1904 Double Eagle - 1904 $20 PCGS MS66. Beautiful gem Type 3 Double Eagle. This Superb Gem 1904 Double Eagle has all of the characteristics one would expect of a piece in this lofty condition. The surfaces are pristine with no visible abrasion marks or other distractions. The strike is strong with full details on the centers of the stars, Libertys hair, and the design elements of the reverse, especially the eagle. The lustrous surfaces are filled with a rich golden yellow color that shows the coins originality. The mint luster is unbroken and superbly glowing on this outstanding piece.

The piece is a Type 3 double eagle. Type 1 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 twenty dollar 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 mintmark is between the tail feathers and the N of TWENTY.

The motto IN GOD WE TRUST was added to the original double eagle 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.

The design change that brought about the Type 3 double eagle was the denomination. It went from TWENTY D. to TWENTY DOLLARS.  Like the addition of the motto to the reverse of the previous double eagle, it did not cause any major change in the rest of the coins design. William Barber who by then was the Engraver following Longacres death in 1869 made the modification. Later, his son Charles further modified the reverse of the double eagle by smoothing the back of the eagles neck. Many of the twentieth century double eagle coins have the new reverse, but some were made from left over hubs and have the 1899 reverse.

This piece belongs to a group of coins that are tied for the second finest known at PCGS and NGC. Only 3 have been graded finer than this 1904 double eagle at both grading services.