1897 $20 Liberty Head Double Eagle PCGS MS62

Here’s an attractive, more affordable example of the popular Liberty Head double eagle in its assigned grade of MS62. Perhaps it could serve as a U.S. gold type coin in your collection. Please look at the images provided by AUCM of this attractive, original specimen. PCGS has graded 8,597 in MS62 with 3,592 finer. Collectors Universe gives this issue a price of $2,650.00 in MS62.

Chief Coiner Franklin Peale, who made life quite difficult for Chief Engraver James B. Longacre when he was crafting the Liberty head double eagle. Image: Wikimedia Commons.

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 regularly. 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.