How Much is a Double Eagle Coin Worth

 The Double Eagle coin is one of the most famous and sought-after gold coins in American numismatic history. Struck by the United States Mint, these coins were produced between 1849 and 1933, primarily to facilitate large transactions and commerce during a time when gold was a standard part of the monetary system.

The Double Eagle coin holds immense historical significance, representing a key period in U.S. economic development. In this article, we will learn more about the Saint Gaudens Double Eagle coin. Let's dive in!

What is a Saint Gaudens Double Eagle Coin?

A Saint Gaudens Double Eagle is a type of American gold coin that was produced from 1907 to 1933. The front of this coin features a design of Lady Liberty striding forward, with the sun behind her and the Capitol building in the distance. Its back side has an eagle in flight.

This coin was considered to be one of the most beautiful American coins ever made, which is why it remains a popular collectible item today. It was initially minted in $20 denominations and was in circulation until 1933.

In 1933, President Franklin Delano Roosevelt (FDR) commanded the U.S. government to halt the production of gold. He did this as a response to the economic turmoil caused by the Great Depression. FDR recalled these coins, which resulted in the vast majority of them being melted down.

History of the Saint Gaudens Double Eagle Coin

This unique coin was named after its designer, Augustus Saint-Gaudens, who was one of the most prominent sculptors in America during the early 1900s. At that time, President Theodore Roosevelt wanted to reform the nation's coinage system. He was an avid supporter of the arts and wanted an intricate design that reflected the U.S.'s unique heritage.

The first Saint Gaudens Double Eagle coins were minted in 1907 and were popular for their unique designs, which paid homage to U.S. culture. It received some backlash since some people thought the Lady Liberty design was too European. Despite this, it remained in circulation until 1933, when they were recalled as part of the response to tame the Great Depression.

Materials in a Saint Gaudens Double Eagle Coin

Each 1 oz Saint Gaudens Double Eagle gold coin is made with 90% gold and 10% copper. Copper is used to improve the coin's durability and resistance to wear and tear.

Most gold coins contain at least small amounts of copper since gold is a soft metal that is prone to scratches and other damage. A general rule of thumb is that gold coins are typically more valuable if they have higher gold purities (99% vs. 90%) and larger sizes (1 oz vs. ½ oz).

Every Saint Gaudens gold coin is made with U.S-sourced gold, found in mines throughout the Western U.S. Most of these coins were also minted at major U.S. mints located in major cities like Denver and San Francisco. This coin was considered to be rare until millions of them were discovered in foreign banks throughout the world.

Best Alternatives to Double Eagle Coins

Some of the best double eagle gold coin alternatives include:

Krugerrands

This gold coin was created in 1967 and is from South Africa. Each Krugerrand contains 1 oz of 22-karat gold along with bits of other metals like copper to ensure durability.

This coin is still legal tender in South Africa, in addition to its currency, the Rand. It also inspired other nation's coins like the Canadian Maple Leaf and the revival of the American Gold Eagle coin.

American Gold Eagle

The American Gold Eagle is unique since each coin is mined with gold from U.S. mines. Each coin contains 1 oz. of 22-karat gold. The U.S. government guarantees the purity and value of each coin, making them one of the most popular traded gold coins in the world.

Best Companies that Sell Double Eagle Coins and Other Precious Metals

It's never been easier to find a precious metals dealer, thanks to the internet. Ensure that your precious metals dealer is BBB accredited and has positive customer reviews on sites like Trustpilot. You would also want to make sure it has a user-friendly site and helpdesk.

So how much is a double eagle coin worth? Generally, you'll have to talk with a live representative who confirms your order, price and shipping address, since prices frequently change. However, you can expect to pay around $2,000 per 1 oz coin.

Each dealer's representative will also walk you through transit insurance policies that protect your double eagle coins en route to your address.

Work with dealers that offer free content, like Advantage Gold's ultimate guide to gold investing. This simple guide will show you the ins and outs of investing in gold coins, bars and precious metals IRAs.

How to Buy Double Eagle Coins in a Precious Metals IRA

Companies like Advantage Gold and American Hartford Gold are also precious metals IRA custodians. The right custodian can help you file proper paperwork with the IRS, track your basis and gains and safeguard your precious metals. Some IRA custodians like the ones listed above can offer free perks.

The beauty of working with these companies is that you can establish a precious metals IRA online on the same day. However, it can take up to five business days to fully fund your account. Once the account is funded, you can invest in gold and silver on a tax-deferred or tax-free basis. Having a precious metals IRA can save you thousands if not tens of thousands of dollars in taxes.

Are Double Eagle Coins Worth Buying?

It depends on various factors like your risk tolerance, age and investment goals. Gold has been used as a hedge against inflation. For example, gold returned 139% from 1973 to 1974, while the S&P 500 was down 48% during this same time.

Buying gold coins can be a user-friendly way to gain access to physical gold at a reasonable price. However, gold isn't for everyone since these coins don't earn dividends like high-yield stocks. They're also less liquid than the typical stock or gold ETF.

Frequently Asked Questions