1903-S $20 Liberty Head Double Eagle PCGS MS63

Here’s one of the last Liberty head double eagles issues ever struck at the famed San Francisco Mint, the ‘Granite Lady’ that survived the devastating earthquake and fire of 1906 unharmed. PCGS has graded 1,827 as MS63 with 578 finer. Collectors Universe gives this issue a price of $4,500.00 in MS63.

Conflict was rife between Chief Coiner Franklin Peale (left) and Chief Engraver James B. Longacre (right). Both photos: 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 daily. Finally, he went to the Treasury Secretary in Washington, who discovered all the lies told about Longacre and his work by the Mint officials; that meeting saved his job as chief engraver.