The sheer size of the California gold strike altered the nature of American numismatics. It was not only that mintage figures dramatically increased; the actual range of denominations increased as well.  Prior to 1849, there had been three gold coins: the quarter eagle, half eagle, and eagle (or $2.50, $5.00, and $10.00 coins). By 1854, three more had been added, a dollar, a three-dollar piece, and a double eagle, or twenty-dollar coin.

Artist James Barton Longacre designed all three of the new coins. The double eagle was the most popular...