The $20 Double Eagle: history, design, value, and the $34,000 Pawn Stars purchase #goldcoin #collectables

 

The U.S. gold $20 "Double Eagle" is one of the most iconic American coins — minted from 1849 through 1933 in various designs and with many rare variations. Prices today range from bullion-equivalent levels for common, heavily worn examples to multi-million-dollar sums for the rarest, highest-grade specimens (e.g., the famed 1933 Double Eagle and certain Paquet/1861 variants). Recent dealer price guides and auction records show a wide price spectrum, driven by date/mint, variety, grade, provenance, rarity, and market conditions. A widely seen Pawn Stars clip shows the Gold & Silver Pawn Shop (familiar to fans of the show) buying an 1861/1861-era Double Eagle for about $34,000 — a realistic outcome when an uncommon date and high grade meet demand. (Sources used: Pawn Stars clip and market/auction databases, PCGS, Heritage, APMEX, AP News.) AP News+4YouTube+4pcgs.com+4

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1 — Introduction: why the Double Eagle matters

The $20 Double Eagle occupies a special place in U.S. numismatics and economic history. Minted in the century that followed the California Gold Rush, these coins link the raw material of American expansion (gold) to an era of industrial growth, monetary policy change, and art. The Double Eagle’s face value was $20, which was an enormous sum in the 19th and early 20th centuries; many transactions that would now use paper money or bank transfers once involved large gold coins.

Collectors prize Double Eagles for many reasons:

• Historical significance — they were minted across important historical periods (pre-Civil War, Civil War, Gilded Age, Progressive Era, and into the Great Depression).

• Art and design — several celebrated artists were involved (notably Augustus Saint-Gaudens), producing coins widely regarded as beautiful.

• Rarity and variety — numerous rare dates, mint errors, and short-run variations create collecting niches and dramatic auction results.

• Intrinsic metal value — each coin contains nearly one troy ounce of gold (0.9675 oz actual gold by weight for most $20 issues), giving them a baseline "melt value" tied to the gold market. APMEX+1

This article explains the coin family, how prices are formed, notable modern sales, tips for buyers and sellers, and a close look at the Pawn Stars $34,000 example you mentioned.

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2 — A quick tour of Double Eagle types and landmark varieties

While "Double Eagle" covers many issues, collectors usually think in terms of three major design families and a few legendary outliers:

A — Liberty Head (Coronet) Double Eagle (1849–1907)

• Designer: James B. Longacre.

• Style: Classical Liberty portrait with a coronet, reverse with a heraldic eagle.

• Dates and mint marks vary; earlier dates (mid-1800s) and certain mints (e.g., Carson City “CC”) can be rare and valuable.

• Many Liberty Head Double Eagles that are scarce in high grade command hefty premiums because fewer survive in good condition. ngccoin.com

B — Saint-Gaudens Double Eagle (1907–1933)

• Designer: Augustus Saint-Gaudens — often cited as a peak of U.S. coin artistry. The design was part of President Theodore Roosevelt’s push to beautify American coinage.

• Two broad subtypes: the high-relief 1907 initial coins (difficult to strike and not practical for mass production), then the more common 1907–1933 low/moderate relief with slight design changes through the years (e.g., “With Motto” vs. “No Motto,” and specific mintmarks).

• Many Saint-Gaudens examples (particularly early dates or special mintmark/varieties) are highly sought. The 1933 Saint-Gaudens Double Eagle is legendary — most were never legally circulated and a single specimen sold privately and at auction for record prices. pcgs.com+1

C — Transitional and other early varieties (including Paquet Reverse and 1861 variants)

• Short-run patterns, experimental reverse designs (like the Paquet reverse), and certain San Francisco/Philadelphia rarities from the 1860s–1870s can be extraordinarily valuable when examples survive.

• As late-era discoveries and auction highlights show, even seemingly small design or die differences (Paquet reversal, reverse letter spacing, etc.) can multiply value many times. The Sun

D — Fame: 1933 Double Eagle and other headline coins

• The 1933 Double Eagle story (coins were never circulated due to the U.S. abandoning the gold standard for private ownership; most were melted or seized) created modern mythology. A 1933 specimen famously sold for tens of millions. That sale—and other million-dollar auction results—push public interest higher and sometimes lifts prices for other rare Double Eagles. Facebook+1

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3 — Metal content and the "melt floor"

Most classic U.S. gold Double Eagles (Liberty and Saint-Gaudens types) were struck in 90% gold / 10% copper. The coin's actual gold weight (the amount of fine gold) is about 0.9675 troy ounce. That means even a common date has a baseline value tied to the gold spot price: multiply the daily gold price per troy ounce by 0.9675 to find the melt value, then add dealer/collector premiums for condition, rarity, certification, and history. For example, if spot gold were $2,000/oz, the pure metal content would be about $1,935 (0.9675 × $2,000) — the baseline before any numismatic premium. APMEX+1

Important note: numismatic value can dwarf melt value. A near-mint, rare-date Double Eagle may sell for tens of thousands to millions, far above the coin’s metal content.

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4 — What determines the price of a Double Eagle?

Several interlocking factors drive the market price for a given Double Eagle:

1. Date and mint mark — Scarcer years and specific mints (e.g., Carson City CC, San Francisco S, or rare Philadelphia die varieties) are worth more.

2. Variety — Paquet reverse, high relief, no-motto vs. with-motto differences, and pattern coins can be premium items.

3. Condition/grade — Coin grading is central. A well-graded certified coin (by PCGS or NGC) in Mint State (MS) grades can be worth orders of magnitude more than the same date in heavily worn grades (Good, Fine, Very Fine).

4. Certification and holder — Coins slabbed (sealed) and graded by respected grading services command higher trust and often better prices.

5. Supply, demand, and collecting trends — Collector interest (e.g., renewed interest in classic designs, a popular TV appearance) can temporarily or permanently raise value.

6. Provenance — Coins with famous ownership histories, pedigrees, or notable previous auction records may earn premiums.

7. Market liquidity and gold price — A rising gold price raises the underlying melt floor and can affect buyer psychology. Auction results and private sales set price signals. pcgs.com+1

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5 — Representative price ranges (what dealers and auction records show)

Because Double Eagle prices span a huge range, here are representative categories and approximate values based on recent dealer listings and auction records (note: market changes rapidly; the ranges below are to illustrate scale rather than act as real-time quotes):

• Common dates, circulated (VG–XF): typically trade near a low premium over melt value — often a few thousand dollars depending on spot gold and condition. Many common 20-dollar coins in average condition will be priced near the metal value plus a modest numismatic premium. APMEX

• Uncommon dates, AU–MS60 range: prices often climb to several thousand up to $10k+ depending on date and grade.

• Scarce dates, proof-like or certified MS63–MS65: numbers vary widely; many Saint-Gaudens specimens in high certified grades can trade from mid-four digits to tens of thousands. PCGS/NGC marketplace listings show MS64–MS65 Saint-Gaudens often in the $4k–$40k window depending on year and scarcity. pcgs.com+1

• Rare date/variety high grade or pedigreed pieces: $50,000 to several hundred thousand dollars.

• Legendary rarities (e.g., certain Paquet reverse 1861 variants, finest-known specimens, or legally owned 1933 Double Eagle): can sell for millions. Recent high-profile auctions have reached into the millions for 1860s/1870s rarities and the 1933 Double Eagle attracted headline prices in the tens of millions. The Sun+1

Examples from auction houses and marketplaces underline this spread: PCGS auction pages list certain Saint-Gaudens coins selling in the tens of thousands; Heritage and Stack's Bowers show multi-hundred-thousand to million-plus results for the rarest issues. pcgs.com+1

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6 — Case study: the Pawn Stars $34,000 Double Eagle purchase

You mentioned a video seen on YouTube where Pawn Stars (Gold & Silver Pawn Shop / Rick Harrison) purchased a Double Eagle for $34,000. This clip is real and has circulated widely: it shows a bail bondsman/customer bringing in an 1861-era $20 Double Eagle (a Civil-War era Liberty-type piece or other early variant) as collateral, and experts assessing it before a purchase offer is made. The seller had used the coin to secure a bail and the pawn shop ended up paying around $34,000 for the piece. YouTube+1

Why $34,000 could be reasonable in that scenario

Several elements can explain a $34,000 purchase price:

• Scarcity by date/variety: An 1861 (or similar Civil-War era) Double Eagle in a high grade is uncommon; certain die varieties are particularly scarce. A specialist appraiser called into the show could identify a valuable variety, pushing valuation above typical dealer offers.

• Condition and grade: If the coin appeared in exceptionally high preserved condition (for an 1860s coin), its numismatic premium over melt would be substantial. Even if the metal content was only a few thousand dollars in melt, collector premiums for rare, high-grade Liberty Head Double Eagles can leap into five figures or more.

• Marketability: Pawn shops that are connected to high-visibility channels (and which have relationships with dealers or auction houses) may be willing to pay more than a small local dealer if they believe the coin can be immediately flipped to a collector or auction for an even higher price.

• Negotiation and context: The pawn shop may have been covering a partial debt (e.g., bail) and structured the deal accordingly. The show’s negotiation dynamic, expert opinions, and public display can affect the final agreed price. Market outlets confirm that similar Pawn Stars segments have ended with six-figure outcomes or multi-ten-thousand dollar purchases. marketrealist.com+1

What to check if you see this on YouTube

If you saw the clip and are curious about whether the $34,000 figure is realistic for every $20 Double Eagle, remember:

• The clip shows one coin with a particular date/condition/variety and one negotiation outcome. Not every Double Eagle is worth that sum.

• Television edits compress the narrative: the price often reflects an appraisal process, dealer input, and expert confirmation — not a random “value” for the whole date set.

• If you want to verify a specific coin’s value, the coin’s date, mintmark, die variety, and a certified grade (PCGS/NGC recommended) are the starting points.

For the Pawn Stars episode specifically, the video is widely available and is referenced in multiple places (YouTube clip and articles summarizing the episode). That clip is a concrete example of how a rare 1860s Double Eagle in good condition can command a $30k+ price in dealer/pawn shop environments. YouTube+1

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7 — Recent auction highlights and what they tell us

Modern auction houses frequently set the market tone for rare Double Eagles:

• High-profile sales: Auction houses have sold Double Eagles in the millions (some for very specialized or unique types). This proves that the top end of the market is extremely hot for the rarest varieties and best grades. Recent headlines around Paquet-reverse 1861 and 1870 Carson City pieces highlight both the rarity and the collector demand that can push prices into the high six- and seven-figure range. The Sun+1

• Frequent mid-range results: Heritage and Stack's Bowers regularly sell Saint-Gaudens and Liberty Heads across a wide price ladder — from a few thousand for common, low-grade examples to tens of thousands for nicer specimens. These sales provide comparative evidence for dealers and collectors setting buy/sell prices in the marketplace. Heritage Auctions+1

• Dealer price guides: PCGS and NGC provide active price guides and auction histories showing many sales by grade and date. These pages help buyers and sellers estimate value ranges, though actual sale results at auction (especially with strong bidder competition) can exceed listed guide prices. pcgs.com+1

Practical takeaway: if you own or are evaluating a Double Eagle, check both live auctions and price guides, and consult specialists for rare dates and pedigreed specimens.

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8 — Authentication and grading: how to avoid mistakes and fraud

Because the dollar amounts involved can be large, rigorous authentication and grading are essential:

• Use trusted grading services — PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) are the industry leaders. A properly slabbed coin with a clear grade is easier to sell and commands narrower spreads between buy and sell prices.

• Beware counterfeiters — rare gold coins are targets for skilled counterfeiters. Authentication by top services reduces risk.

• Third-party opinions — when handling a potentially rare or expensive Double Eagle, shops often call recognized specialists or auction houses for a second opinion. Pawn Stars episodes routinely show such expert calls before commission-level deals are concluded. YouTube+1

• Provenance matters — documented previous auction records or pedigrees add confidence and value. If a coin is from a well-known collection, attach the paperwork.

If you think you have a valuable Double Eagle, resist selling immediately to a non-specialist buyer; get graded and obtain at least two independent appraisals.

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9 — Where to buy and sell Double Eagles safely

• Reputable coin dealers — long-established dealers with real storefronts and positive track records are good starting points.

• Major auction houses — Heritage, Stack's Bowers, and Sotheby’s/Christie's handle rare/expensive pieces and will get wide exposure.

• Online trading platforms — APMEX, ModernCoinMart, and dealers listed on PCGS/NGC marketplaces provide retail access; but realize prices there reflect retail premiums.

• Coin shows and conventions — allow hands-on inspection and face-to-face negotiation with multiple dealers.

• Pawn shops and local buyers — sometimes yield good deals for sellers in a hurry, but expect lower offers compared to auctions or specialist dealers. The Pawn Stars example shows that occasionally a pawn shop will pay a high price, but this typically involves exceptional coins and a strong appraiser/dealer network. APMEX+1

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10 — Storage, insurance, and legal issues

• Storage — high-value coins should be stored in bank safe deposit boxes, insured private vaults, or home safes that meet security standards.

• Insurance — obtain fine-art or collectibles insurance with a defined appraised value (update appraisals periodically).

• Legal and tax — selling coins for profit may have tax implications (capital gains). For U.S. taxpayers, gains on precious metal collectibles can have special tax rules. Consult a tax professional for your jurisdiction. Also, keep sale paperwork and provenance documents to substantiate value for tax purposes.

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11 — Investment vs. collecting: the mindset difference

• Investor mindset treats Double Eagles partly as alternatives to gold bullion — but investors often prefer modern bullion coins (Gold Eagles, bars) where premiums and liquidity are better. Double Eagles, being numismatic, can outperform bullion but carry unique risks (rarity, grade, market sentiment).

• Collector mindset seeks specific dates/varieties and values the coin for its historical and aesthetic attributes — pricing is driven by collector demand rather than purely melt value.

Both strategies work — but they require different sourcing, holding horizons, and risk tolerance.

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12 — Practical tips for buyers and sellers

For buyers

• Learn grading basics (what MS63 vs MS65 means).

• Demand slabbed (PCGS/NGC) coins for high-value purchases.

• Check auction records for similar coins.

• Avoid “too good to be true” online deals without certification.

For sellers

• Get the coin graded and slabbed if you suspect high value.

• Shop around (specialist dealers vs. auction houses).

• Consider consignment to a reputable auction house for max exposure if you own a rare example.

• If urgency is high, you may accept a dealer/pawn offer — but expect less than auction realization.

Negotiation pointers

• Bring documentation (previous sales, grading reports).

• Understand the full market — melt value gives you a walkaway floor.

• Use multiple appraisals to triangulate value.

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13 — The Pawn Stars effect and media influence on prices

Television and viral clips can inflate public interest in particular coin types. Pawn Stars and similar programs offer lighting-rod moments where a dramatic find creates short-term excitement. That doesn’t mean every piece will jump in value, but media attention can:

• Bring new buyers into the market.

• Raise interest in particular dates/varieties.

• Create price spikes for similar coins when supply is limited.

The $34,000 Pawn Stars transaction is a real example of media spotlight and of how an exceptional find — especially with on-camera expert confirmation — can produce a high purchase price. But remember: behind every on-camera sale is grading, provenance, and negotiation — it’s not a guarantee for every seller. YouTube+1

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14 — Frequently asked questions (short answers)

Q: Are all $20 Double Eagles worth $34,000?
A: No. That $34,000 was for a particular coin with a particular date/condition/variety. Many Double Eagles are worth only a few thousand or near melt value.

Q: Is the 1933 Double Eagle the same as the Pawn Stars coin?
A: No. The 1933 Double Eagle is a unique, highly famous legal case. The Pawn Stars clip involved an 1860s/early issue (not the 1933 legal saga). Facebook+1

Q: How can I check an online price?
A: Use PCGS and NGC price guides, APMEX for dealer listings, and Heritage/Stack’s auction archives for realized prices. Compare between them. pcgs.com+2APMEX+2

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15 — Conclusion: the enduring allure of the Double Eagle

The $20 Double Eagle is not just bullion; it’s a compact piece of U.S. history. From Liberty Head coronets to Saint-Gaudens’ famed designs, Double Eagles tell stories of artistry, national policy, the gold economy, and the collectors who preserve these artifacts. While a handful of headline coins sell for enormous sums and TV moments (like the Pawn Stars $34,000 purchase) capture imaginations, the broader market is a ladder of values where date, variety, grade, and provenance govern price.

If you own a Double Eagle or think you might have found one in an attic, approach it with excitement — and caution. Document the coin, consult reputable graders and dealers, and get multiple opinions before selling. A single 19th-century coin in exceptional condition might become the very find that launches headlines; more commonly, the Double Eagle will reward patient collectors with deep historic interest and, sometimes, solid financial upside.

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Sources and further reading (selected)

• Pawn Stars clip: “$34,000 For Rare 1861 Gold Coin (Season 3)” — YouTube. Example of a pawn shop buying a rare Double Eagle for ~$34,000. YouTube

• PCGS Price Guide and auction data — Saint-Gaudens and Liberty Head $20 listings and auction records. Useful for grade-by-grade price benchmarking. pcgs.com

• Heritage Auctions — Double Eagle auction archives and realized prices for comparative evaluation. Heritage Auctions

• APMEX Gold Double Eagle value chart — dealer listings and bullion comparisons for the Saint-Gaudens $20. Good for understanding melt floor and dealer premiums. APMEX

• AP News & other auction reports — coverage of rare Double Eagle auction results showing the high end of the market. AP News