The 1860 Liberty Head $20 Gold Coins were made in huge numbers, estimating about 1 million pieces produced off the U.S. Mint’s presses that year. Almost an equal share was made at the Philadelphia and San Francisco mints, with a small number coming from the New Orleans mint.
As is the case with practically all pre-1933 U.S. gold coins, it is be noted that 1860 Liberty Head $20 Gold Coins are much rarer than the mintage figures would suggest. This is especially true for the 1860-O Liberty Head $20 Gold Coin, which already saw a tiny production figure to begin with. Add in the fact that many coins were melted and few were preserved – the 1860-O Liberty Head $20 Gold Coin, undeniably, becomes a very rare coin.
For coins that are well over a century old, collectors are always going to first concern themselves with the condition the coin is in. You will see that a collector will immediately take into consideration every little imperfection. This is especially true because, due to the age of these coins, they have had ample opportunity to become damaged.
For most people, the best way to have a coin’s condition judged is to send it away to a professional company. This is a great option, but not everyone can afford to send their coins away for grading. Because of this, we have provided below a listing of popular coin grades as well as their related characteristics.
Uncirculated: A coin that is graded as being Uncirculated is one that was immediately put into safekeeping after being minted. Despite being more than 150 years old, these coins look as though they were just recently minted. Complete with a nice shine and a textured finish, these are some of the finest coins you will ever lay your eyes on.
Extremely Fine: Extremely Fine coins are in great condition overall, but upon closer inspection you will see that there are some small imperfections. Because of the limited amount of time these coins have spent in circulation, their imagery and texture will have been mostly preserved and the coin will be in great condition overall.
Fine: If a coin is graded as being Fine, this means that it spent a good amount of time in circulation and accrued a decent amount of damage during that time. The damage most often found will consist of light scratching and a chip or two, but apart from that the coins will be in decent shape. For collectors, these coins are an affordable option for adding to a collection.
Good: Good is the grade reserved for some of the lowest coins on the market today as far as condition is concerned. These coins will have plenty of damage and will, often times, be generally in pretty rough shape. For collectors, these are not the most desirable additions, but will be viewed as great once you take into consideration the low price point.
When it comes to pricing the Liberty Head $20 Gold Coin, there is only one way to do this and that is by taking into consideration a few different factors. For one, because there were multiple types of the coin produced every year, the exact type you own will play into the price. Beyond that, it is the condition the coin is in that will most heavily dictate price. Below is a chart aimed at giving you a better idea of what you might be asked to pay for a Liberty Head $20 Gold Coin given its condition and type.
Liberty Head $20 Gold Coin
|1860 Liberty Head $20 Gold Coin
|1860 Liberty Head $20 Gold Coin (O)
|1860 Liberty Head $20 Gold Coin (S)
|Source: Red Book