The 1870 $20 Double Eagle Gold Coin stands as a testament to America’s rich numismatic history. Minted during a period of economic expansion, this coin has become a coveted piece among collectors and historians alike.
Historical Significance of the 1870 $20 Double Eagle
The 1870 Double Eagle was introduced following the California Gold Rush, a time when the United States experienced a surge in gold production. This influx necessitated the creation of higher denomination coins, leading to the minting of the $20 gold piece.
The coin’s design, featuring Lady Liberty on the obverse and a heraldic eagle on the reverse, symbolizes the nation’s prosperity and strength during that era.
Mintage and Rarity
In 1870, the U.S. Mint produced the Double Eagle at three facilities: Philadelphia, San Francisco, and the newly established Carson City Mint.
The Carson City Mint, in particular, struck a mere 3,789 coins, making the 1870-CC Double Eagle one of the rarest in the series. Estimates suggest that only 40 to 50 of these coins remain today, with most in circulated condition.
Design and Specifications
The 1870 Double Eagle features the Liberty Head design, with Lady Liberty adorned with a coronet inscribed with “LIBERTY.” The reverse showcases a majestic eagle with a shield on its breast, clutching arrows and an olive branch.
The coin is composed of 90% gold and 10% copper, weighing approximately 33.44 grams and measuring 34 millimeters in diameter.
Recent Auction Highlights
The rarity and historical significance of the 1870 Double Eagle have led to impressive auction results. Notably, an 1870-CC Double Eagle was sold for $1.44 million at a Southern California auction in November 2024.
This particular coin, minted in Carson City, Nevada, is one of the few surviving specimens, underscoring its immense value to collectors.
| Mint Location | Mintage Quantity | Estimated Survivors | Recent Auction Price | Year of Auction |
|---|---|---|---|---|
| Philadelphia | 155,150 | Moderate | $2,987 | 2024 |
| San Francisco | 982,000 | High | $2,987 | 2024 |
| Carson City | 3,789 | 40-50 | $1.44 million | 2024 |
The 1870 $20 Double Eagle Gold Coin is more than just a piece of currency; it is a relic of America’s rich history and a symbol of the nation’s growth during the 19th century.
Its rarity, especially the Carson City minting, combined with its historical context, makes it a prized possession for collectors and a fascinating subject for historians.
FAQs
1. What makes the 1870-CC Double Eagle so rare?
The 1870-CC Double Eagle’s rarity stems from its low mintage of only 3,789 coins at the Carson City Mint. Additionally, many of these coins were melted down or lost over time, leaving only an estimated 40 to 50 in existence today.
2. How can I verify the authenticity of an 1870 Double Eagle?
Authenticating an 1870 Double Eagle involves examining its weight, dimensions, and design details. However, due to the prevalence of counterfeits, it’s advisable to consult with a reputable numismatic expert or have the coin certified by a recognized grading service.
3. What factors influence the value of the 1870 Double Eagle?
The coin’s value is influenced by its mint location, condition (grade), rarity, and historical significance. Coins from the Carson City Mint, especially in higher grades, command premium prices due to their scarcity.
4. Where can I purchase or sell an 1870 Double Eagle?
These coins can be bought or sold through reputable coin dealers, auction houses, and numismatic shows. It’s essential to conduct thorough research and consult with experts to ensure fair transactions.
