Product Description

The St Gaudens Double Eagle coin is a twenty-dollar gold coin, which was produced by the US mint from 1907 – 1933. Augustus Saint-Gaudens was asked by President Roosevelt to augment the beauty of American coinage.

The St Gaudens Double Eagle coin was modified from its original design due to production difficulties. The relief was lowered so the coin could be struck with a single blow. The 1933 Double Eagle coin is considered to be one of the most valuable and sought after of US coins.

Minting of the St Gaudens Double Eagle ceased for a time in 1916 because bullion prices were escalating due to WWI. Banks and other holders of gold coins refused to pay them out at par value and they disappeared from circulation. After the war, demand for the Double Eagle coin increased. In addition, Europeans were wary of their local currencies and demanded Double Eagle coins.

Double Eagle gold coins were struck in large quantities as production resumed in 1920. At this point, the gold coin was used for international trade or held for backing gold certificates. Double Eagle gold coins were rarely circulating in America at this time.

The beginning of the 1929 Depression did not cease minting of the coins, yet the coins were held in Treasury vaults and very few were released. Great rarities of the St Gaudens Double Eagle coins came to be during its final years of production; despite nearly 2 million pieces minted of the 1929 Double Eagle, it is estimated that fewer than 2,000 exist today – the rest was melted by the government in the late 1930s.

Double Eagles were struck during the early part of 1933. Early that year, President Roosevelt ordered the Treasury not to pay out any gold. The Double Eagle continued to be struck until May of that year. In December of 1933, Americans were ordered to turn in all gold coins and gold certificates (with little to no exceptions) in exchange for paper money. Millions of gold coins were melted by the US Treasury in the following years.