The 1861 O Coronet Head Gold $20 Double Eagle is an exciting coin in American history. It is not just a piece of money; it’s a symbol of a time when the United States was growing and changing. This coin has a special story behind it, and many collectors and historians love it. In this article, we will explore what makes this coin unique, its history, its value, and why it’s so important to collectors.
What is the 1861 O Coronet Head Gold $20 Double Eagle?
The 1861 O Coronet Head Gold $20 Double Eagle is a gold coin that was minted in New Orleans, Louisiana. The term “Double Eagle” refers to its denomination, which is $20. The coin features the Coronet Head design, which shows a young lady wearing a crown. This design was created by famous engraver James B. Longacre and was used on American gold coins for many years.
Historical Background
Minting in New Orleans
The New Orleans Mint began operating in 1838 and played an important role in producing coins for the southern states. During the 1860s, the mint faced many challenges, including the Civil War, which affected coin production.
The Year 1861
In 1861, the United States was divided, and the Civil War was underway. Despite this turmoil, the New Orleans Mint continued to produce coins. However, due to the war, only a limited number of coins were minted. The 1861 O Coronet Head Gold Double Eagle is rare because not many were made that year.
Design Features
Obverse Design
The front side (obverse) of the 1861 O Coronet Head Gold Double Eagle features the Coronet Head. The young woman, representing Liberty, has a crown of stars around her head. The words “LIBERTY” and the year “1861” are also inscribed.
Reverse Design
The back side (reverse) shows a majestic eagle with its wings spread wide. The eagle holds a shield and is surrounded by a circle of stars. The words “UNITED STATES OF AMERICA” and “TWENTY DOLLARS” are also written on this side.
| Feature | Description |
|---|---|
| Year | 1861 |
| Mint Mark | O (New Orleans) |
| Diameter | 34 mm |
| Weight | 33.44 grams (1.07 oz) |
| Metal Content | 90% gold, 10% copper |
| Design Engraver | James B. Longacre |
Rarity and Value
Rarity
The 1861 O Coronet Head Gold Double Eagle is considered rare because only about 3,200 coins were minted. Many of these coins were melted down or lost, making surviving examples highly sought after.
Current Value
The value of the 1861 O Double Eagle varies based on its condition. Coins in good condition can sell for around $15,000, while those in excellent condition can fetch much higher prices, sometimes exceeding $20,000 or more. The coin’s historical significance and rarity contribute greatly to its value.
Collecting the 1861 O Coronet Head Gold Double Eagle
Why Collectors Love It
Collectors appreciate the 1861 O Double Eagle for several reasons:
- Historical Significance: It represents a turbulent time in American history.
- Rarity: With fewer coins available, it’s a valuable addition to any collection.
- Beauty: The design is visually appealing and showcases fine craftsmanship.
How to Start Collecting
If you’re interested in collecting coins like the 1861 O Double Eagle, here are some tips:
- Educate Yourself: Learn about coin grading and how to identify genuine coins.
- Join a Club: Connect with other collectors through clubs or online forums.
- Start Small: Begin your collection with less expensive coins before moving on to rare pieces.
Conclusion
The 1861 O Coronet Head Gold $20 Double Eagle is more than just a coin; it is a piece of history that reflects the challenges and triumphs of the United States during the Civil War era. Its unique design, limited mintage, and significant value make it a treasured item among collectors. Whether you’re a seasoned numismatist or just starting out, understanding the importance of this coin can deepen your appreciation for American history and coin collecting.
FAQs
What is a Double Eagle?
A Double Eagle is a gold coin worth $20. It features intricate designs and is made mostly of gold.
Why is the 1861 O Coronet Head Gold Double Eagle rare?
Only a small number of these coins were minted, and many were lost or melted down, making them hard to find.
What is the value of an 1861 O Double Eagle today?
Depending on its condition, it can be worth between $15,000 to over $20,000.
Who designed the Coronet Head?
The Coronet Head design was created by engraver James B. Longacre.
How can I start collecting coins?
Educate yourself about coins, join collector clubs, and start with less expensive items before investing in rarer coins.