The 1856-O Coronet Head Gold $20 Double Eagle holds a significant place in American numismatic history, representing a convergence of factors that make it both historically important and highly sought after by collectors.
Minted at the New Orleans Mint ("O" mintmark), this coin bears the iconic Coronet Head design, which features Lady Liberty facing left, wearing a coronet inscribed with the word "LIBERTY."
The reverse depicts a heraldic eagle with a shield on its breast, holding arrows and an olive branch, symbolizing strength and peace, respectively. Above the eagle is the motto "IN GOD WE TRUST," and the denomination "TWENTY D." is inscribed below.
The 1856-O Double Eagle holds significance for several reasons. Firstly, it marks the first year of production for the $20 denomination at the New Orleans Mint, making it the inaugural issue of Double Eagles from this mint.
Secondly, it was struck during a time of economic expansion in the United States, driven by the California Gold Rush, which increased the demand for larger denomination coins like the Double Eagle.
Furthermore, the 1856-O Double Eagle is notable for its relative scarcity compared to other issues of the Coronet Head series. While it is not the rarest date, surviving examples are less common, especially in higher grades, adding to its desirability among collectors.
The New Orleans Mint, established in 1838, played a crucial role in minting coins to meet the demands of the growing economy in the southern United States.
The production of Double Eagles at this mint contributed to the circulation of larger denomination coins in regions where gold and silver were prevalent.
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