1861 $20 (1861 Double Eagle) PCGS AU58. Civil War Type 1 Double Eagle. This sharply stuck, Civil War dated 1861 Double Eagle has much mint luster remaining within its devices. The centers of the stars and the hair details on the obverse and the design details on the reverse all show evidence of a well struck piece. Sufficient separation is seen between the lines of Libertys hair and the coronet to warrant the grade. A couple of small copper spots on the reverse are noted for the sake of accuracy. Otherwise, the surfaces are clean and attractive for the grade.

Designed by James B. Longacre, the coin shows a handsome head of Liberty facing left, wearing a pearl-bordered coronet which is inscribed LIBERTY. It was modeled after an ancient Greco-Roman sculpture, the Crouching Venus. Thirteen six-pointed stars are around her head, and the date is below. The reverse shows the influence of Longacres training as a two-dimensional engraver. Based on the Great Seal of the United States, it has a heraldic eagle with wings spread and head facing left. A Union shield is on its breast, and it holds arrows in its left talons and an olive branch in its right, symbolizing preparedness and peace. Thirteen stars form an oval above the eagle amidst rays of Glory. The elaborate scroll on either side of it, added to symbolize the new denomination, is inscribed E PLURIBUS and UNUM. The legend UNITED STATES OF AMERICA is around the coin with the denomination written as TWENTY D. below.

The double eagle was produced because of the enormous quantity of gold that came into the Mint from California with the discovery of gold at Sutters Mill in January 1848. The California gold rush led to a huge influx of miners and others into the area. The vast amount of gold produced led to a need for a standard form of exchange. The double eagle was the governments response. They also felt that the new denomination would be useful for large commercial transactions and that it would facilitate foreign trade. Longacre was given the task of creating the new coin, and by the end of 1849 the obverse and reverse designs had been chosen. With some adjustments, the new coinage began in March of 1850.