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The 1849 Liberty Head Double Eagle: A Unique Pattern in the Smithsonian, and the $20 Gold Coin First Struck for Commerce in 1850
The 1849 date exists as a single pattern; production for commerce began in 1850
Prologue
The 1849 Liberty Head double eagle ($20 gold coin) is a pattern that the U.S. Mint produced to test a new design, and the Smithsonian's National Numismatic Collection describes it as "the only one of its kind." Designed by James B. Longacre, it was the first twenty-dollar gold coin made by the U.S. Mint, produced as gold from California became increasingly available during the Gold Rush. Production for commerce began in 1850. This article treats the 1849 pattern and the circulating double eagles struck from 1850 separately.
At a Glance
- Country
- United States
- Year
- 1849
- Denomination
- 20 Dollars (Double Eagle)
- Designer
- James B. Longacre
- Diameter
- 34 mm
- Weight
- 33.44 g
- Fineness
- .900 gold
- Mintage
- Pattern (one known; Smithsonian National Numismatic Collection)
- Condition
- MS
Historical Background: The Gold Rush and the Birth of a New High-Denomination Gold Coin
Demand for Gold Coins Created by the Gold Rush
Following the discovery of gold in California in 1848, the Gold Rush began in earnest the next year, 1849. The surge in migration to the West and the gold mining boom led to a rapid increase in demand for high-denomination gold coins. The circulating supply of the five-dollar gold coins, which had been the mainstream, became insufficient, and a larger unit coin was needed. In response to this need, a pattern of the Liberty Head Double Eagle was struck in 1849, and production for commerce began in 1850.
America's Economic Expansion and its Gold Coinage System
America was in a period of rapid economic growth during the first half of the 19th century. It was an era of large-scale capital investment in areas such as westward expansion, railroad construction, and industrial promotion. Under a monetary system based on the gold standard, gold coins were a symbol of credit and prosperity. The Double Eagle, with a high face value equivalent to about twice an annual salary of the time, functioned as a valuable means of payment and a store of wealth, circulating for large commercial transactions and among the asset-holding class.
The 1849 Pattern and the Start of Circulation in 1850
The 1849 double eagle is not a coin issued for circulation but a pattern. The Smithsonian's National Numismatic Collection describes this 1849 twenty-dollar pattern as "the only one of its kind." Production for commerce began in 1850, when just over a million were struck at Philadelphia and 141,000 at the New Orleans Mint.
Design and Mintage: A Longacre Masterpiece
Obverse and Reverse Design Elements and Symbolism
The obverse elegantly depicts a left-facing profile of the Goddess of Liberty. Her hair ornament and classical beauty express American ideals while continuing European coining traditions. The reverse is engraved with a powerful eagle with spread wings, its breast adorned with a shield. As America's national bird, the eagle is a symbol of freedom and power, a design infused with the ambition and confidence of the emerging nation.
Longacre and Minting Technology
Designer James B. Longacre, as Chief Engraver of the United States Mint, employed the most advanced technology of the day. The technique of precisely engraving steel dies and striking gold planchets with powerful presses was comparable to global standards of the time.
Metallic Composition and Physical Characteristics
The Liberty Head Double Eagle is struck in a gold alloy (900/1000) of 90% gold and 10% copper. Of its total weight of 33.44 grams, the pure gold content is approximately 30.09 grams. The copper mixture provides suitable hardness and malleability, making the coin durable for long-term preservation. This metallic composition was consistently used as the standard by the United States Mint from 1849 to 1933, guaranteeing stable and reliable quality.
Rarity, Grading, and Market Valuation
The Surviving 1849 Piece
The only 1849 double eagle known to survive is the pattern in the Smithsonian's National Numismatic Collection (ID number 1986.0836.0064; credit line: U.S. Department of the Treasury, United States Mint).
MS63 Evaluation Standards of Grading Services
International grading services such as NGC (Numismatic Guaranty Company) and PCGS (Professional Coin Grading Service) define the MS63 grade as 'Choice Uncirculated: slight marks and faint wear are visible'. An MS63 Double Eagle may show minor marks on its surface under a high-powered loupe, but to the naked eye, it retains a beautiful lustre and detailed design.
Strategies for Collectors and Investors
Its Place in a Series Collection
The Liberty Head double eagle was struck as a pattern in 1849 and for commerce from 1850 to 1907.
Authenticity, Storage, and Acquisition
Identifying Counterfeits, Alterations, and Authentication
Counterfeits of the Liberty Head Double Eagle exist. Key points for identification include precise measurement of the coin's weight and diameter, examination of the fine details on the edge, and the sharpness of the design lines. We strongly recommend purchasing coins that have been certified and authenticated by an international grading service like NGC or PCGS.
Long-Term Storage and Maintenance
Gold is a chemically stable metal, so the risk of corrosion or rust is minimal, but cleaning the surface of the coin should be avoided. The fundamentals of care are to handle it with cotton gloves and store it in an environment with stable temperature and humidity. Storage in a fully sealed coin holder or an official slab from NGC or PCGS is recommended. Slabs from grading services are designed to protect against ultraviolet rays and block external contaminants, which helps to preserve the coin's long-term asset value. It is best to refrain from periodic inspections for cleanliness and to store the coin without handling it.
Value & Rarity
The only 1849 double eagle known is the pattern in the Smithsonian's National Numismatic Collection. This article therefore gives no price for the 1849 date.
In Summary
The 1849 Liberty Head double eagle is the pattern for the first twenty-dollar gold coin made by the U.S. Mint, and the only known example is in the Smithsonian's National Numismatic Collection. Designed by James B. Longacre and produced as California gold became increasingly available during the Gold Rush, the double eagle was struck for commerce from 1850 to 1907.
Where this coin sits
Age of Empire United States 1849
Struck in the same age
Sources & Verification
- Research
- GNJ Numismatic Research Desk
- Last updated
- 6 October 2026
- Sources
Every figure in this article appears in a cited source. If you find an error, please get in touch. Every correction is logged with its date and what changed.