April 2009

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In this issue, we continue with Part II of our three-part series exploring the devices and symbols on some of the most important and rare United States gold coins of the last century and a half. In Part II, we explore Type II & Type III $20 Liberty Double Eagles, as well as two of the rarest gold commemoratives ever minted: the 1915-S Panama-Pacific Exposition & the 1926 Sesquicentennial of American Independence Quarter Eagles. Beginning in 1866 with the Type II version, the $20 Liberty Double Eagles became the first U.S. $20 gold coin to bear the motto "IN GOD WE TRUST". As for the Panama-Pacific Exposition and the Sesquicentennial of American Independence gold coins, they are the only two gold commemorative Quarter Eagles ever minted. As a group, these four coins are among the most historic and artistic coins ever minted in U.S. history, which makes them more than worthy as subjects for numismatic study.

Type II $20 Liberty Double Eagle

Minted From: 1866-1876
Minted At: Philadelphia, Carson City and San Francisco
Designer: James B. Longacre
Total Weight: 33.436 grams
Diameter: 34 mm
Composition: .900 gold & .100 copper
Net Weight: .96750 ounces pure gold
Edge: Reeded to prevent gold shaving by unscrupulous holders

1) U.S. Mint Chief Engraver, James B. Longacre’s design employed thirteen stars as an obverse device to acknowledge the original thirteen colonies.
2) On Liberty Double Eagles, Miss Liberty wears a coronet (small crown), featuring the word “LIBERTY” in raised-relief, which gave rise to the coins sometimes being called “Coronet” gold pieces.
3) Longacre designed a rendition of Lady Liberty that adorns the obverse as the main device on the entire Liberty Double Eagle series.
4) In the Liberty Double Eagle design, the mint date for a particular coin is located at the bottom center of the obverse.
5) The “beading” that adorns the inner rim of the obverse and reverse was a decorative feature popularly used on many 19th century coins in America and around the world. It's use fell out of favor in the 20th century.
6) The national designation of “UNITED STATES OF AMERICA” appears in raised-relief around the upper rim and sides of the reverse design.
7) Beginning in 1866, for the first time ever in U.S. $20 gold coin designs, the motto “IN GOD WE TRUST,” which is located near the top center of the reverse, is used.
8) The main "reverse" device of Liberty Double Eagles is an eagle with a heraldic shield. In his left talon, he holds a fasces of bundled arrows symbolizing America's military preparedness, while in his right he holds an olive branch symbolizing the U.S. desire for peace.
9) The motto “E PLURIBUS UNUM,” which is Latin for “out of many, one,” denotes the joining of many states into a single union, and appears in the decorative scrolls on both sides of the eagle.
10)On Liberty Double Eagle designs, the mint mark denoting which U.S. Mint branch produced the coin is located at the bottom center of the reverse just below the eagle.
11) From 1866-1876, the legal tender denomination of “TWENTY D” appears in raisedrelief along the bottom rim of the reverse.

FACT:
On April 2, 1792, a bill passed the U.S. Congress, which established that the unit for the $10 legal tender coin denomination be described as an “eagle”. The “double eagle” denomination is $20 and contains double the gold content of an “eagle”.

While the eagle appears on the reverse of most U.S. gold coins, the lion’s share of obverse designs feature a variety of portraits of female figures personifying the concept of “liberty,” which many view as the cornerstone of American democracy.

Type II $20 Liberty Double Eagle

Minted From: 1877-1907
Minted At: Philadelphia, Carson City, Denver, New Orleans & San Francisco
Designer: James B. Longacre
Total Weight: 33.436 grams
Diameter: 34 mm
Composition: .900 gold & .100 copper
Net Weight: .96750 ounces pure gold
Edge: Reeded to prevent gold shaving by unscrupulous holders

1) U.S. Mint Chief Engraver, James B. Longacre’s design employed thirteen stars as an obverse device to acknowledge the original thirteen colonies.
2) On Liberty Double Eagles, Miss Liberty wears a coronet (small crown), featuring the word “LIBERTY” in raised-relief, which gave rise to the coins sometimes being called “Coronet” gold pieces.
3) Longacre designed a rendition of Lady Liberty that adorns the obverse as the main device on the entire Liberty Double Eagle series. 4) In the Liberty Double Eagle design, the mint date for a particular coin is located at the bottom center of the obverse.
5) The “beading” that adorns the inner rim of the obverse and reverse was a decorative feature popularly used on many 19th century coins in America and around the world. It's use fell out of favor in the 20th century.
6) The national designation of “UNITED STATES OF AMERICA” appears in raised-relief around the upper rim and sides of the reverse design.
7) Beginning in 1866, for the first time ever in U.S. $20 gold coin designs, the motto “IN GOD WE TRUST,” which is located near the top center of the reverse, is used.
8) The main "reverse" device of Liberty Double Eagles is an eagle with a heraldic shield. In his left talon, he holds a fasces of bundled arrows symbolizing America's military preparedness, while in his right he holds an olive branch symbolizing the U.S. desire for peace.
9) The motto “E PLURIBUS UNUM,” which is Latin for “out of many, one,” denotes the joining of many states into a single union, and appears in the decorative scrolls on both sides of the eagle.
10)On Liberty Double Eagle designs, the mint mark denoting which U.S. Mint branch produced the coin is located at the bottom center of the reverse just below the eagle.
11) From 1877-1907, the legal tender denomination of “TWENTY DOLLARS” appears in raised-relief along the bottom rim of the reverse.

FACT:
On April 2, 1792, a bill passed the U.S. Congress, which established that the unit for the $10 legal tender coin denomination be described as an “eagle”. The “double eagle” denomination is $20 and contains double the gold content of an “eagle”.

At times, portraits of Miss Liberty have been based on actual women who served as models. However, they are meant to be allegorical in representing the concept of “liberty,” rather than a particular individual.

1915-S Panama-Pacific Exposition Quarter Eagle

Minted In: 1915
Minted At: San Francisco
Designers: Charles E. Barber & George T. Morgan
Total Weight: 4.18 grams
Diameter: 18 mm
Composition: .900 gold & .100 copper
Net Weight: .12094 ounces pure gold
Edge: Reeded

1) The commemorative designation of “Panama-Pacific Exposition” appears in raised-relief around the upper rim and sides of the obverse design.
2) The main obverse device is an image of the sea-goddess Columbia seated on a hippocampus and holding a caduceus in her left hand.
3) The caduceus, which is widely recognized as the symbol of the medical profession, symbolizes the role doctors played in the malaria outbreaks during the Panama Canal’s construction and memorializes the many lives lost on the project.
4) The hippocampus, which is a mythical sea horse creature featuring the fore legs of a horse and a body that ends in a dolphin or fish, symbolizes the potential seafaring uses of the Panama Canal.
5) The “S” mint mark designation denoting the coin’s production at the San Francisco Mint is located near the bottom of the coin’s obverse to the right of the mint date.
6) The sole mint date of 1915 appears at the bottom center of the obverse.
7) The national designation of “UNITED STATES OF AMERICA” appears in raisedrelief around the upper rim and sides of the reverse design.
8) The main reverse device depicts an eagle with raised wings poised to take flight.
9) The eagle stands atop a mantle upon which is inscribed the motto “E PLURIBUS UNUM,” which means “out of many, one”.
10) At the bottom rim of the reverse appears the legal tender denomination of “2 1/2 DOL”.

FACT:
The 1915-S Panama-Pacific Exposition was the first gold commemorative Quarter Eagle ever minted. The original mintage released by the U.S. Mint was a scant total of only 6,749 coins.

1926 Sesquicentennial of American Independence Quarter Eagle

Minted In: 1926
Minted At: Philadelphia
Designers: John R. Sinnock
Total Weight: 4.18 grams
Diameter: 18 mm
Composition: .900 gold & .100 copper
Net Weight: .12094 ounces pure gold
Edge: Reeded

1) The commemorative designation of “UNITED STATES OF AMERICA” is in raisedrelief around the upper rim and sides of the obverse design.
2) The main obverse device features Mint Engraver John Sinnock’s rendition of a standing female figure symbolizing Liberty.
3) In Liberty’s right hand, she holds the Torch of Freedom.
4) In Liberty’s left hand is a scroll symbolizing the Declaration of Independence.
5) Near the far right of the coin’s obverse is the mint year date of “1926,” which is the sesquicentennial date of America’s independence from England.
6) In the lower left of the obverse, the date “1776” is in raised-relief denoting the year America declared its independence from England.
7) Along the bottom rim of the coin’s obverse, the word “LIBERTY” appears in raised-relief.
8) Along the sides and upper rim of the reverse, “SESQUICENTENNIAL OF AMERICAN INDEPENDENCE” appears in raised-relief, which commemorates the 150th anniversary of the Declaration of Independence.
9) Near the top center of the coin, the motto “IN GOD WE TRUST” appears, where the bell tower of Independence Hall splits the motto into two parts.
10) The main reverse device depicts Independence Hall in Philadelphia where the Declaration of Independence was signed.
11) Just below the base of Independence Hall appears the motto “E PLURIBUS UNUM,” which means “out of many, one”.
12) At the bottom rim of the reverse appears the legal tender denomination of “2 1/2 DOLLARS”.

FACT:
It is one of only two Gold Commemorative Quarter Eagles ever minted. The original mintage was only 46,019 total coins. Well preserved specimens comprise the minority portion of the original mintage.