$20 Liberty Gold Piece
The $20 Liberty Gold Piece was authorized by the act of March 3, 1849 and its designer was James B. Longacre. It was produced at 5 different mints: Philadelphia (no mint mark) Carson City (CC) Denver (D) New Orleans (O) and San Francisco (S). Sometimes called a double-eagle it was struck between 1849 and 1907 by the millions to help a growing America.
The $20 Liberty Gold Piece saw wide circulation and was commonly held for bank reserves. When gold was recalled during the Roosevelt Administration many of these coins were melted and became part of the gold reserves held at Fort Knox, Kentucky. Before President Nixon closed the US gold window the majority of these big gold coins found their way into the largest banks of Europe.
The front of the $20 Liberty Gold Piece features the profile of Liberty, 13 stars and the date. The reverse features a stylized (American Eagle), the words (United States of America) and the denomination (Twenty Dollars). All traditional American gold coinage is 90% pure meaning some copper was added to increase the coin’s durability. It contains 0.967 oz of pure gold.
There are many reasons the $20 Liberty Gold Piece is a popular diversification: (1) It is an excellent choice for someone who wants a bullion type investment but who worries that bullion ownership may be challenged. The $20 Liberty Gold Piece was minted before 1933 leading some to believe it may not be subject to confiscation should America once again prohibit gold ownership. There are many people who believe this argument has merit and so are attracted to this early gold coin. (2) Because the $20 Liberty Gold Piece was made by the United States its content and weight are guaranteed by a sovereign country. This allows traders worldwide to post daily buy and sell prices which follow the price of gold directly. (3) There are two circulated grades which offer the most value: Extra Fine (EF) and Almost Uncirculated (AU). It is in these higher grades that the investor enjoys the best combination of quality and lower premium. (4) The $20 Liberty Gold Piece is historically significant and seen as real money thoughout the world. It played an important role in the old “gold rush” days and carries an iconic status not seen in modern gold coins. (5) There is no reporting requirement (Federal Form 1099B) when buying or selling this coin.
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I like to buy these more than the regular bullion coins. A warning to others: These are circulated coins so they don’t come in perfect condition
Hello, I love your writing a lot! Great read and great coins.