The 1849 Double Eagle is a remarkable coin, regarded as one of the most unique pieces in American numismatics. Known for its historical significance and rarity, this coin represents a critical period in U.S. history when the country transitioned to larger denominations in response to the California Gold Rush. The Smithsonian Institution proudly houses the only known specimen of this coin, making it a priceless artifact of American heritage.
A Brief History of the 1849 Double Eagle
The 1849 Double Eagle emerged from the need to standardize currency during the California Gold Rush. With an influx of gold, the U.S. Mint decided to create a larger denomination than the $10 Eagle coin. Thus, the Double Eagle, valued at $20, was introduced.
The first coin struck was a prototype, and only one is known to exist today. It became a precursor to the regular production of Double Eagles in 1850. The design features Liberty adorned with a coronet on the obverse, symbolizing liberty and progress, and an eagle with a shield on the reverse, representing strength and protection.
Why Is the 1849 Double Eagle So Rare?
The rarity of this coin is due to its status as a pattern coin. Pattern coins are test strikes created to evaluate a design before mass production. While most pattern coins are destroyed or kept in archives, this particular specimen survived and became a collector’s dream.
The coin never entered circulation, as it was intended solely for presentation purposes. Its survival owes much to its inclusion in the National Numismatic Collection, preserved by the Smithsonian Institution.
Features of the 1849 Coronet Head Gold Double Eagle
| Feature | Details |
|---|---|
| Material | Gold |
| Denomination | $20 |
| Year of Minting | 1849 |
| Design | Coronet Head Liberty (Obverse) and Eagle (Reverse) |
| Current Location | Smithsonian Institution, Washington, D.C. |
| Status | Unique (One Known Specimen) |
Its Place in American History
The 1849 Double Eagle marked a significant evolution in U.S. currency. It was designed during an era of economic expansion and technological progress. The California Gold Rush of 1848 led to the need for larger denominations, simplifying transactions involving substantial sums of gold.
While the 1849 specimen itself didn’t enter circulation, the $20 Double Eagle became a widely used coin in subsequent years, playing a vital role in the American economy, particularly during the Civil War and westward expansion.
Preservation and Display
The Smithsonian Institution’s National Numismatic Collection is home to this coin, ensuring its preservation for future generations. Visitors to the Smithsonian can marvel at the Double Eagle as a symbol of innovation, history, and the artistry of the U.S. Mint.
The coin is kept under strict environmental and security measures to maintain its pristine condition. It is a centerpiece of the Smithsonian’s numismatic exhibit, drawing coin enthusiasts and historians from around the world.
Fascinating Facts About the 1849 Double Eagle
- Prototype Status: The 1849 Double Eagle was never mass-produced, making it an exceptional pattern coin.
- First of Its Kind: This coin paved the way for the regular $20 Double Eagle series that began in 1850.
- Cultural Icon: Its design became one of the most iconic representations of U.S. coinage.
- Priceless Value: As part of the Smithsonian Collection, the coin is considered priceless and irreplaceable.
- Historical Connection: It symbolizes the economic impact of the California Gold Rush.
Conclusion
The 1849 Coronet Head Gold $20 Double Eagle is not just a coin; it’s a piece of American history. Its unique design, historical context, and unparalleled rarity make it an enduring symbol of the nation’s economic and cultural development. Safeguarded in the Smithsonian Institution, this one-of-a-kind artifact continues to inspire awe and curiosity among collectors, historians, and the general public alike.
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FAQs
1. Why is the 1849 Double Eagle so valuable?
The 1849 Double Eagle is valuable due to its uniqueness, historical significance, and its status as a prototype coin preserved in the Smithsonian Institution.
2. How many 1849 Double Eagles exist?
Only one known specimen of the 1849 Double Eagle exists, making it an unparalleled rarity.
3. Can the 1849 Double Eagle be purchased?
No, the coin is housed in the Smithsonian Institution and is not available for sale.
4. What inspired the creation of the $20 Double Eagle?
The California Gold Rush prompted the U.S. Mint to create larger denominations, leading to the introduction of the $20 Double Eagle.
5. Where can I see the 1849 Double Eagle?
You can view the 1849 Double Eagle at the Smithsonian Institution’s National Numismatic Collection in Washington, D.C.