1868 $20 (1868 Double Eagle) NGC AU58 CAC. Type 2 Double Eagle. A full strike and lots of remaining mint luster characterize this 1868 Double Eagle. The sharpness of the strike on the coins centers allows one to appreciate the beauty of Longacres design. The lines of hair above the eye, on the top of the head, and above the ear show sufficient separation to warrant the grade, which is confirmed by the CAC sticker. It also indicates that the coin is premium quality piece. The coin has minimum contact marks for the grade.

James Barton Longacre designed the pattern for the twenty dollar coin in 1849. It was produced because of the huge amount of gold that came into the Mint from California. With the discovery of gold at Sutters Mill in January 1848, the California gold rush began. It led to an influx of miners and others into the area. The vast quantity of gold produced led to a need for a standard form of exchange. The double eagle was the governments response. They also felt that it would be useful for large commercial transactions and that it would facilitate foreign trade.
Longacres design shows a Liberty head facing left wearing coronet inscribed LIBERTY. Her hair is tightly tied in the back with two loose curls hanging down her neck to the end of the truncation. She is surrounded by thirteen six pointed stars with the date below. Dentils are near the edge on both sides of the coin. The reverse shows a heraldic eagle with elaborate ribbons on both sides of the shield extending from the top corner down to the eagles tail feathers. The ribbons are inscribed, on the left E PLURIBUS and UNUM on the right. The ribbons were added to the design to symbolize the denomination since this was the first double eagle coin. There is an oval of thirteen stars above the eagles head and an arc of rays from wing tip to wing tip behind the upper half of the oval. UNITED STATES OF AMERICA is in an arc above the eagle, and the denomination TWENTY D. is below.
The motto IN GOD WE TRUST was added to the original by enlarging the oval of stars above the eagles head and placing the motto in it. This modification did not require a major alteration of the design as was the case with adding the motto to the lower denominations. It was made at the behest of Salmon P. Chase, Secretary of Treasury and Congress because of pressure brought about by the Reverend M.R. Watkinson of Ridleyville, Pennsylvania.
With an original mintage of 98,575 the 1868 double eagle is rare in all conditions. In its population report, NGC shows 46 in AU58 with 8 better. At CAC there are 3 in AU58 with 2 better. These population report numbers reveal the scarcity of this coin. It will most likely rapidly increase in value with additional interest in the series.