The Liberty Head $20 gold coin, also known as the double eagle coin, holds a significant place in American numismatic history. Minted from 1849 to 1907, this coin was introduced during the California Gold Rush, which saw an influx of gold and led to the creation of large denomination coins. This article explores the history, design, and value of the Liberty Head $20 gold coin, providing a comprehensive overview of its importance and rarity.
History of the Liberty Head $20 Gold Coin
The Birth of the Double Eagle
The Liberty Head $20 gold coin was introduced in 1849, marking the debut of the $20 gold denomination in the United States. The coin was created to accommodate the large amounts of gold discovered during the California Gold Rush. The initial release in 1850 featured the face value “TWENTY D” and aimed to simplify the conversion of gold bullion into coins.
Design and Minting
Designed by James B. Longacre, the Liberty Head $20 gold coin showcases Lady Liberty on the obverse (front) with a coronet inscribed with the word “LIBERTY” and her hair styled and pulled back. The reverse (back) features a heraldic eagle with rays of sunlight and a band of stars.
The Liberty Head $20 gold coin was minted from 1849 until 1907. There are three main types of this coin, each with distinct features:
| Type | Years Minted | Features |
|---|---|---|
| Type 1 | 1849-1866 | Lacks the motto “In God We Trust” |
| Type 2 | 1866-1876 | Includes the motto “In God We Trust” |
| Type 3 | 1877-1907 | Includes “TWENTY DOLLARS” and the motto |
Historical Facts and Significance
International Use and the San Francisco Mint
The Liberty Head $20 gold coin was extensively used in international transactions, as many foreign governments preferred gold coins over paper money. The San Francisco Mint, established in 1854, played a crucial role in minting these coins safely, reducing the risks associated with transporting raw gold.
The End of an Era
In the early 1900s, President Theodore Roosevelt commissioned Augustus Saint-Gaudens to design a new series of coins. This led to the introduction of the Walking Liberty Gold Eagle, which replaced the Liberty Head $20 gold coin.
The Discovery of the S.S. Central America Shipwreck
In 1989, the S.S. Central America shipwreck was discovered off the coast of North Carolina. The ship, which sank in 1857, was carrying thousands of Liberty Head $20 gold coins. The recovery of these coins was a significant event for numismatists, as they were found in excellent condition despite the shipwreck.
Design Variations
Types of Liberty Head $20 Gold Coins
The Liberty Head $20 gold coin is categorized into three main types, each with its own design features:
| Type | Years Minted | Reverse Features |
|---|---|---|
| Type 1 | 1849-1866 | No motto; simple eagle design |
| Type 2 | 1866-1876 | Includes “In God We Trust” on the reverse |
| Type 3 | 1877-1907 | Full inscription “TWENTY DOLLARS” and the motto |
These types include various strike finishes, such as regular strike, proof, and special strike, which contribute to their collectible value.
Mintmarks and Value
Mintmarks
Liberty Head $20 gold coins were minted at several locations, each identified by a different mintmark:
| Mint Location | Mintmark | Description |
|---|---|---|
| Philadelphia | None | No mintmark |
| San Francisco | S | “S” for San Francisco |
| New Orleans | O | “O” for New Orleans |
| Carson City | CC | “CC” for Carson City |
| Denver | D | “D” for Denver |
The mintmark can affect the coin’s value, with some mintmarks being rarer and more valuable than others.
Valuation
Despite large production numbers, certain Liberty Head $20 gold coins are highly sought after due to their rarity. Notable rare coins include:
- New Orleans Mint (1854, 1856): Highly rare.
- Carson City Mint (1870): Extremely rare.
- Philadelphia Mint (1883, 1884): Low mintages, proof finish only.
- 1861 Paquet Reverse: Noted for design changes and rarity.
Conclusion
The Liberty Head $20 gold coin is a testament to a significant period in American history. From its introduction during the California Gold Rush to its role in international transactions and its eventual replacement, this coin has left a lasting legacy. Its rarity, especially in certain mintmarks and design types, makes it a prized item for collectors and a valuable piece of American numismatic heritage.
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FAQ’s
What is the Liberty Head $20 gold coin?
The Liberty Head $20 gold coin, also known as the double eagle coin, is a large denomination gold coin minted in the United States from 1849 to 1907. It was introduced during the California Gold Rush to accommodate the significant amounts of gold being mined. Designed by James B. Longacre, it features Lady Liberty on the front and a heraldic eagle on the back.
How can I determine the value of a Liberty Head $20 gold coin?
The value of a Liberty Head $20 gold coin depends on several factors including its mintmark, design type, year of minting, and condition. Coins from certain mints, such as New Orleans or Carson City, are rarer and more valuable. Additionally, coins with lower mintages or unique design variations, like the 1861 Paquet reverse, can be worth significantly more. Professional appraisal and current market trends can help in determining its exact value.
