1904 $20 Liberty Head Double Eagle PCGS MS65+

David Akers writes, "The 1904 is by far the most common date in the Liberty Head Double Eagle series and it is also one of the commonest of all twenties along with the 1908 No Motto, 1924 and 1927. The 1904 is available in large quantities and a great many choice, gem and even superb examples exist." That is why it is not offered at an astronomical price in the superior gem state grade of MS65+!

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.