Market Analyst’s Guide to Acquiring 1968-Era $20 Double Eagles: Avoiding Pitfalls in the Gold Rush Revival
February 7, 20261968 Double Eagles: When Gold Hoarders Drove Prices Beyond Melt Value
February 7, 2026
You might be holding gold without realizing it. As a veteran roll hunter who’s unearthed treasures in everything from dusty estate boxes to bank-wrapped rolls, I can attest that 1968 Double Eagles still surface in the most unexpected places. Let me share the secrets to spotting these golden rarities in circulation.
Historical Significance of 1968 Gold Double Eagles
The year 1968 ignited gold fever among collectors and investors alike. As evidenced by this New York Times article from March 3, 1968, the market reached a fever pitch for $20 Double Eagles:
“Buyers/hoarders were willing to pay way above market prices… DEs that normally sold for $50 were selling for $82 at Stacks, with other dealers reporting sales at just under $100.”
Three explosive factors converged to create this perfect collecting storm:
- International gold chaos as the London Gold Pool collapsed
- Legal gray areas around private gold ownership under outdated laws
- Mainstream accessibility through retailers like Gimbel’s
- Surreal disconnect between $20 face value and $100 market reality
The Human Stories Behind the Gold
Forum member @CaptHenway shares a bittersweet memory:
“I bought a BU $20 from downtown Detroit dealer Earl Schill for $50 in May of 1966. Unfortunately I had to sell it a few years later to pay college tuition.”
These personal journeys reveal how Double Eagles served dual purposes – cherished collectibles with numismatic value, yet liquid assets during financial emergencies. This duality explains why so many slipped into circulation during economic turmoil.
Identifying Key Markers in Roll Hunting
When combing through bulk lots, train your eyes on these diagnostic features that separate ordinary coins from rare varieties:
Date Ranges That Matter
- Pre-1933 Saints: The holy grail with exceptional numismatic value
- 1960s-era restrikes: Often show sharper strikes than worn originals
- Counterstamped pieces: Some bear intriguing provenance marks like “Earl Schill”
Metal Composition & Weight
- 90% gold purity gives these coins their distinctive warm patina
- 33.6mm diameter – you’ll feel the heft immediately in hand
- Specific gravity of 17.78 g/cm³ (test suspicious coins with Fisch scale)
Surface Indicators
- Seek out the mesmerizing “cartwheel luster” under angled light
- Examine reeding edges for authentic wear patterns
- Spot cleaned coins by unnatural brilliance in protected areas
Value Guide: Then vs. Now
| Year | Dealer Price | 2024 Value (BU) | Growth Multiple |
|---|---|---|---|
| 1966 | $50 (@EarlSchill) | $2,200+ | 44x |
| 1968 | $75 (Gimbel’s) | $2,200+ | 29x |
| 1968 Peak | $100 (Stacks) | $2,200+ | 22x |
While @jmlanzaf correctly notes “$100 in 1968 S&P would be $37,000 today,” Double Eagles offer something stocks never can – tangible history with extraordinary collectibility that transcends mere metal content.
Proven Hunting Grounds
Estate Sale Strategies
- Focus on homes of Depression-era savers or pre-1970s executives
- Search for Gimbel’s receipts tucked in old ledgers or diaries
- Inspect jewelry boxes for coin-sized indentations in velvet linings
Bank Roll Tactics
- Special order half-dollar boxes – the preferred hiding place
- Feel for weight discrepancies that shout “gold inside!”
- Listen for that heart-stopping “golden ping” when shaking rolls
Bulk Lot Red Flags
- “Unsearched collection” listings with suspiciously blurred photos
- Descriptions mentioning “aigle double” (French for eagle) or “oro” (Spanish gold)
- Bags from Northeast estate liquidators near historic mint cities
The Legal Landscape Then & Now
Contrary to popular myth, owning these gold pieces wasn’t illegal even at the height of restrictions:
“Holding the coins was NOT illegal based on the 1934 and 1954 law changes.”
Today’s treasure hunters should remember:
- All pre-1933 Saints remain legal to own and trade
- Document provenance like original Stacks envelopes for maximum value
- Coins in mint condition with original luster command the highest premiums
Conclusion: Why the Hunt Continues
Finding a Double Eagle today isn’t just about the $2,000+ numismatic value – it’s about holding a piece of living history. As @GoldFinger1969 reflected on Detroit’s 1960s gold rush, these coins capture moments of economic turmoil and personal courage in 33.6mm of timeless beauty.
With perhaps 1% of all Double Eagles still hiding in rolls and estates, your next box search could yield that heart-pounding moment when golden luster winks back at you. Remember – no stock certificate ever gave collectors that thrill! Happy hunting!
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