Auction Highlights
A rare $20 "double eagle" gold coin, minted in in 1870, sold for $1.44 million at Stack's Bowers Galleries in . This coin is one of only 3,789 produced, with an estimated 40 to 50 still in existence.
The coin, part of the collection and considered the finest of its type by the , was last sold for $23,100 in 1986. Its sale price reflects a significant appreciation in value over time.
Market Trends and Historical Context
The $20 double eagle coin was authorized after the , increasing gold coin denominations from $10 to $20 due to the abundant gold supply.
The surge in collector's coin values, particularly during the , has turned hobbies into investments for many. The gold content of the coin is valued at approximately $2,600, but its rarity and historical significance drive its market value.