The 1862 Liberty Head $20 Gold Coin is one of the more scarce among all $20 Gold Coins, with less than 1 million being produced. Still, they are not overly expensive for typical gold coin collectors and can be found with a bit of dedicated searching.
What makes the Liberty Head $20 Gold Coin a favorite for investors and collectors, is the heavy weight and large size. The history behind these coins, directly linked to the discovery of gold during the Gold Rush, adds an even greater allure to these classic American coins.
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 collectors, any coin that is well over 100 years in age will immediately be under scrutiny simply due to the fact that it has had ample time to become worn and damaged. For this reason, you will see collector after collector closely analyzing every aspect of a coin in order to find even the smallest flaws on the surfaces of the coin.
While collectors do love pouring over the surfaces of coins in search of flaws, this is something best left to the professionals. Understanding that not everyone has the time and money available to have a coin of theirs graded, we have provided an outline below of the different characteristics of the different coin grades.
Uncirculated: A coin that is graded as being Uncirculated is one that never spent any time exchanging hands on the open market. These coins will have been extremely well-preserved and will appear as though they were minted none too long ago. For collectors, these are the most desirable pieces, but also some of the most expensive.
Extremely Fine: A coin receiving an Extremely Fine grade is one that spent only a very short period of time being circulated. These coins may have some light scratching, but other than that they will appear to be in excellent condition. All in all, collectors still jump at the opportunity to get their hands on a piece like this.
Fine: Fine is the coin grade reserved for pieces that were in circulation for an extended period of time. These coins will have plenty of light scratching and other small imperfections, but will overall still be in pretty decent shape. Collectors love this grade because the coins are still in good shape and are more affordable.
Good: A coin receiving of a Good grade is one that has seen better days. These coins will be very heavily damaged and will have had their surface almost completely smoothed thanks to the changing of hands over the years. These are the most inexpensive coins on the market more often than not, but they are not necessarily the first choice for collectors.
When it comes to determining a price point for the Liberty Head $20 Gold Coin, there are two main factors that you must take into consideration. First, the condition of the coin is the number one concern for most collectors, so it goes without saying that those coins that have been preserved are going to sell for higher prices than those coins that haven’t been. Secondly, because there were multiple types of Liberty Head $20 Gold Coins produced every year, the exact type will play into the asking price. Below exists a chart that aims at giving you a better idea of what you might expect to pay for a Liberty Head $20 Gold Coin given its condition and type.
Liberty Head $20 Gold Coin
|1862 Liberty Head $20 Gold Coin||N/A||N/A||$5,750||$12,000|
|1862 Liberty Head $20 Gold Coin (S)||N/A||N/A||$2,250||$3,200||Source: Red Book|