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57-534: A double eagle is a gold coin of the United States with a denomination of $ 20. (Its gold content of 0.9675 troy ounces [30.09  g ] was worth $ 20 at the 1849 official price of $ 20.67/ozt.) The coins are 34 mm × 2 mm and are made from a 90% gold (0.900 fine or 21.6 kt) and 10% copper alloy and have a total weight of 1.0750 troy ounces (1.1794 oz; 33.44 g). The eagle , half eagle , and quarter eagle were defined by name in

114-443: A crown gold alloy with 22 karats = .917 fineness) may have the correct weight and dimensions because of the lesser density of the alloy. Such forgeries can be detected testing the acoustic, electric resistance or magnetic properties. The latter method uses the fact that gold is weakly diamagnetic and tungsten is weakly paramagnetic . The effect is weak so that testing requires strong neodymium magnets and sensitive conditions (e.g.

171-598: A corn field in Kentucky, dubbed the Great Kentucky Hoard . Finder and location remain anonymous. Gold coin A gold coin is a coin that is made mostly or entirely of gold . Most gold coins minted since 1800 are 90–92% gold (22‑ karat ), while most of today's gold bullion coins are pure gold, such as the Britannia , Canadian Maple Leaf , and American Buffalo . Alloyed gold coins, like

228-412: A deal with one of these coins. There is no other date of Saint-Gaudens double eagle that is worth a significant fraction of this extraordinary coin. A complete uncirculated set of all other Saint-Gaudens double eagles could be put together for just over three million dollars (less than half the price paid for the 1933), including the extremely rare, ultra-high relief, proof pattern. Without the rare pattern,

285-495: A face value of $ 1,000,000, though the gold content was worth over $ 2 million at the time. It measures 50 centimetres (20 in) in diameter and is 3 centimetres (1.2 in) thick. It was intended as a one-off to promote a new line of Canadian Gold Maple Leaf coins, but after several interested buyers came forward the mint announced it would manufacture them as ordered and sell them for between $ 2.5 million and $ 3 million. As of May 3, 2007, there were five orders. One of these coins

342-500: A face value of one million dollars, it contains one tonne of 9999 pure gold and is approximately 80 cm in diameter by 12 cm thick. The European Commission publishes annually a list of gold coins which must be treated as investment gold coins in all EU Member States. The list has legal force and supplements the law. In the United Kingdom, HM Revenue and Customs have added an additional list of gold coins alongside

399-400: A gold coin hanging from 2 m long pendulum or placed on Styrofoam floating on water), but such tests can be performed without special equipment. Biting a coin to determine whether it is genuine or counterfeit is a widespread cliché depicted in many films (like the 1917 The Immigrant ), books (like the 1925 L'Or by Blaise Cendrars ) and plays (like the 1938 Mother Courage which is set in

456-488: A more wear-resistant coin. In addition, sales of these and other specie coins from the US Mint are mandated, at least in part, to pay off the national debt. The 22 kt gold alloy is an English standard traditionally referred to as " crown gold ". Crown gold alloys had not been used in U.S. coins since 1834, with the gold content having dropped since 1837 to a standard of 0.900 fine for U.S. gold coins. For American Gold Eagles

513-403: A public auction for an 1804 silver dollar. This piece is unique as the only 1933 double eagle the U.S. government has deemed legal for its citizens to own (having been negotiated as such through terms of a U.S. treaty with a foreign government). Even illegal instances of the 1933 double eagle could be worth hundreds of thousands of dollars, but it would be illegal for a U.S. coin dealer to broker

570-760: Is among the most valuable of U.S. coins, with the sole example currently known to be in private hands–the King Farouk specimen, which was purchased by King Farouk of Egypt in 1944–selling in 2002 for $ 7,590,020 and resold to an unknown buyer in 2021 for $ 18.8 million. Twelve other specimens exist, two of which are held in the National Numismatic Collection and the United States Bullion Depository at Fort Knox . In July 2023, over 700 gold coins dated from 1840 to 1863, including Double Eagles, were unearthed at

627-458: Is because the cost of reproducing a coin precisely can exceed the market value of the originals. However, since about 2015 counterfeit coins have been "flooding the market at an astonishing rate" and "it's gotten to the point where even people who deal with coins all the time may not be able to recognize a counterfeit coin right away" ( American Numismatic Association (ANA), 2016). The coins consist mostly of tungsten plated thinly with gold, have

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684-618: Is softer, biting coins can only detect the crudest of forgeries. And all "gold" coins minted for circulation in the UK and America since the Tudor period (1485–1603) contained copper which made them more durable and thus hard to bite. "This cliché might find its origin in the crude testing method used by American prospectors during the 19th century gold rush. They bit the gold nuggets they found to be sure that they were not fool's gold" Olympic champions often pose biting their gold medals, even though

741-593: The Act of Congress originally authorizing them. Likewise, the double eagle was created by the Coinage Act of 1849 . Since the $ 20 gold piece had twice the value of the eagle, these coins were designated "double eagles". Before, the most valuable American coin was the $ 10 gold eagle, first produced in 1795, two years after the United States Mint opened. The production of the first double eagle coincided with

798-558: The American Gold Eagle and South African Krugerrand , are typically 91.7% gold by weight, with the remainder being silver and copper. Until about the 1930s, gold coins were circulation coins , including coin-like bracteates and dinars . Since then, gold coins have mainly been produced as bullion coins for investors and as commemorative coins for collectors . While modern gold coins are still legal tender , they are not used in everyday financial transactions , as

855-511: The St. Gaudens Double Eagle counterfeit, known as an Omega counterfeit , is famous for its quality. Another example is the US $ 20 gold coin ( double eagle ), which has raised lettering around its rim. If the coin is uncirculated, the letters will be flat on top. If slightly rounded, and the coin is uncirculated, it is a counterfeit. There are other counterfeit double eagles in which the gold and copper alloy

912-506: The Thirty Years' War 1618–1648). According to a 2017 study, the assumed widespread practice of pirates biting into a coin is almost certainly a Hollywood myth. The rationale for biting a coin was the supposed widespread dissemination of gold-plated lead coins in the 19th century. Since lead is much softer than gold, biting the coins is a sensible test for counterfeiting. While fine gold is softer than alloyed gold, and galvanized lead

969-518: The platinum group ). During the 19th century, platinum was cheaper than gold and was used for counterfeiting gold coins. These coins could be detected by acoustic properties. Only two relatively inexpensive substances are of similar density to gold: depleted uranium and tungsten . Depleted uranium is government-regulated, but tungsten is more commonly available. Bullion coin counterfeits were formerly rare and fairly easy to detect when comparing their weights, colors and sizes to authentic pieces. This

1026-483: The $ 10,000 price in circulated grades, but can reach nearly a half million dollars in the best states of preservation. There were several changes in the early years of this design. The first coins issued in 1907 design featured a date in Roman numerals, but this was changed later that year to the more convenient Arabic numerals. The motto "In God We Trust" was omitted from the initial design, as Roosevelt felt that putting

1083-543: The 1849 California Gold Rush . In that year, the mint produced two pieces in proof . In 1904, President Theodore Roosevelt sought to beautify American coinage, and proposed Augustus Saint-Gaudens as an artist capable of the task. Although the sculptor had poor experiences with the Mint and its chief engraver, Charles E. Barber , Saint-Gaudens accepted Roosevelt's call. The work was subject to considerable delays, due to Saint-Gaudens's declining health and difficulties because of

1140-471: The 24k Gold Buffalo Coin , which is minted entirely from .9999 fine gold, and therefore weighs less (1 troy oz or 31.1035 grams gross). The market value of the coins is generally about equal to the market value of their gold content, not their face value. Like all commodities, this value fluctuates with market forces. The face values are proportional to the weights except for the 1/4 oz coin. While their actual selling price (purchasing power) varies based on

1197-571: The European Commission list. These are gold coins that HM Revenue & Customs recognize as falling within the exemption for investment gold coins. This second list does not have legal force. Gold is denser than almost all other metals, hence hard to fake. A coin that is not gold or below the expected fineness will either be too light for its size or too large for its weight. Most metals of similar or higher density to gold are as expensive or more and were unknown in ancient times (notably

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1254-514: The Langbords because U.S. officials had not responded within a 90-day limit to the family's seized-property claim. On August 1, 2016, the full appeals court reversed its earlier ruling and allowed the government to keep the coins. In response to international monetary conferences held in Europe, the United States Mint struck patterns of various gold coins for use as an international currency in

1311-502: The U.S. Mint switched to Arabic numerals for dating Gold Eagles. The 1 ⁄ 10 , 1 ⁄ 4 , and 1 ⁄ 2 troy oz coins are identical in design to the 1 troy oz coin except for the markings on the reverse side that indicate the weight and face value of the coin (for example, 1 OZ. fine gold~50 dollars ). The print on the smaller coins is, therefore, finer and less legible than on larger denominations. The 22k gold alloyed makeup of Gold Eagle coins stands in contrast to

1368-683: The United States Mint also produces proof and uncirculated versions for coin collectors . These coins carry the Mint's mark ("W") beneath the date, and are produced exclusively at the West Point Mint in West Point, New York (formerly the West Point Bullion Depository). These final audited mintages from the U.S. Mint include coins sold both individually and as part of multi-coin sets. During

1425-520: The allocation of blanks for the legally required production of bullion Gold Eagles affected both uncirculated coin and proof availability. This suspension continued into 2010 for the uncirculated version. When production resumed in 2011 (without the fractional denominations which had been discontinued in 2008), it was met with a weak collector response. The United States Mint provided audited and finalized annual production sales reports between 2006–2012. Afterwards, they published production sales numbers in

1482-404: The coinage of gold and made it illegal to own the metal (although coin collectors could retain their pieces). With one exception, no 1933 double eagles were ever legally released, although some were stolen from the government, and over the years several were recovered. In the summer of 2002, a 1933 double eagle was auctioned off for US$ 7,590,020 which shattered the old record of $ 4,140,000 paid at

1539-492: The coins for display. Meanwhile, Langbord filed a federal suit to recover the coins after her hopes of receiving monetary compensation from the federal government were not realized. In September 2009, a federal judge ruled that the government had until the end of the month to return the confiscated coins to the Langbord family, or to prove that they had indeed been stolen. On July 20, 2011, a civil-court jury awarded ownership of

1596-516: The correct weight, correct or near-correct dimensions, and are professionally produced in China. The weight and dimensions of a coin of .999 fineness such as the Maple Leaf cannot be replicated precisely by a gold plated tungsten core, since tungsten has only 99.74% of the specific gravity of gold. However, forgeries of alloyed gold coins (such as American Gold Eagle or Krugerrand made from

1653-462: The date on American coinage. The 2009 ultra-high relief American Eagle also used Roman numerals. On January 22, 2009, the U.S. Mint released ultra-high relief double eagles using the deep design that Saint-Gaudens envisioned, so that the U.S. Mint could, as its web site states "fulfill Augustus Saint-Gaudens' vision of an ultra high relief coin that could not be realized in 1907 with his legendary Double Eagle liberty design." Despite that claim, however,

1710-634: The family of eagles is “ a symbolic tribute to the American family, senior citizens and young people . Frost’s design drawing was sculpted for the reverse of the Gold Eagle by US Mint sculptor - engraver Sherl Joseph Winter (JW). Hence, on the reverse of these coins, the initials MB and JW are inscribed. In 2021, the US Mint introduced a new reverse design on the American Gold Eagle featuring a close-up head portrait of an eagle. This design

1767-570: The first copper coin struck. The production of the first double eagle coincided with the 1849 California Gold Rush . In that year, the mint produced two pieces in proof . The first now resides in the Smithsonian Institution in Washington, D.C. The second was presented to Treasury Secretary William M. Meredith and was later sold as part of his estate—the present location of this coin remains unknown. The 1933 double eagle

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1824-529: The gold fraction was increased again to .9167 or (22 karat ). It is authorized by the United States Congress and is backed by the United States Mint for weight and content. The obverse design features a rendition of Augustus Saint-Gaudens ' full-length figure of Lady Liberty with flowing hair, holding a torch in her right hand and an olive branch in her left, with the Capitol building in

1881-571: The high relief of his design. Saint-Gaudens died in 1907, after designing the eagle and double eagle, but before the designs were finalized for production. The new coin became known as the Saint-Gaudens double eagle . Regular production continued until 1933, when the official price of gold was changed to $ 35/ozt by the Gold Reserve Act . Regular issue double eagles come in two major types and six minor varieties as follows: Due to

1938-458: The late 1870s and early 1880s. The double eagle was one such coin, struck with a modified Liberty Head design featuring "★30★G★1.5★S★3.5★C★35★G★R★A★M★S★" on the obverse in 1879, similar to the Stella pattern. Five of the resulting "Quintuple Stella" coins are known to exist in gold, plus about a dozen in copper, some of which have been plated in gold. The period in the "3.5" was omitted in error on

1995-402: The left background. The design is taken from the $ 20 Saint-Gaudens gold coin which was commissioned by Theodore Roosevelt to create coins like the ancient Greek and Roman coins. From 1986 to 2021, the reverse design by sculptor Miley Busiek Frost (MB) featured a male eagle carrying an olive branch flying above a nest containing a female eagle and her eaglet. Frost says that her eagle design of

2052-490: The less desirable artwork and therefore lower demand, Liberty Head (Coronet) $ 20 gold pieces are less often encountered, and the common subtype commands less than the Saint-Gaudens type. In 1866, the motto " In God We Trust " was added to the double eagle, creating a second subtype. In 1877, the coin's denomination design on the reverse was changed from "TWENTY D." to "TWENTY DOLLARS" creating a third and final subtype for

2109-553: The main metal for their coins . The most valuable of all Persian minted coinage still remains the gold drams , minted in 1 AD as a gift by the Persian King Vonones (Matthew 2.1–23). Gold coins were rising in popularity during the Middle Ages in Europe. These coins were made of nearly pure gold and usage was low compared to coins made of bronze and silver which were more plentiful. Coins were often melted down if

2166-478: The medals are no longer made of solid gold. Only at three Olympics (in 1904, 1908 and 1912) were medals made of solid gold but were also smaller. David Wallechinsky commented in 2012 that "It's become an obsession with the photographers. I think they look at it as an iconic shot, as something that you can probably sell. I don't think it's something the athletes would probably do on their own." There are well made counterfeit gold coins in circulation. For example,

2223-414: The metal value invariably exceeds the nominal value . For example, the quarter-ounce American Gold Eagle has a denomination of $ 10, but a metal value of approximately $ 500 (as of January 2024 ). The gold reserves of central banks are dominated by gold bars , but gold coins may occasionally contribute. Gold has been used as money for many reasons. It is fungible , with a low spread between

2280-499: The mint actually reaffirmed just what doomed the first attempts in 1907. The coin's highly abradable 0.9999 fine gold composition and the multiple strikes required to bring up the design are not practical for business strikes. Because of their higher gold content, and greater striking pressure, the coins are 27 mm wide and 4 mm deep (the same diameter as a gold eagle), rather than the 34 mm × 2 mm that had been established for U.S. $ 20 gold coins. The initial selling price

2337-405: The name of God on money that could be used for immoral purposes was inappropriate. By act of Congress, the motto was added in mid-1908. The design of the Saint-Gaudens coin was slightly changed once more when New Mexico and Arizona became states in 1912, and the number of stars along the rim was accordingly increased from 46 to 48. Double eagles were routinely minted through 1933, although few of

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2394-512: The nation's coinage at the beginning of the 20th century. Saint-Gaudens' work on the high-relief $ 20 gold piece is considered to be one of the most extraordinary pieces of art on any American coin. The mint eventually insisted on a low-relief version, as the high-relief coin took up to eleven strikes to bring up the details which was harder for the older die presses. This high-relief also caused irregular stacking for banking purposes. Only 12,367 of these coins were struck in 1907. These coins easily top

2451-468: The price of precious metal . For example, on September 13, 2019, the U.S. Mint sold the 2016 one-ounce coin ($ 50 face value) at $ 1,510.00. Since the coins can be "paid" only at a disadvantage to the payer, they are generally held as collectibles rather than money, and for US taxpayers are subject to a high capital gains tax rate unless held in an individual retirement account . In addition to standard bullion coins (sometimes referred to as "scruffies"),

2508-476: The prices to buy and sell. Gold is easily transportable, as it has a high value-to-weight ratio compared to commodities such as silver. Gold can be re-coined, divided into smaller units, or melted into larger units such as gold bars, without destroying its metal value. The density of gold is higher than most other metals, making it difficult to pass counterfeits . Additionally, gold is extremely unreactive chemically: it does not tarnish or corrode over time. Gold

2565-420: The raw material was more valuable than the coin. To prevent this, coins were given more complex designs in order to raise the coin's value and prevent clipping. Gold coins then had a very long period as a primary form of money, only falling into disuse in the early 20th century. Most of the world stopped making gold coins as currency by 1933, as countries switched from the gold standard due to hoarding during

2622-415: The series' inaugural year, the Mint only issued 1 troy oz proofs. It added 1 ⁄ 2   troy oz proofs in 1987 and since 1988 has issued proofs in all four denominations. In 2009, due to increased worldwide demand for precious metals that caused supply shortages and the Mint's legal obligations to produce bullion versions, proof and uncirculated versions of the Gold Eagle were not issued. In 2009,

2679-668: The series. An 1879 pattern coin was made for the quintuple Stella using a design combining features of the Liberty Head double eagle and Stella pattern coin and using the same alloy as the Stella (90 parts gold, three parts silver, and seven parts copper); this coin was stolen in July 2008. The Saint-Gaudens double eagle is named for the designer, Augustus Saint-Gaudens , one of the premier sculptors in American history. Theodore Roosevelt imposed upon him in his last few years to redesign

2736-428: The set would be less than $ 750,000. In August 2005, the United States Mint recovered ten 1933 double eagle coins from a private collector who had contacted the United States Mint to ascertain their authenticity. Joan S. Langbord claimed that she inherited the coins from her father, a suspect in their original theft in 1933, and had found them in a safe deposit box in 2003. The Mint announced that it would consider saving

2793-406: The spot price of gold, these coins carry face values of $ 5, $ 10, $ 25, and $ 50. These are their legal values, reflecting their issue and monetized value as "Gold Dollars", as opposed to standard bullion. They are legal tender for all debts public and private at their face values. These face values do not reflect their intrinsic value which is much greater and is mainly dictated by their weight and

2850-599: The ten coins to the U.S. government on grounds that the coins were stolen from the mint. However, on April 17, 2015, the United States Court of Appeals for the Third Circuit in Philadelphia overturned the jury's decision and ruled that the ten 1933 double eagles did indeed belong to Joan S. Langbord and that they must be returned to her family by the U.S. Mint. The appeals court returned the coins to

2907-492: The very last years' coinages were released before the gold recall legislation of that year. Accordingly, these issues (when the U.S. Treasury permits individuals to own them) bring very high prices. The Saint-Gaudens obverse design was reused in the American eagle gold bullion coins that were instituted in 1986. The early 1907 double eagles and the 1986–1991 gold American eagles are the only instances of Roman numerals denoting

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2964-608: The worldwide economic crisis of the Great Depression . In the United States, 1933's Executive Order 6102 forbade most private ownership of gold and was followed by a devaluation of the dollar relative to gold, although the United States did not completely uncouple the dollar from the value of gold until 1971. In 2007, the Royal Canadian Mint produced a 100-kilogram (220 lb) gold coin with

3021-547: Was $ 1239. With the rising price of gold by June it had climbed to $ 1339, and by December to $ 1489. There was no limit on the coinage of these one time uncirculated issues, which bear the date "MMIX". In September, the one coin per person ordering restriction was removed. The final mintage was 115,178. These coins were minted at the West Point Mint, but none of them bear the "W" mint mark, making them particularly unusual. In 1933, President Franklin D. Roosevelt stopped

3078-550: Was created by US Mint artistic designer Jennie Norris (JN) and sculpted by US Mint medallic artist Renata Gordon (RG). Hence, Gold Eagles from 2021 onwards, show the initials JN and RG on each side of the eagle head design. Norris explains her design inspiration as follows: “ The American Eagle is such a noble bird. I was hoping to capture the intensity of his stare through the close cropping. His gaze speaks of pride and wisdom passed down through generations of time. ” Gold Eagles minted 1986–1991 are dated with Roman numerals . In 1992,

3135-409: Was not thoroughly mixed. These counterfeits will have a slightly mottled appearance. American Gold Eagle Offered in 1/10 oz , 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces . By law, the gold must come from sources in the United States, alloyed with silver and copper to produce

3192-667: Was stolen when it was on exhibition at the Bode Museum in Berlin. In 2012 the Royal Canadian Mint produced the first gold coin with a 0.11–0.14 ct diamond. The Queen's Diamond Jubilee coin was crafted in 99.999% pure gold with a face value of $ 300. The largest legal-tender gold coin ever produced was unveiled in 2012 by the Perth Mint in Western Australia. Known as the "1 Tonne Gold Kangaroo Coin " and with

3249-714: Was used in commerce (beside other precious metals) in the Ancient Near East since the Bronze Age , but coins proper originated much later, during the 6th century BC, in Anatolia . The name of king Croesus of Lydia remains associated with the invention (although the Parian Chronicle mentions Pheidon of Argos as a contender). In 546 BC, Croesus was captured by the Persians , who adopted gold as

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