Double Eagle
Overview
Gold coin
A gold coin is a coin made mostly or entirely of gold. Gold has been used for coins practically since the invention of coinage, originally because of gold's intrinsic value...
of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
with a denomination of $20. (Its gold content of 0.9675 troy
Troy weight
Troy weight is a system of units of mass customarily used for precious metals, gemstones, and black powder.There are 12 troy ounces per troy pound, rather than the 16 ounces per pound found in the more common avoirdupois system. The troy ounce is 480 grains, compared with the avoirdupois ounce,...
oz was worth $20 at the then official price of $20.67/oz). The coins are made from a 90% gold (0.900 fine = 21.6 kt) and 10% copper alloy.
Although the "eagle"-based nomenclature for gold U.S. coinage is often assumed to be a nickname, the "eagle," "half-eagle" and "quarter-eagle" were specifically given these names in the Act of Congress
Act of Congress
An Act of Congress is a statute enacted by government with a legislature named "Congress," such as the United States Congress or the Congress of the Philippines....
that originally authorized them ("An Act establishing a Mint, and regulating Coins of the United States", section 9, April 2, 1792).
