U.S. Double Eagle Gold Coins are most frequently referred to as $20 Saint Gaudens Double Eagles.
These magnificent pieces are popular as the most exquisite circulated U.S. Mint releases. This explains their widespread appeal to coin collectors and speculators alike. The coins were initially in use until 1933, that time was at the height of the Great Depression. Also during this time, it was when then-President Franklin D. Roosevelt decided to make it illegal for Americans to store gold. Money was made out of this gold as well.
He remanded all gold coins to the US Treasury’s boundaries in order to do this. Unfortunately, countless millions of them were brutally melted down and then fashioned into featureless gold bars.
History and Background of U.S. Double Eagle Gold Coins
Theodore “Teddy” Roosevelt placed the first order for American Double Eagle Gold Coins. Prior to the California gold rush, the largest American gold coin minted was the $10 face value gold Eagle. Congress granted the Treasury and the U.S. The abundance of American gold that had been found in Western mines in California could be effectively minted in coins in 1849 thanks to the Mint’s authorization to produce a larger $20 gold piece.
It naturally earned the moniker “double eagle” since it had double the face value of other coins of the era.
The U.S. Mint was compelled to mint literally hundreds of millions of ounces of U.S. gold in the shape of these new, larger Double Eagles as a result of later gold discoveries in Colorado, Nevada, Alaska, and Arizona. This explains why they feel such a direct and strong connection to the heyday of the Old West and its history of gold mining.
What did these $20 St. Gaudens gold coins symbolize? The answer is the immense wealth that the United States had amassed from the second half of the 19th century to the rest of the world.
These coins date back to the Miner 49ers, who first appeared in ancient California in 1849 and persisted through the 1898 Alaskan gold rush.
This tangible piece of Americana not only protects your wealth but offers you the ability to hold actual physical American history within your two hands.
Physical Features of U.S. Double Eagle Gold Coins
These Saint Gaudens Gold Coins were all produced by one of the three major gold mints of the time, which were located in either San Francisco, Philadelphia, or Denver. Each piece has a gold content that is almost an ounce.
Design of the coin
Numismatists refer to the front of coins as their “obverse” in all parts of the world. The Obverse of Coins has a beautiful image of Lady Liberty strolling in front of the sun’s rising rays at the start of a new day. She is holding a flame aloft with her right hand and an olive branch of peace in her left.
On the reverse background, the United States Capitol is visible in the lower-left corner.
At the coin’s borders, stars represent the total number of states that were members of the Union at the time.
“Reverse” refers to a coin’s reverse side.
The reverse of U.S. Double Eagle Gold Coins features the fabled American eagle. It powerfully soars above a picture of the sun that is blazingly bright. Coins minted between 1907 & 1908 lack the national motto “IN GOD WE TRUST.”
Every coin made from 1908 to 1933 displays it. The number of stars surrounding Lady Liberty increased from 46 to 48 in 1912. This was to commemorate the admission of Arizona and New Mexico as states to the union. This reverse side also clearly shows the face value of “Twenty Dollars. ” Augustus Saint-Gaudens originally created these coins, which is why they are known as St. Gauden’s gold coins.
Specifications of Coin
The United States consistently produced Saint Gaudens gold coins. Mint from 1907 to 1933. Only one size of nearly one troy ounce of these U.S. Double Eagle Gold Coins is produced.
U.S. Double Eagle Gold Coins Pricing
The face value of U.S. Double Eagle Gold Coins has always been $20, as it is written clearly on the coins themselves. Within American boundaries, each of these beautiful pieces is accepted as lawful tender. Using a coin with a gold content equivalent to far over $1,000 for such a sum will be foolishness.
The causing fact is that these historical treasures have much higher inherent value than their apparent face value suggests. Although there is an additional premium for the coins due to their popularity and collector appeal related to their rich history of the Old American West. But it turns out that their intrinsic value is primarily depending on the spot gold prices.
The market value of these coins is based on their intrinsic value. The market value determines what the actual contribution from such U.S. Double Eagle Gold coins is for determining a portfolio’s value. The U.S. Mint invested significant costs when designing, producing, and circulating these coins. This helped them to explain why they sell for more than the spot. These attractive issues’ market worth and price fluctuate daily along with the erratic price of gold on the international markets.
Is U.S Double Gold Coin IRA eligible?
Only the Internal Revenue Agency has the authority to decide which coins are permitted and which are not in the country’s main retirement vehicles. They base their decision on two criteria. These two are:
Firstly the coins’ collectability and premiums.
Secondly the purity of the gold they are considering permitting in your self-directed IRA vehicles.
This account cannot be opened without a $5,000 minimum purchase of gold or silver bullion that has been approved by the IRS. Once someone has opened such an account, they can make more purchases as frequently as they would like with merely a $1,000 minimum each time.
If one already has a standard IRA account, rolling it over to one of these precious metals retirement vehicles is a simple process. One will need to choose a new IRA account administrator to manage and oversee all of their purchases, sales, and storage of precious metals.
The client’s consignment of precious metals will be purchased, accepted, and transshipped to an IRS-approved third-party vault for storage and security. At no point during the procedure will someone really handle these coins; if they do, the precious metals will no longer be eligible for inclusion in their self-directed IRA. The IRS does not make exceptions to these rules and regulations.
Are these coins eligible for IRA investments?
The minimal amount of gold purity required by the IRS for inclusion in IRAs is strict.995 fineness. Because they are the only ones available, Saint Gauden’s gold coins are not allowed in IRAs for precious metals. Gold purity of 900.
The IRS would still disavow them even if they had a high enough gold purity, which they do not, due to the fact that these coins are primarily collectible and fetch greater premiums in even average circulated conditions. Proof and certified uncirculated coins are far more expensive than spot gold pricing. The most prized American gold pieces are not IRA-eligible, but they are still fantastic choices for retirement, investment, and collecting gold bullion coin portfolios.
One is able to buy them from the most reputable precious metals, coins, bullion, and many jewellery dealers around the U.S. and the world in general.
Summary
Well, the Liberty Head double eagle coins were once an under-appreciated gold coin series but today they’re among the most valuable coins and in fact, more valuable than gold itself. A $20 Liberty Head double eagle gold coin with an average condition is worth roughly $2,000 in terms of value.
Because of three characteristics, which are quality, guaranteed return, and increased demand, they are an excellent choice for investment. One of the finest representations of American liberty and freedom, they are made to the high standards of quality, craftsmanship, and pride that one would expect of the United States Mint.
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