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    1871 Liberty Head $20 Gold Coin

    For the second year in a row, the 1871 Liberty Head $20 Gold Coin was minted in three locations, Philadelphia, Carson City, and San Francisco, with the mint by the bay handling most of the production that year. Carson City $20 gold coins are, the rarest. Most of the gold-producing mints were located in the West as that is where the bulk of gold was being mined. Also, gold coins tended to circulate far better in that region than back east.

    Unfortunately, collecting the 1871 Liberty Head $20 Gold Coin becomes a bit difficult due to three different varieties of the coin minted. This means that collectors not only need to establish which type of coin they want to acquire, and then the condition they would prefer it to be in. Because these coins are so old and were so popular to use for day-to-day purchases, finding one of them in excellent condition is a bit of a challenge.

    Grading the 1871 Liberty Head $20 Gold Coin

    When you are talking about coins that are more than a century old, collectors are always wary because it is difficult to trust the condition. These coins have often been circulated for years on end and have been subjected to unforeseen amounts of damage. This is why any collector who is thinking about purchasing one of these coins will do everything in their power to guarantee its condition.

    Normally, the process of judging a coin’s condition is left to the professionals. Understanding that this costly process is not able to be completed by everyone, we have provided below an outline of the characteristics of the different popular coin grades.

    Uncirculated: If a coin receives this grade, it means that the piece in question was never introduced to the open market. Instead of being exchanged and incurring all sorts of damage, these pieces were kept under lock and key and away from anything that might do them harm. For collectors, these are not only the most desirable pieces, but some of the most expensive as well.

    Extremely Fine: If a coin is graded as being Extremely Fine, this means that it was circulated for a very short period of time. You will be able to notice some light scratching and other minuscule signs of wear, but the coin will overall appear to be in great condition. These too are a great addition to any collection.

    Fine: Fine is more of a middle of the road grade reserved for coins that were circulated for an extended period of time but somehow managed to avoid becoming overly damaged. From light smoothing of the surfaces to consistent scratching, the wear present on the faces of these coins will not be very difficult to make out.

    Good: In Good condition, the coin you are looking at is one that has seen its better days. Heavy damage will be present on just about every aspect of the coin and the surfaces will be smooth. All in all, though not the most attractive pieces, Liberty Head $20 Gold Coins are often some of the most inexpensive.

    Pricing the 1871 Liberty Head $20 Gold Coin

    For a coin like the Liberty Head $20 Gold Coin, determining a price is no more difficult than assessing a few of the coin’s characteristics. For one, the fact that multiple types of these coins were minted every year means that the type of coin you own will play directly into the asking price. Secondly, as is always the case, the coin’s condition will also affect how much it is going to be sold for. Below is a chart that aims to help give you a better understanding of just how much you might be asked to pay for a 1871 Liberty Head $20 Gold Coin given its condition and type.

    Liberty Head $20 Gold Coin

    DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
    1871 Liberty Head $20 Gold Coin N/A N/A $1,725 $2,500
    1871 Liberty Head $20 Gold Coin (CC) N/A N/A $23,500 $48,500
    1871 Liberty Head $20 Gold Coin (S) N/A N/A $1,650 $1,700
    Source: Red Book

    All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.