$20 Liberty Head

The $20 Liberty Head, or Double Eagle, was the cornerstone US coin from 1850 to 1907. Their classic American designs and substantial gold weight (.9675 oz.) make them a top choice for gold investors looking to add leverage to their gold bullion position without paying exorbitant premiums over the coin's gold weight.

This section features $20 Liberties in Investment-Grade, Mint State-62 to MS-65 quality certified by either PCGS or NGC, the top two independent grading companies. We also list our top pick for low-cost, lightly circulated $20 Liberties that aren’t certified. In this market segment, dates are not specified - the focus is on the best quality for the best price. For advice on what may be best for you, just call an Austin Rare Coins Pre-1933 US Coin Advisor at 1-800-928-6468.

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The $20 Liberty is also known as a “Double-Eagle” indicating that it’s twice the size of its $10 counterpart long nicknamed an “Eagle”. Weighing nearly one ounce of gold, the $20 Double Eagle Liberty was the cornerstone of U.S. Gold Coinage from 1850 until 1907.

Naturally, as coins circulated, they wore down and were eventually pulled out of the money supply to be melted and made into new coins creating a naturally diminishing supply of $20 Liberties and its smaller counterparts. The Government confiscation and meltdowns during the Great Depression reduced this supply even further leaving a truly fixed and limited supply of Pre-1933 U.S. Gold Coins far smaller than the large and unlimited supply of Modern Bullion Gold Coins. This is a key factor in the extra profit-potential this segment of the gold market.

To maximize this potential, it’s wise to own $20 Liberties that are the least available which, for 100+ year-old coins that were used as money, means those that have survived in high quality – not just barely uncirculated, but exceptional uncirculated quality or “Investment-Grade”.

Obviously, the higher the quality of $20 Liberty Head coins, the higher the value, making it critical that their condition is verified by trusted, independent experts and not the dealer that you have chosen. Therefore, reputable dealers rely on PCGS (the Professional Coin Grading Service) and NGC (the Numismatic Guaranty Corporation), the two companies with decades of experience authenticating and grading coins.

You can be assured that you own accurately graded, highly liquid coins when they are sealed in the familiar rectangular PCGS or NGC “slabs” along with their grading certificate as you see pictured above. You’ll often here such coins referred to as “slabbed” or “certified” as compared to their “raw” or “uncertified” counterparts that have not been graded and are generally in lower, circulated quality.

Investment-Grade refers to coins graded from 63 to 66 on the numerical scale employed by the grading companies that ranges from a nearly unrecognizable “1” to a perfect “70”. Uncirculated quality is 60 and up and called “Mint State” (MS), thus Investment-Grades are MS-63 to MS-66.

Obviously, coins of such pristine quality are naturally more rare than lower-grade, circulated examples. The smaller supply of Investment-Grade $20 Liberties, combined with reasonable prices, allows more investors to apply the advantages of rarity without the advanced knowledge and expense of truly rare coins.

That’s why you don’t see specific, early dates like 1865, or specific Mints like Philadelphia or San Francisco listed here. For Investment-Grade $20 Liberties, the key is high-grade and an attractive price. As with all denominations, a few $20 Liberty dates have similar supplies and, therefore, trade for the same value for the given grade. We complete these acquisitions with those dates which, for $20 Liberties, will be from the early 1900’s, often 1904.

Have some general questions or want to learn more about $20 Liberties & Pre-1933 U.S. Gold, but prefer to talk to a person? Our Gold & Silver Advisor offer a no-pressure focus on advice, education, and guidance on all things precious metals. Please call us for help at 1-800-928-6468.


>Understanding Grading & Certification: Anatomy of a Certified Coin

>Want to learn more about the Investment-Grade Gold Coin Market?:Tier II: Investment-Grade Pre-1933 U.S. Gold Coins

>Want to learn more about our Multi-Tier Gold & Silver Portfolio?: How to Build a Balanced, Diversified Portfolio