The 1859 O Coronet Head Gold $20 Double Eagle is one of the most well-known coins in American history. This coin is an important part of U.S. numismatic history, known for its intricate design and rare minting. The $20 Double Eagle is a gold coin that was issued by the U.S. government, and the 1859 version is considered particularly special due to its limited mintage and the unique “O” mintmark. The coin’s high value and historical significance make it a favorite among collectors and investors alike. In this article, we will dive deeper into the history, design, value, and how this coin fits into the greater narrative of U.S. coinage.
History of the 1859 O Coronet Head Gold $20 Double Eagle
The 1859 O Coronet Head Gold $20 Double Eagle was minted at the New Orleans Mint, which is signified by the “O” mintmark on the coin. The Double Eagle coins were first issued in 1849, but by 1859, the U.S. Mint had refined their design and production process. The Coronet Head design, featured on the 1859 coin, was created by James B. Longacre, the Chief Engraver at the U.S. Mint.
The 1859 O coin was part of a series of gold coins issued during a period of American economic growth. Gold was highly valued at the time, and coins like the Double Eagle were often used in trade and investment. However, the 1859 O coin is particularly special because it was minted in relatively small numbers, making it rare and valuable today.
Design of the 1859 O Coronet Head Gold $20 Double Eagle
The Coronet Head design on the 1859 O Double Eagle features a profile of Lady Liberty wearing a coronet, or crown, which is where the design gets its name. The obverse (front) of the coin shows Lady Liberty with the inscription “LIBERTY” above her head and “1859” at the bottom, denoting the year it was minted.
On the reverse (back) side of the coin, the design features a large eagle with wings spread wide. Above the eagle, there is a banner that reads “UNITED STATES OF AMERICA”, and below the eagle is the coin’s denomination “$20.” Surrounding the eagle is a wreath, symbolizing peace and unity.
Value and Rarity of the 1859 O Coronet Head Gold $20 Double Eagle
The 1859 O Coronet Head Gold $20 Double Eagle is a highly valuable coin due to its rarity and historical importance. In terms of mintage, only around 140,000 coins were produced, which is considered a low number for a coin of this type. Because of this, the 1859 O Double Eagle is considered a rare collector’s item.
The value of an 1859 O Coronet Head Gold $20 Double Eagle can vary widely depending on its condition, with coins in excellent condition fetching significantly higher prices. In good condition, the coin may be worth several thousand dollars, but in higher grades (such as MS-63 or above), it can be worth tens of thousands of dollars. Coins with a higher level of preservation and little to no wear on the surfaces are especially desirable to collectors.
Why Collectors Love the 1859 O Coronet Head Gold $20 Double Eagle
Collectors value the 1859 O Coronet Head Gold $20 Double Eagle not only for its rarity but also for its beauty and craftsmanship. The intricate design by James B. Longacre is admired by numismatists, and the coin’s historical significance adds to its appeal. Owning one of these coins is considered a status symbol among collectors, and it offers a piece of American history that is both tangible and valuable.
How to Determine the Value of an 1859 O Coronet Head Gold $20 Double Eagle
When evaluating the value of the 1859 O Coronet Head Gold $20 Double Eagle, collectors and investors typically consider several factors:
- Condition: Coins that are well-preserved are worth significantly more than coins that show signs of wear. Coins in higher grades like MS-63 or MS-64 are especially valuable.
- Rarity: The 1859 O Double Eagle is rare, and only a limited number of coins were minted. A coin with fewer surviving examples will generally command a higher price.
- Demand: The demand for rare coins can fluctuate over time, affecting the price. However, the 1859 O Double Eagle remains in high demand among serious collectors.
- Certification: Having the coin certified by a reputable grading service like PCGS or NGC can increase its value by confirming its authenticity and grade.
Collecting the 1859 O Coronet Head Gold $20 Double Eagle
For those interested in collecting the 1859 O Coronet Head Gold $20 Double Eagle, it is essential to do research before making a purchase. Ensure that the coin is authentic and properly graded by a professional. It’s also important to buy from a reputable dealer or auction house to avoid counterfeit coins.
Table of Key Information about the 1859 O Coronet Head Gold $20 Double Eagle
| Feature | Details |
|---|---|
| Mintmark | O (New Orleans Mint) |
| Year of Minting | 1859 |
| Design | Coronet Head (Lady Liberty with crown) |
| Denomination | $20 |
| Obverse Design | Lady Liberty wearing a coronet |
| Reverse Design | Eagle with wreath and $20 denomination |
| Mintage | Approximately 140,000 coins |
| Estimated Value (in Good Condition) | Several thousand dollars |
| High-Grade Coin Value (MS-63) | Tens of thousands of dollars |
Conclusion
The 1859 O Coronet Head Gold $20 Double Eagle is a rare and highly valuable coin that continues to captivate collectors and investors alike. Its beautiful design, historical significance, and limited mintage make it one of the most sought-after coins in the world. Whether you are a seasoned numismatist or a new collector, adding this coin to your collection is sure to be a rewarding experience.
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FAQs
1. What is the 1859 O Coronet Head Gold $20 Double Eagle worth?
The value can vary greatly depending on the coin’s condition, but it can range from several thousand dollars to tens of thousands of dollars for high-grade examples.
2. How many 1859 O Coronet Head Gold $20 Double Eagles were minted?
Approximately 140,000 coins were minted, making it a relatively rare coin.
3. How can I tell if my 1859 O Coronet Head Gold $20 Double Eagle is authentic?
You can have your coin certified by reputable grading services like PCGS or NGC to verify its authenticity and grade.
4. What is the significance of the “O” mintmark on the coin?
The “O” mintmark indicates that the coin was minted at the New Orleans Mint.
5. Why is the 1859 O Coronet Head Gold $20 Double Eagle so valuable?
Its value comes from its rarity, historical importance, and the intricate design by James B. Longacre.