The Type One Liberty Head Double Eagle, minted from 1850 to 1866, is a significant piece in U.S. numismatics. Despite its historical importance, its popularity among collectors has seen notable shifts over time.
Early Years and Initial Reception
Upon its introduction in 1850, the double eagle became the most popular gold coin in terms of the number of pieces struck. During the denomination’s life, from 1850 to 1933, far more gold was struck into double eagles than into all other denominations combined.
Mid-20th Century: Limited Collector Interest
In the post-World War II era, few collectors specialized in Type One Double Eagles. Prominent numismatists like the Norweb family, James Stack, and Louis Eliasberg included these coins in their collections, but none focused exclusively on them. Auction catalogs from this period reflect a scarcity of dedicated Type One specialists.
Late 20th Century: Catalysts for Popularity
The late 1990s and early 2000s marked a turning point for the Type One Double Eagle’s popularity:
- Shipwreck Discoveries: In 1999, the recovery of coins from the S.S. Brother Jonathan shipwreck brought numerous high-grade Type One Double Eagles to market. This event, along with earlier discoveries from the S.S. Central America and later the S.S. Republic, garnered significant attention, highlighting the historical narratives associated with these coins.
- Harry Bass Collection Auctions: Between 2000 and 2001, the auctions of the Harry Bass Collection showcased an extensive and high-quality assemblage of U.S. gold coins, including Type One Double Eagles. Bass’s meticulous focus on die varieties and comprehensive holdings elevated interest and awareness among collectors.
21st Century: Sustained Interest and Market Dynamics
By 2020, Type One Double Eagles had become a focal point in the rare date U.S. gold coin market. Their popularity experienced fluctuations, influenced by rising prices and shifts in collector demographics. Nonetheless, the series remains esteemed for its historical significance, substantial gold content, and the allure of assembling date-specific collections.
Conclusion
The journey of the Type One Liberty Head Double Eagle from a utilitarian gold coin to a collector’s treasure underscores the evolving nature of numismatic interests. Factors such as shipwreck recoveries, landmark auctions, and increased scholarly attention have all contributed to its current status as a cherished piece of American coinage history.
FAQs
When did Type One Double Eagles gain popularity among collectors?
While initially overlooked, their popularity grew in the late 1990s and early 2000s due to shipwreck discoveries and major coin auctions.
Why are Type One Liberty Head Double Eagles significant?
Minted from 1850 to 1866, they were the first U.S. $20 gold coins, playing a crucial role in American commerce and gold circulation.
What shipwreck discoveries increased interest in Type One Double Eagles?
Coins recovered from the S.S. Central America, S.S. Brother Jonathan, and S.S. Republic brought high-grade examples to market, attracting collectors.