The 1856 Liberty Head $20 Gold Coin was minted in three types; 1856, 1856-O and 1856-S. More than 1.5 million Liberty Head $20 Gold Coins were minted in 1856, but most have since been melted down, making them truly scarce across the board.
The 1856-O is extraordinarily rare. The low mintage of 2,250 looks incredibly large as compared to the number of 1856-O $20 gold coins believed to exist today, a number that is estimated to be below 20 pieces. Surely, on the rare occasion that one of the few 1856-O double eagle coins comes to auction, bidding is quite spirited.
Old Liberty Head $20 Gold Coins have appeal for coin collectors and bullion investors on various levels. For one, they are large, heavy coins with a weight of 33.44 grams and a gold content of 0.9613 ounces, making them among the heaviest regularly circulating gold coins ever made in the United States.
For collectors, the coins that are most popular are those that have been kept in great condition through the entirety of their being circulated. This is naturally not a commonplace occurrence, so you will have collectors closely analyzing every facet of the coin in order to pick out even the smallest bits of imperfections.
For most, the most logical option is to have the coin sent away for grading at the hand of a professional company. Understanding that not everyone has the money and ability to send their coins away for grading, we have provided below a listing of the different popular coin grades and their associated characteristics.
Uncirculated: A coin that is graded as being Uncirculated is one that has spent absolutely no time whatsoever exchanging hands. These coins will have been perfectly preserved throughout the entirety of their existence and will show no signs of wear. Naturally, these are the types of coins collectors want more often than not.
Extremely Fine: A coin that is graded as being Extremely Fine is one that spent only a short period of time in circulation. These coins will have only a small amount of damage present on the faces, and it will be light in nature. All in all, these pieces are sought after by collectors of all types, but especially very serious collectors looking to add nice pieces to their collection.
Fine: If a coin is graded as being Fine, this means that it was in circulation for a period of time, but removed before too much damage could occur. All in all, you will notice that these coins are in decent shape, but are also host to some noticeable imperfections.
Good: A coin receives a grade of Good if it has been circulated for an extremely long period of time. During this time, the coin will have had ample opportunity to become heavily damaged. From chipping to scratching, and even bending, these coins will have definitely seen better days. Still a nice addition to any collection, these coins are definitely lacking from an aesthetics standpoint.
If you are trying to figure out how much you might be asked to pay for a 1856 Liberty Head $20 Gold Coin, look no further than the coin’s condition and type. Because multiple types of these coins were minted every year, the exact type of coin will undoubtedly play into the asking price. Secondly, because condition means everything to collectors, the condition of the coin will also play into the asking price. Below is a list of the different prices you might be asked to pay for a 1856 Liberty Head $20 Gold Coin given condition and type.
Liberty Head $20 Gold Coin
|1856 Liberty Head $20 Gold Coin||N/A||N/A||$2,250||$3,000|
|1856 Liberty Head $20 Gold Coin (O)||N/A||N/A||$275,000||$475,000|
|1856 Liberty Head $20 Gold Coin (S)||N/A||N/A||$2,250||$2,850||Source: Red Book|