Coinage in the United States underwent a major growth period in the late 1800s. The discovery of gold in California in 1848 grealtly increased the nation’s supply and necessitated the increased production of gold coins and the establishments of new mint buildings to create new coins. Millions of dollars worth of coins were created during this time.
In 1858 silver was discovered at Comstock Lode in Nevada. Many prospectors who had rushed out to California headed back east to stake their claims. Gold was soon discovered nearby and the local settlers soon began demanding official coins to more efficiently and effectively facilitate economic transactions. The US government established a mint at Carson City, Nevada for the purposes of minting the precious metals discovered in the region.
The Carson City facility did not mint coins for long however. After beginning operations in 1870, the last coins were stamped in Nevada in 1893. The short life-span of the mint has caused any coins created at the site to be much sought-after by collectors.
The Gold Double-Eagle Liberty Coin has been called the “King of Gold Coins” in America before being replaced in the early 1900s by the Saint-Gaudens designs. The obverse of the coin features the profile of Liberty, her hair up in curls surrounding a headband displaying her name. Thirteen stars arc the bust representing the original 13 States. The reverse of the coin shows a majestic classic eagle pose famous in many official US scenes such as the Presidential Seal. The shield of the United States (stars and stripes) adorns its chest and it holds in its right talon an olive branch and in its left thirteen arrows. The eagle is flanked by a scroll which reads the “E Pluribus Unum” motto. Above the eagle are thirteen stars and emanating sun rays.
With a mint run of only slightly more than 111,000, the 1875 Carson City Gold Double-Eagle ($20) Liberty Coin is in exceptionally high demand. Gold prices have swelled significantly in the last number of years due to external economic turmoil and fears of debasement of fiat currencies, lifting the price of all gold coins with it. At 90% gold composition and containing 0.9675 oz. of gold, the 1875 Double Eagle has seen magnificent price increases. Depending on the condition of the coin, the 1875-CC Liberty Double Eagle has risen well over $1500. And with very little sign of the price of gold reversing course, it is expected that the coin market will remain strong also as investors seek not only the physical gold in the coin but also the collectible nature of this beautifully designed work of art.