Inspired by the ancient Greek coinage he viewed while touring the Smithsonian Institute in 1905, President Theodore Roosevelt embarked on a campaign to cure the blandness of American coinage by commanding new designs for their entire range. Roosevelt wanted coins that could fully reflect America's status as what he considered the world's most powerful nation.

The president contacted Augustus Saint-Gaudens, an artist who had created Roosevelt's inaugural medallion, and asked him to design a new series of coins. Saint-Gaudens agreed to come up with coins similar to those of the ancient Greek coins, which had caught Roosevelt's eye.

Saint-Gaudens died before finishing his task, but his majestic Double Eagle $20 gold piece became the most famous of all his works. In a design based on Saint-Gaudens sculpture "Victory"' on the obverse, Liberty strides forward into the dawn. Her right hand holds up a torch while her left offers an olive branch. The Capitol building appears in the background, the top proclaims the word "LIBERTY," while stars circling the border represent the 46 states admitted to the Union as of 1907. The reverse depicts an American eagle in flight over the sun.