Double Eagle Gold Coins

[Enciclopedica]

Double Eagle Gold Coins

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Double Eagles are U.S. $20 gold coins, which served as money in the United States from 1850 to 1933. Their rein as the United States' premier gold coins ended with President Franklin Roosevelt's 1933 Executive Order 6102, which required Americans to turn in their gold coins and gold bullion.

Roosevelt's action is often referred to as a confiscation, but technically was a call-in because those turning in their Double Eagles were given twenty dollars in paper money, which had equal purchasing power at the time to twenty dollar Double Eagles.

Double Eagles Gold Coins are highly promoted

Today, Double Eagle gold coins are the most frequently promoted gold coins by telemarketers, and all investors who are considering buying Gold Double Eagles need to get all the facts before writing any checks. Invariably, telemarketers price Double Eagle gold coins several hundred dollars above the going market for the coins.

Promoters usually cite two reasons for buying Gold Double Eagle Gold Coins: Roosevelt's 1933 call-in and the potential for premium increases. Readers of this page will learn the major flaws in both reasons.

Double Eagle coin specs

Double Eagle gold coins are two types: the $20 Liberty Head gold coins(1850-1907) and the St. Gaudens gold coins (1907-1933).

The Double Eagle gold coin measures 34 mm in diameter and contains .9675 ounce of gold in an alloy of 90% gold and 10% copper. The official gross weight of the Double Eagle gold coin is 516 grains, but what is important for investors to know is that the Double Eagle gold coin contains .9675 ounce of gold.

The Double Eagles and the Gold Eagles

Investors new to the gold coin market often confuse the Double Eagles with the modern Gold Eagles, which the U.S. Mint began producing in 1986 for sale to gold bullion investors. Any initial confusion is understandable because of the similarity of the coins, as both coins carry the famed sculptor Augustus Saint-Gaudens' design of Lady Liberty.

Mistakenly, new investors often refer to the Lady Liberty design as the Walking Liberty, which it is not. The Walking Liberty design is the A.A. Weinman rendition of Lady Liberty, and it graces the classic U.S. Walking Liberty half-dollars, minted 1916-1947.

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