1906 $20 Liberty Head Double Eagle PCGS MS63

1906 $20 Liberty Head Double Eagle PCGS MS63--$6,250.00

      It is with pleasure that we present for your consideration an example of the 1906 $20 gold double eagle, the penultimate year of the popular Liberty head double eagle series. The 1906 $20 gold piece is without a doubt an undervalued coin. Despite its limited mintage of 69,596, circulated examples are typically valued at same level as other dates in the Liberty head series that saw mintages in the millions. The value of 1906 pieces shoots up dramatically in and above MS63, since few such specimens are ever made available. The majority of those that have become obtainable are due to the repatriation of specimens found in Europe. Gold specialist David Akers writes, "The 1906 is similar in overall rarity to the 1901-S, 1902, and 1905-S. It is scarce in average uncirculated (MS-60) condition and it is very scarce in choice mint state [MS63]."

      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, smashed 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 then discovered the myriad lies told about Longacre and his work from the Mint officials; that meeting saved his job as chief engraver.