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PROOF DOUBLE EAGLES - PROOF DOUBLE EAGLE GOLD COINS - PROOF GOLD COINS

CLICK HERE to view Proof Double Eagles & Proof Gold Coins for Sale

Longacre Proof Double Eagles 1849-1907

The Double Eagle of 1849-1907 was designed by James Barton Longacre. For all dates the total proof mintage was 2,426 coins. Therefore, all proof double eagles of this type are rare, and some are exceedingly rare.

With the Gold Rush of 1849 in California, there was a large increase in the amount of gold coming into the Mint for coinage. Consequently, a bill was introduced in the House to coin $20.00 denominations called double eagles. Mint Director Robert Patterson tried to use this new coinage bill as an excuse to terminate James Longacre as the Engraver because of political and other differences. The Chief Coiner, Franklin Peale, with Patterson’s approval and help, was making medals on the side. Patterson was afraid that Longacre would interfere with Peale’s profitable business. Therefore, Peale would not cooperate with Longacre; however, Longacre prevailed and was able to retain his position and complete the dies for the double eagles.

Longacre designed the coin, which was substantially different from the previous capped Liberty eagle. It was similar to Gobrecht’s Large Cent Braided Hair Coronets of 1839 to 1857 in that instead of the cap, Liberty now wore coronet with her hair tied in the back. The reverse design depicted a modified heraldic eagle with a circle of stars above its head which are in turn surrounded by rays. The motto E PLURIBUS UNUM is on each side of the eagle on matching ribbons. This design remained in use for almost sixty years.

There were three types of Longacre double eagles. The first had the denomination abbreviated as TWENTY D. In 1866 the motto IN GOD WE TRUST was added to the top of the reverse creating Type 2. This change was made at the behest of Salmon P. Chase, Secretary of Treasury and Congress because of pressure brought about by the Reverend M.R. Watkinson of Ridleyville, Pennsylvania. This addition did not cause crowding of the design because it was only necessary to enlarge the circle of stars to accommodate the motto within it. The Type 3 coins were created in 1877 when the denomination was changed to TWENTY DOLLARS. This double eagle is known as the Longacre-Barber type.

When Longacre died on New Year’s Day in 1869, William Barber became the Chief Engraver. Charles Barber, William’s son, was his successor. Most of the issues were very large, and the coins became known as generic “Liberty Head Twenties.” Throughout the years since their production, but especially in the 1950’s and 60’s, these coins were held by investors as a hedge against inflation.

When he became the Engraver, Charles Barber attempted to improve the design. In so doing he smoothed the back of the eagle’s neck. The proofs of 1902 to 1907 have satiny, semi-brilliant devices instead of the previous proof coins which were frosty.

Since recent demand has increased for Liberty Head proof double eagles, the miniscule supply has been unable to keep up with it. The combined population reports show 1515 proof coins in all grades certified by both of the major grading services, and this number does not account for resubmissions.

In 1849, several proof patterns were struck in gold. One is known to exist today. It is one of the most famous rarities in the National Numismatic Collection in the Smithsonian Institution in Washington, D.C. It is reported that J.P. Morgan offered $35,000 for this coin in the early 1900’s, but his offer was not taken by the mint.

In 1850, two proofs were struck, one for the Congressional Committee on the Library and the other a part of the Longacre estate. The whereabouts of these coins is unknown. From 1851 to 1853, there were no proof double eagles struck.

In 1854, a double eagle proof was struck as a presentation piece for the city of Bremen. Its current location is unknown. Another 1854 proof double eagle was struck in San Francisco. The branch mint proof is now in the Smithsonian. While some 1800’s proof double eagles are available to collectors, the most readily available are dated after the turn of the century. For example the 1901 had a mintage of 96. In its population report NGC shows 42 proof coins for this date, and PGCS shows 41.

The double eagles of 1902 to 1907 have semi-brilliant devices. Prior issues were frosty. All are rare. For example, in 1902 there were 114 proof coins struck. The date on these coins is above center. It is a famous date because it has the lowest business strike mintage since 1893. In its population report NGC shows 27 proof coins for this date, and PGCS shows 33.

In 1904, 98 proof coins were struck. On this coin the date slants down to the right. Many survived but are found to have been mishandled. The NGC population report shows 39, and PCGS shows 64. (The higher combined total of the two grading services’ population reports shows that there have been a number of resubmissions and crossovers, which is true for all of the proof coins in this series.) In 1906, 94 were minted. It is known as the “Broken Nose” because of an over polished die. The NGC population report shows 44, and PCGS shows 53.

Specifications:
Edge: Reeded
Weight: 33.436 grams (516 grains) (1.075 troy ounces)
Diameter: 34 millimeters
Composition: 90% gold, 10% copper
Gold Content: 30.093 grams (464.4 grains) (0.9675 troy ounces)

LIBERTY HEAD TYPE 1
DATE MINTAGE FOR CIRCULATION MINTAGE OF PROOFS NOTES
1849 Proof Double Eagle 0 2 known? The only known example is in the National Numismatic Collection at the Smithsonian Institution. A second example may be in private hands.
1854-S Proof Double Eagle 141,468 1  
1857 Proof Double Eagle 439,375 est. 5  
1858 Proof Double Eagle 211,714 est. 10  
1859 Proof Double Eagle 43,597 80  
1860 Proof Double Eagle 577,670 59  
1861 Proof Double Eagle 2,976,453 66 Only three examples are known of the variety with a reverse designed by Anthony Pacquet.
1862 Proof Double Eagle 92,133 35  
1863 Proof Double Eagle 142,790 30  
1864 Proof Double Eagle 204,235 50  
1865 Proof Double Eagle 351,175 25  
LIBERTY HEAD TYPE 2
DATE MINTAGE FOR CIRCULATION MINTAGE OF PROOFS NOTES
1866 Proof Double Eagle
698,745
30  
1867 Proof Double Eagle 251,015
50  
1868 Proof Double Eagle 98,575
25  
1869 Proof Double Eagle 175,130 25  
1870 Proof Double Eagle 155,150
35  
1871 Proof Double Eagle 80,120
30  
1872 Proof Double Eagle 251,850
30  
1873 Proof Double Eagle 1,709,800
25
Found with Open and Closed 3's in the date.
1874 Proof Double Eagle 366,780
20  
1875 Proof Double Eagle 295,720
20  
1876 Proof Double Eagle 583,860
45  
LIBERTY HEAD TYPE 3
DATE MINTAGE FOR CIRCULATION MINTAGE OF PROOFS NOTES
1877 Proof Double Eagle
397,650
20  
1878 Proof Double Eagle 543,625
20  
1879 Proof Double Eagle 207,600
30  
1880 Proof Double Eagle 51,420
36  
1881 Proof Double Eagle 2,199
61  
1882 Proof Double Eagle 571
59  
1883 Proof Double Eagle 0
92 Struck only as Proofs.
1884 Proof Double Eagle 0
71 Struck only as Proofs.
1885 Proof Double Eagle 751
77  
1886 Proof Double Eagle 1,000
106  
1887 Proof Double Eagle 0
121 Struck only as Proofs.
1888 Proof Double Eagle 226,161 105  
1889 Proof Double Eagle 44,070
41
 
1890 Proof Double Eagle 75,940
55  
1891 Proof Double Eagle 1,390
52  
1892 Proof Double Eagle 4,430
93  
1893 Proof Double Eagle 344,280
59  
1894 Proof Double Eagle 1,368,940
50  
1895 Proof Double Eagle 1,114,605
51  
1896 Proof Double Eagle 792,535
128  
1897 Proof Double Eagle 1,383,175
86  
1898 Proof Double Eagle 170,395
75  
1899 Proof Double Eagle 1,669,300
84  
1900 Proof Double Eagle 1,874,460
124  
1901 Proof Double Eagle 111,430
96  
1902 Proof Double Eagle 31,140
114  
1903 Proof Double Eagle 287,270
158  
1904 Proof Double Eagle 6,256,699
98  
1905 Proof Double Eagle 58,919
92  
1906 Proof Double Eagle 69,690
94  
1906-D Proof Double Eagle 620,250
6  
1907 Proof Double Eagle 1,451,786
78  
1907-D Proof Double Eagle 842,250
1  


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