The 1856 O Coronet Head Gold $20 Double Eagle is one of the most famous and sought-after coins in U.S. numismatics. Known for its historical significance, rarity, and beauty, this coin stands out as a symbol of American gold coinage. The coin, produced in 1856 by the New Orleans Mint, carries a lot of value for both collectors and investors. Let’s dive into why this coin is so special and what makes it a collector’s dream.
What is the 1856 O Coronet Head Gold $20 Double Eagle?
The 1856 O Coronet Head Gold $20 Double Eagle is a large gold coin that was minted by the United States Mint in New Orleans. The coin features the Coronet Head design, which was created by James B. Longacre. It shows a depiction of Liberty with a coronet (a type of crown) on her head. This design is one of the most iconic in U.S. coin history. The reverse side of the coin shows an eagle with outstretched wings, holding a shield and an olive branch, symbolizing strength and peace.
The “O” mintmark indicates that the coin was minted in New Orleans, which makes it especially valuable to collectors interested in coins from this mint.
History Behind the Coin
In 1856, the United States Mint in New Orleans was producing coins for circulation. The $20 Double Eagle was one of the most significant denominations at the time. It was meant to be used in large transactions, especially for trade and international exchange. The minting of these coins was part of the country’s move to solidify its gold standard, making gold coins a prominent part of the American economy.
The 1856 O Coronet Head Gold $20 Double Eagle is especially rare because only a limited number of these coins were produced. During this time, gold was being mined at a faster rate, but not every coin produced in New Orleans was struck in sufficient numbers. Many of these coins were melted down or destroyed, which is why the 1856 O Double Eagle is so rare today.
Features of the Coin
- Obverse: The obverse of the coin features a portrait of Liberty wearing a coronet, with the inscription “LIBERTY” above her head. The date “1856” appears below her chin, and the mintmark “O” is placed near the edge of the coin.
- Reverse: The reverse side shows an eagle with a shield, clutching arrows and an olive branch. The eagle is surrounded by the words “UNITED STATES OF AMERICA” and the denomination “$20”.
- Material: The coin is made from 90% gold and 10% copper, making it both durable and valuable.
- Weight: The 1856 O Double Eagle weighs approximately 33.44 grams, which is standard for gold double eagles.
Why is the 1856 O Coronet Head Gold $20 Double Eagle So Valuable?
The 1856 O Coronet Head Gold $20 Double Eagle is highly valuable for several reasons:
- Rarity: As one of the rarest coins in U.S. coinage, finding an authentic 1856 O Double Eagle is a rare occurrence. Many of the coins were either lost, melted down, or destroyed, making the remaining ones highly valuable.
- Historical Significance: This coin was minted during an important period in U.S. history. It was produced during the time of the California Gold Rush and is a symbol of the country’s growing economy and gold mining industry.
- Collector Demand: Coin collectors are always looking for rare and unique items to add to their collections. The 1856 O Double Eagle is considered a treasure for numismatists, and it is highly sought after.
- Condition: The condition of the coin also plays a huge role in its value. Coins that are in mint condition or near-mint condition can fetch extremely high prices at auctions.
Table: Estimated Values of 1856 O Coronet Head Gold $20 Double Eagles by Condition
| Coin Condition | Estimated Value |
|---|---|
| Uncirculated | $40,000 – $50,000 |
| Extremely Fine | $25,000 – $30,000 |
| Fine | $15,000 – $20,000 |
| Good | $10,000 – $12,000 |
Key Facts to Remember
- Minted in 1856 by the New Orleans Mint.
- Features the Coronet Head design by James B. Longacre.
- The coin has a gold content of 90% gold and 10% copper.
- The value depends on its condition, rarity, and historical significance.
Conclusion
The 1856 O Coronet Head Gold $20 Double Eagle is a rare and valuable coin that holds great historical significance. It is a piece of U.S. coinage history, and its rarity and condition make it a highly sought-after item for collectors and investors alike. If you ever come across one of these coins, it’s a treasure worth cherishing.
Aztecpool Service
FAQs
1. Why is the 1856 O Coronet Head Gold $20 Double Eagle so rare?
The coin is rare due to its limited mintage and the fact that many coins were melted down or destroyed over time. Only a few original examples remain.
2. How much is the 1856 O Coronet Head Gold Double Eagle worth?
The value can range from $10,000 to $50,000 depending on the coin’s condition. Uncirculated examples are worth the most.
3. What does the “O” mintmark on the coin mean?
The “O” mintmark indicates that the coin was struck at the New Orleans Mint.
4. What is the significance of the Coronet Head design?
The Coronet Head design symbolizes Liberty and was one of the most popular designs on U.S. coins during the 19th century.
5. Can I find an 1856 O Double Eagle in circulation today?
It is extremely unlikely to find an 1856 O Double Eagle in circulation, as most were either melted down or are in private collections.