1850-O GOLD $20 LIBERTY
PCGS AU53 - BEAUTIFUL1850 was the first year of circulated issues of the $20 Double Eagle. In 1849 only two patterns were struck with that date in Philadelphia. There were 141,000 pieces struck in New Orleans that first year, and many were probably set aside, as curiosities and keepsakes. Bankers especially liked the twenty dollar gold piece as it could be used to store large quantities of money in a relatively small space.
In 1850 the Gold Rush was in full swing, President Zachary Taylor dies in office (July 9) and is succeeded by his vice president, Millard Fillmore. California became the 31st state of the United States of America, The Compromise of 1850 was passed. It admitted California to the Union as a free state but failed to abolish slavery in new territories acquired from Mexico. Tension between the states increased. Both Los Angeles and San Francisco become cities.
Today, virtually the entire known population of 1850-O Double Eagles grades VF or EF and strictly graded AU's are quite rare. The 1850-O double eagle is a very popular issue as the first Double Eagle produced at a branch mint.