The Type III $20 Liberty Double Eagle Series 1877-1907
The largest-size gold coin struck in the United States mint for commercial use, the Double Eagle (or Twenty-Dollar gold piece) made its debut in 1850 at the height of the California Gold Rush. The first coins of this design display the Liberty motif attributed to then-Chief Engraver of the United States Mint James Barton Longacre. The obverse features a left facing bust of Liberty with the date below and 13 stars encircling the periphery. Liberty is wearing a coronet inscribed LIBERTY. On the reverse, a spread-wing eagle adorned with ornamentation serves as the focal feature. A glory of rays and 13 stars are above the eagle, the legend UNITED STATES OF AMERICA is present at the upper border and the denomination TWENTY D(OLLARS) is inscribed along the lower border. This basic Liberty design proved to be a particularly hardy one, lasting into the early 20th century before it was finally replaced by the Saint-Gaudens Double Eagle in 1907.
In 1877 the Mint unveiled what is now known as the Type III Liberty Double Eagle design. It differs from its Type I predecessor of 1850-1866 through the addition of the motto IN GOD WE TRUST on the reverse above the eagle, and from its Type II predecessor of 1866-1876 by having the denomination on the reverse expressed as TWENTY DOLLARS as opposed to TWENTY D. Produced in larger numbers than earlier issues in this series and saved in greater quantities, the Type III coins of 1877-1907 account for the majority of Liberty Double Eagles in the numismatic market. This type, therefore, is the preferred choice among collectors seeking a basic representation of the Liberty Double Eagle design for inclusion in a more expansive collection.
Even so, the Type III Liberty Double Eagle series presents considerable challenges for the collector. Many issues are rare-to-extremely rare in today’s market, examples of which are the lowmintage 1879-O, 1882, 1886 and 1891. Additionally, all issues in this series can be challenging to locate in the finer Mint State grades. In fact, a solidly graded and attractive MS-64 or MS-65 of even a common Type III Liberty Double Eagle such as the 1901 or 1904 represents a significant find in the numismatic market of the early 21st century. Such coins offer beauty, strong technical quality and an indelible link to the broad scope of American history that this long-running gold series helped to shape. From the California Gold Rush of the 1840s and 1850s, through the Civil War and the taming of the frontier, to the birth of the “American Century,” the Liberty Double Eagle series witnessed all of these events and helped finance the nation’s transformation into an economic and military powerhouse.
