1851-O Double Eagle (1851-O $20) PCGS XF45. This New Orleans double eagle still has some luster surviving on Liberty’s hair and on the eagle’s head. There are a few tiny contact marks on Liberty’s cheek and none noticeable on the reverse. The coin has light, even wear, which accounts for its uncirculated grade. While this date is often weakly struck, the present coin shows full details on all but the very high points of the reverse.

The double eagle was developed because of the discovery of huge quantities of gold in California in 1849. Large domestic and international transactions could be done much more conveniently with a large size coin. Despite political intrigue at the Mint, James Longacre maintained his position as Engraver and designed the Liberty Head, No Motto coin.

A hoard of gold coin was found in 1934 in Baltimore by two boys. In it were over 300 double eagles, dating from 1834 to1856. Most graded from XF to uncirculated.