selected to design the new large coin, encountered initial opposition from Mint officials, and it was late December before the first two pattern double eagles could be struck. One disappeared long ago, leaving this as the only surviving gold pattern from 1849.
How much is a Double Eagle gold coin worth?
I can help with that. In terms of value, a Liberty Head double eagle gold coin with a face value of $20 and in average condition is valued at around $2,000. Things can get a lot sweeter if the coin is in a certified high mint state (MS+) as it can fetch as much as $6,000!