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    1878 Liberty Head $20 Gold Coin

    The Liberty Head $20 Gold Coins produced large numbers in 1878 and a large number of these coins survive today. The San Francisco mint produced the majority of those coins, which is not surprising given the West’s role in gold mining. That’s also the region that saw the most use of gold coins in circulation. Keep in mind, $20 was a lot of money in the 1800’s hence, Liberty Head $20 Gold Coins didn’t see much general usage as compared to smaller denominations.

    Thanks to the age of these coins, however, there is no guarantee that the coin you purchase will be excellent condition. Because collectors only want coins that have been well-preserved over the years, finding excellent coins is never an easy task.

    Grading the 1878 Liberty Head $20 Gold Coin

    Whenever a collector considers the purchase of a coin that is more than 100 years old, the first thing he or she will do is carefully analyze the surfaces of the coin. This close analysis is necessary because it is the only way one can find out just what type of condition the coin is in. Because these coins are so old, it is impossible to guarantee the condition.

    Under normal circumstances, a Liberty Head $20 Gold Coin that is having its condition questioned will be sent away for grading at the hands of a professional organization. Understanding that not everyone has the time and money to send their coins away for grading, we have provided below an outline of the different popular coin grades as well as their associated characteristics.

    Uncirculated: Coins that are assigned a grade of uncirculated appear to be fresh from the presses. Even with their advancing age, coins in uncirculated condition will appear shiny and new. Although the coin may have a slight difference in color due to age, all of the coin’s imagery, text and other details remain fully intact and unscathed. You can very easily use a magnifying glass to inspect your coins. By looking at the coin’s details for any scratches or imperfections, you can see if the coin has been handled or exposed to wear and tear. Signs of wear might include scratches or surfaces appearing worn down.

    Extremely Fine: Coins given a grade of extremely fine are in near-new condition. While not quite as good as uncirculated, coins in extremely fine condition may have only very minor surface wear or other imperfections present. Certain coin details, may be slightly worn down. Other areas of the coin may also feel like they have eroded over the years, and may have less overall texture. Despite these very minor imperfections, coins in this condition are highly sought after and visually appealing.

    Fine: While the text or imagery on a coin graded fine is still easily discernible, the coin may have some easy-to-see damage or wear. The coin’s imagery may be worn down or scratched and the coin’s color may appear slightly different or faded.

    Good: Coins in good condition have some significant wear and tear that is quite visible to the naked eye. Sometimes, damage to the coin’s surfaces is so bad that a magnifying glass may be necessary to discern the coin’s imagery, text and other details. While worn down or damaged, coins in good condition can still be extremely valuable if they are scarce or difficult to obtain.

    Pricing the 1878 Liberty Head $20 Gold Coin

    Determining a price for the Liberty Head $20 Gold Coin is as easy as taking into consideration a few different factors. For one, because there were multiple types of these coins minted every year, the scarcity associated with the exact type of Gold Coin you own will play into the asking price. Secondly, because collectors care so much about condition it only follows that the condition of the coin will also play into the asking price. Below is a chart aimed at giving you a better idea of what you might be asked to pay for an 1878 Liberty Head $20 Gold Coin given its condition and type.

    Liberty Head $20 Gold Coin

    DATE GOOD FINE EXTREMELY FINE UNCIRCULATED
    1878 Liberty Head $20 Gold Coin N/A N/A $1,500 $1,575
    1878 Liberty Head $20 Gold Coin (CC) N/A N/A $5,000 $9,500
    1878 Liberty Head $20 Gold Coin (S) N/A N/A $1,500 $1,575
    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.