Many people worldwide have chosen to invest in gold, especially gold coins. While you can invest in so many different types of gold, coins are one of the best and most unique ways to delve into this collection. There are many different kinds of gold coins from different countries, so you can make your El Paso County collection diverse and full of beautiful designs.
One of these popular American gold coins is the double eagle coin. However, there’s a lot more to know about it than its appearance. Read below to learn about what the double eagle coin is, the Saint-Gaudens double eagle coin, Executive Order 6102, the double eagle’s second rise, why vintage coins are valuable, and why you should buy the 2009 double eagle coin. Use this as a guide for when you’re purchasing coins in San Elizario, TX.
What Is a Double Eagle Coin?
When you think of currency nowadays, you picture dollar bills and copper coins. However, the double eagle coin was once considered currency. From 1907 to 1933, the double eagle coin acted as a $20 coin. The Mint created the double eagle coin in 1907, and it became the largest coin available. Before the double eagle coin, the largest coin was the $10 eagle coin. Regular production of the double eagle coin continued until 1933 with Executive Order 6102. It’s this order that makes it hard to buy a double eagle coin in San Elizario, TX today.
The Saint-Gaudens Double Eagle Coin
President Theodore Roosevelt commissioned sculptor Augustus Saint-Gaudens in 1904 to design a new coin after deciding that the nation’s current one needed redesigning. Augustus Saint-Gaudens thus created the double eagle coin, officially minted in 1907. It’s this design that you can still find in double eagle coins you can buy in El Paso County.
You can identify the Saint-Gaudens double eagle coin by its depictions of an eagle and Lady Liberty. The front of the coin features Lady Liberty in a stance with her foot on a rock. She holds her torch in one hand and an olive branch in the other. The other side of the coin features an eagle in flight going across the coin. The design did not originally feature the motto usually spread across all American currency: “In God we trust.” This is because President Roosevelt did not want God’s name engraved in the coin. However, the public demanded that the Mint include the phrase on the coin after its release. By 1808, all double eagle coins produced and minted had the motto, “In God we trust,” printed on them.
Executive Order 6102
The double eagle coin was going strong until 1933 when it all came to a halt. Due to the Great Depression starting in 1929, the United States was struggling with money. Therefore, President Franklin D Roosevelt required the public to turn in their gold coins and bullion to help the economy recover from the Depression. In turn, paper money replaced the coins, and the returned gold was melted together.
As a result of this order, President Roosevelt had 445,500 1933 double eagle coins melted. These coins never went out to the public as tender; however, 20 of these 1933 double eagle coins were stolen from the Mint. The US government has said they have recovered all the stolen coins.
However, the public only had to turn in all but a small amount of their gold, so they could hold onto some of it. That makes vintage gold coins more valuable, as there are fewer available for purchase. But despite this setback, 1933 wasn’t the end of the double eagle gold coin.
The Double Eagle’s Second Rise
The double eagle coin received its second life in 2009 when the Mint created a new version: the 2009 Ultra High Relief Double Eagle Coin. This coin is the best that the United States Mint has to offer, and it features the same imagery as the original Saint-Gaudens imagery of the eagle and Lady Liberty. The only difference made to this coin is that the Mint added four stars to represent America’s 50 states. The coin also includes the motto “In God we trust,” unlike the original 1907 version. The Mint also added a small border to the coin to give it a more consistent edge.
While 90 percent of gold coins consist of 22-karat gold, the 2009 version of the double eagle coin stands out above them. The Mint created this coin with 24-karat gold, making it striking and of high value. There are few coins as stunning as this one.
Why Vintage Double Eagle Coins Are Valuable
If you’re looking to purchase gold coins in San Elizario, TX, you should consider whether you want to buy vintage double eagle coins or the 2009 version. Due to the 1933 order from President Roosevelt, these once common coins are now rare. Therefore, you may struggle to find a gold dealer who can sell them in bulk. Also, they are more expensive. However, their limited availability makes them more appealing to many gold collectors.
You should know that you are more likely to buy a double eagle coin from before 1933 rather than a 1933 coin. Since very few 1933 double eagle coins exist anymore, it’s incredibly expensive to buy. In 2002, a legally owned double eagle coin sold for over $7.5 million. That’s more money than many could ever spend on a single gold coin.
Why Buy the 2009 Double Eagle Coin
If you can’t afford the $7.5 million that the 1933 double eagle coin is worth, you can consider buying one of the 2009 versions in El Paso County. Thankfully, these coins are much less expensive, while they still have the beautiful imagery created by Saint-Gaudens back in 1907. Also, many consider this coin one of the most attractive coins ever minted in the United States. So, while you are purchasing an incredible part of history, you’re also obtaining gorgeous gold coins.
Even if it isn’t the original coin, this 24-karat gold coin is a great addition to your gold collection.
If you want to learn more about investing in gold before you make a bid on a double eagle coin, call Professional Coin Galleries at 888-706-3237. We can help you make an informed decision so that you can make a wise investment.