The Liberty Head $20 Gold Coin in 1867 was the first full year that the motto IN GOD WE TRUST was located on the reverse of the coin. The 1867 Liberty Head $20 Gold Coin wasn’t the first United States coin to contain the famous motto, the connection is with the designer. The coin was designed in 1849 by James B. Longacre, the same individual who designed the 2 Cent coin, which in 1864 was the first to bear the motto IN GOD WE TRUST.
The 1866 $20 Gold Coins weigh 33.44 grams and contain 0.9613 ounces of gold. Additionally, they are 34 millimeters wide, which means their diameter is about midway between the widths of a modern-day half dollar and silver dollar. The double eagle’s heavy weight and large size make them appealing coins to numismatists and bullion investors alike.
If you are talking about a coin that was produced well over a century ago, you will most likely be talking about coins that have been quite heavily circulated. When it comes to the 1867 Liberty Head $20 Gold Coin, the cold, hard reality is that most of these pieces saw plenty of time on the open exchange market. For this reason, collectors are especially skeptical of the condition of these coins before they execute a purchase.
Normally, it is preferred to have coins this old sent away for grading, but that is not an option for everyone. Understanding this, we have provided below an outline of the popular coin grades as they relate to the Liberty Head $20 Gold Coin.
Uncirculated: If you have in your possession an Uncirculated Liberty Head $20 Gold Coin, this means that you are in possession of a coin that spent no time at all in circulation. Thanks to this, the coin’s imagery and texture will have been completely and entirely preserved and free from damage. As you might expect, Uncirculated coins are the most desirable in the eyes of collectors.
Extremely Fine: If a coin receives an Extremely Fine grade, this means that the piece in question has only been circulated for a very short period of time. These coins will appear to be pristine at first, but if you look closely at the coin, you will be able to notice some light but consistent scratching. Apart from that, however, these coins will be in very good condition.
Fine: A coin receiving this grade will be one that spent an extended period of time in circulation but did not incur an exorbitant amount of damage during that time. The surfaces of these coins will have been smoothed to some extent thanks to the changing of hands, but all imagery and inscriptions will still be able to be made out.
Good: This is the lowest grade a coin can receive and is typically indicative of a coin that spent its entire life in circulation and was just recently taken out. Thanks to their extended stay in circulation, these coins will have incurred a lot of damage, some of which may have compromised the imagery/inscriptions on the coin’s faces.
Determining a price for the Liberty Head $20 Gold Coin is not such a difficult task so long as you take two factors into consideration. First, because there were multiple types of these coins minted every year, the exact type you own and its related scarcity will undoubtedly play into the coin’s asking price. Secondly, the coin’s condition will play a direct role in laying out how much you might be asked to pay. Below is a chart aimed at giving you a better idea of what you can expect to pay for a Liberty Head $20 Gold Coin given its type and condition.
Liberty Head $20 Gold Coin
|1867 Liberty Head $20 Gold Coin||N/A||N/A||$1,725||$1,850|
|1867 Liberty Head $20 Gold Coin (S)||N/A||N/A||$1,725||$2,250||Source: Red Book|