The value of the Double Eagle Coin changes rapidly depending on the current price of gold. The American double eagles were first issued on 1877 marking one of the more important eras in the history of the United States. It was minted due to the abundance of gold that was being produced and found in California and other surrounding states. The average $10 coin was expanded to a $20 gold coin which was the reason why it was known with the name of a double eagle. The coins weighed around .9675 ounce with a 90% gold content. Today, the price of a gold double eagle is about $1,850 or lower depending on the price of gold for the day.
During the period of the famous California Gold Rush, the largest gold coin to be issued by the United States Mint was the $10 coin. But with the significant increase in the amount of gold that was being found each day in California, the mint was authorized to produce a larger coin bearing a face value of $20. It was done to accommodate the rising gold production and the coin was subsequently dubbed as a double eagle. The ten-dollar coin was approximately weighs only about half an ounce whereas the newer $20 coin weighs an ounce. Although the production was approved by the Congress on 1849, the actual minting only occurred in 1877.
During this period, more than a million ounces of gold were produced which allowed for the production of these larger coins. They are what you may call the physical evidence of the wealth of the United States during that period. They are in a way a sign of the abundance that was characteristic of that particular American period. Back then, the double eagle already represented the large value of the coin which can be seen with the current prices of commodities during the early 19th century. A stay at fine hotel in the city would cost you about a dollar and a half whereas a good meal at a fine-dining restaurant would amount to about seventy cents. So with a twenty-dollar coin you can definitely live the life of a rock star during that period. But, that is not taking into account the worth or value of the gold content now. So if you are going to spend your double eagle gold coin, it would definitely cost you a lot more than what it did during that period. With the current price of gold per ounce, you will definitely have a lot to spend.
If the coin represents a lot of money due to their gold content, they also represent a good historical worth as well. Being a representation of that period in American history where gold was produced in large amounts daily, having one of them will be a good reminder of that period. Buying them will be a good way of having a significant part of history in your hands which you can give to your children and your grandchildren. So apart from the value of the gold itself, you also get a good historical investment to give to your loved ones.