The Double Eagle gold coin was minted primarily to make it easier to compile all of the gold coming out of California during the Gold Rush for dissemination around the country.  Many were melted and re-minted into smaller units or cut into squares (quarters).

Today, the US Double Eagle is one of the most sought-after and recognizable of the gold coins minted.  Valued as a collector’s item, they are also considered “safe” because when gold was recalled in the 1930’s, collector coins (any coin at that point minted before 1913) was exempted.  It’s considered that if the same thing were to happen today, the government would give the same exemption to older, collectible coins.

The U.S. Gold Double Eagle $20 coin represents something else too.  It’s proof that George Washington’s statement that an ounce of gold would always be worth the same amount, “one fine suit of clothes” was true.  In the day when these coins were minted, $20 would get you a very nice suit, double pants, vest, hat, and gloves.  Today, the $1,000+ price of an ounce of gold will still do the same.

The US Double Eagle is history and is definitely what gold coin collection is all about.