1849-1907 Liberty Head $20 Gold Coin

The first-ever $20 gold coin, also known as the double eagle coin, was the Liberty Head gold coin, first made in 1849 and struck until 1907. This large denomination of $20 gold coins was minted because of the incredible amounts of gold accumulated during the California Gold Rush. 

This was the first double eagle gold coin, and it was officially released in 1850 with the face value of “TWENTY D” printed on the obverse. Uniform with the smaller denominations of $10, $5, and $2.50 Liberty Head gold coins, Lady Liberty is pictured with a “LIBERTY” coronet, and her hair is half-pulled back behind her head. Thus the name of this coin, as designed by James B Longacre, was decided to be the Liberty Head $20 gold coin. Its gold content was 90% (.900) and it weighed about 30 grams, nearly 1 troy ounce. Very few of these gold double eagle coins survive today, which also makes this first-ever $20 gold coin program even more valuable. 

Historic Facts About The Liberty Head 20 Dollar Gold Coin

The Liberty Head $20 gold coin, or double eagle gold coin, was entirely designed by James B Longacre. Double eagle gold coins were made in order to easily convert gold bullion into coins, but this size was never previously made until the California Gold Rush. They were heavily utilized in international transactions, particularly when foreign governments were wary of paper money. Additionally, as a result of the gold rush, the San Francisco Mint was established in 1854. This proved to be a much safer way to develop the gold bullion into coins instead of transporting the raw materials unsafely cross-country. The official conclusion of this series came about from President Theodore Roosevelt, who commissioned a new design in the early 1900s. The Walking Liberty Gold Eagle coin to replace this program was designed by Augustus Saint-Gaudens.

Interestingly, in 1989, a team of scientists discovered the S.S. Central America shipwreck. Numismatists were especially excited about this discovery because thousands of 1857-S double eagle gold coins were recovered. This ship was subject to a hurricane off the coast of North Carolina in September 1857, where hundreds of lives were lost. Using a number of sophisticated techniques to recover the coins, the Liberty Head twenty-dollar gold coins were recovered and restored to pristine condition. 

Liberty Head 20 Dollar Gold Coin Design History

Although the Liberty Head Longacre illustration was used on multiple denominations, the reverse of this coin had a unique image not used on any other US Mint gold coin. This was based on the US heraldic eagle design, but the reverse motif contained ornaments on either side of the eagle and rays of sunlight behind the band of stars over the eagle’s head. 

Images from PCGS.com

Further design variations within the Liberty Head 20-dollar gold coin program were not significantly different from each other, but this coin still had some updates over time. Therefore, there are three main types of the Liberty Head 20-dollar gold coin. The Type 1 Liberty Head $20 gold coin was minted from 1849-1866 and it lacks the motto “In God We Trust” on the reverse. Therefore, Type 2 released in 1866 until 1876 had this motto and no other changes. The Type 3 Liberty Head gold coin, the final edition minted from 1877-1907, incorporated this motto in addition to a full spelling of “TWENTY DOLLARS” instead of the original “TWENTY D” face value. Regular strike, proof, and special strike coins can be found only for the Type 1 and Type 3 designs at this time.

Where is the Mintmark on the Liberty Head $20 Gold Coin?

These double eagle gold coins were struck at the Philadelphia, San Francisco, Carson City, Denver, and New Orleans Mints in varying quantities. Philadelphia Mint coins do not feature a mintmark, but you might find an “S”, “O”, “CC”, or “D” on the reverse of the Liberty Head $20 gold coin above the face value. The “S” stands for San Francisco, and the “O” signifies the New Orleans Mint. Please note, that double eagle gold coins may vary in value depending on mintmark, design type, year, and condition. 

What is the Value of a Liberty Head $20 Gold Coin?

Although double eagles were made in large amounts from 1850 onward, especially with the establishment of the San Francisco Mint in 1854, there are still scarce and rare dates. For example, the New Orleans 1854 and 1856 are highly rare. Other rare dates Liberty Head gold coins include the 1870 Carson City coin and the 1879 New Orleans coins. The 1883 and 1884 Philadelphia Mint gold coins were made only in the proof finish, and with low mintages of 92 and 71 respectively.  Many other issues are exceedingly difficult to locate, especially the 1861 Paquet reverse. The reason for this is that there were slight alterations made by Anthony C Paquet that year only. These changes consisted of a font change for the “O” in “OF AMERICA” and the “D” for the face value, in addition to removing the overlap of the band of stars and solar rays on the reverse. 

Liberty Head - Twenty D - No Motto (1849-1866)

$20 Liberty Head Gold Double Eagle Value: At least $2,000 USD depending on the coin

Designer - Engraver: James B Longacre Metal Composition: 90% Gold - 10% Copper

Diameter: 34 mm Mass / Weight: 33.44 grams

 

Liberty Head - Twenty D - With Motto (1866-1876)

(With Motto) Liberty Head Gold Double Eagle Value: At least $2,000 USD depending on the coin

Designer - Engraver: James B Longacre Metal Composition: 90% Gold - 10% Copper

Diameter: 34 mm Mass / Weight: 33.44 grams

Liberty Head - Twenty Dollars (1877-1907)

Liberty Head Gold Double Eagle Value: At least $2,000 USD depending on the coin

Designer - Engraver: James B Longacre Metal Composition: 90% Gold - 10% Copper

Diameter: 34 mm Mass / Weight: 33.44 grams

Images from usacoinbook.com

Most of the Liberty Head $20 gold coins are rare because many were confiscated during the Great Depression under President FDR’s executive order. Therefore, although many factors will weigh on the value of the gold double eagles, you can expect most of them to carry a high value. We reiterate that double eagle gold coins may vary in value depending on whether or not it has a mintmark, their year, design type, and condition. You can get a rough estimate of the value of your double eagle coin by checking the coin for any signs of wear and tear. Coins that are sent to professional grading companies such as PCGS or NGC may garner higher premiums if they receive a decent grade. If you find one of these $20 Gold Eagle coins in your possession, be sure to consult a professional to ensure you receive the highest quote possible.