The 1878 Liberty Head $2.50 Gold Coins were once again minted in the Philadelphia and San Francisco mints. Thousands of Liberty Head $2.50 Gold Coins were made that year, (464,000+) – an astounding figure given the relatively tiny mintages seen during the previous few years within the Liberty Head $2.50 Gold Coin series. However, as with past Liberty Head $2.50 Gold Coins, the actual amount that survive today, is much, much lower than the high mintage suggests. This is a common situation for pre-1933 U.S. coins, which were melted in large numbers during the 20th century.
When it comes to collecting these coins, collectors always look for the coins that have been preserved through the years. Unfortunately, because these coins are well over 100 years old they are increasingly difficult to find in great condition.
For any coin that has been around for over a century, you will have to carefully consider the coin’s overall condition. While some coins in poor condition may still be highly valued, it is usually only coins that are in excellent condition that are pursued by coin collectors. Finding coins in this condition can prove to be quite difficult, however, as they have been around so long.
When you are examining a coin, you are trying to determine the coin’s grade. While a coin’s actual grade must be assigned by a professionally recognized grading company, you can use the guide below to get a good idea of how your coin may be graded.
Uncirculated: Coins in this condition are the ones that collectors are most often trying to obtain. These coins have never been used in everyday circulation, and have maintained a near-perfect condition. Looking at these coins, they will appear to be brand new, as if they were just struck today.
Extremely Fine: Coins that are given a grade of extremely fine may also be highly coveted by coin collectors. These coins will, however, exhibit some minor wear and tear or damage. These coins will appear at a glance to be in pristine condition, although under closer examination you may seem slight scratches or damage.
Fine: Most coins given a grade of fine have been heavily circulated for some time. These coins will likely have surface scratches, although the coin’s imagery and details will remain fully intact.
Good: The majority of Liberty Head $2.50 Gold Coins on the open market today are considered to be in good condition. These coins have been used for decades, and they will clearly show some signs of use and damage. Collectors will often stay away from coins in this condition, although they may still be valuable based on their type and mintage.
To give the 1878 Liberty Head $2.50 Gold Coin an accurate price, you must first look at its type. Two different types of this gold coin were produced in 1878, so the type of the coin will be first thing playing into how much you are going to pay. Secondly, the condition means everything to most collectors. Those coins that are better preserved often sell for much more than those that aren’t. The chart below will help you gain a good idea as to how much you might be paying for a 1878 Liberty Head $2.50 Gold Coin given its grade and type.
Liberty Head $2.5 Gold Coin
|1878 Liberty Head $2.5 Gold Coin||N/A||N/A||$365||$375|
|1878 Liberty Head $2.5 Gold Coin (S)||N/A||N/A||$365||$375||Source: Red Book|