1891 $20 Liberty Head Double Eagle PCGS AU53 - About 100 Known

1891 $20 Liberty Head Double Eagle PCGS AU53--$39,750.00 "About 100 Known"

      It is not often that a coin such as this is offered for consideration. All 1891 $20 double eagles are rare, but in the better grade of AU53 it is quite desirable. Extraordinarily rare in both mint state and proof, only 1,390 mint state and 52 proof pieces were struck. The lack of available specimens has put pressure on the price of all of those in the marketplace. This piece would be perfect for a type set of important U.S. gold coins. It would also be a "must-have" piece for a full set of $20 Liberty double eagles.

      The creation of the double eagle design and coin saw conflict reach a fever pitch within the U.S. mint--between chief coiner Franklin Peale and mint director Robert Patterson on one side, and chief engraver James B. Longacre on the other. Patterson despised the senator who influenced Longacre's appointment, while Peale was running an illicit private business making medals for private clients--on the mint's dime with their equipment--with the mint director's unspoken approval. Peale had possession of the Contamin portrait lathe, which was needed to reduce models of designs of medals and coins to reductions from which working dies could be made. Peale did not want to share the lathe, which was a problem when the new double eagle was being created. Obstacle after obstacle was thrown in Longacre's path as he worked on the coin. Harassment was a constant companion for the skilled engraver, from both Patterson and Peale. It was the result of corruption by and friendship between the two mint officers. No help with engraving work, broken galvanos, broken dies, rejected dies--on more than one occasion--and a false claim of being relieved from his position--were what Longacre had to face daily. Finally he went to the Treasury Secretary in Washington, who discovered all the lies told about Longacre and his work from the Mint officials; that meeting saved his job as chief engraver.