$20 Liberty Gold Coin Description
The discovery of gold in California in 1848 and the ensuing Gold Rush turned out to be a godsend to coin collectors. Due to the overflow of gold that began pouring into Philadelphia, Congress authorized the United States Mint to create a $20 gold coin on March 3, 1849.
The most recognizable and highly esteemed coin of its day, the $20 Liberty, also referred to as a $20 Coronet, remained in production until 1907 when the United States Mint began releasing the $20 Saint-Gaudens.
Design of the $20 Liberty Gold Coin
Designed by James B. Longacre, the obverse of the $20 Liberty gold coin features Miss Liberty donning a crown inscribed with the word 'LIBERTY'. Thirteen stars representing the original thirteen colonies and the date encircle her.
The reverse features a bald eagle behind a striped shield. The words 'UNITED STATES OF AMERICA' arc around the top of the coin. A total of three different types of $20 Liberties were minted during its time in circulation. Depending upon the date and type, other pieces of information are listed on the reverse, as listed below.
Type I
Type I coins do not feature the motto 'IN GOD WE TRUST' and the denomination is written as "Twenty D.". Assistant engraver Anthony Pacquet created a second version of the reverse, but the redesigned coins were discarded and melted down.
Type II
The 'IN GOD WE TRUST' motto was added to the reverse in 1866, resulting in the Type II design. Rev. M.R. Watkinson of Ridleyville, PA, spearheaded this change by asking Secretary of the Treasury Salmon P. Chase to include the motto on the nation's coins in 1861. Such legislation eventually passed in 1865. Another Type II design change involved altering the shape of the shield on the reverse from straight to curved in the ornate rococo style of the day.
Type III
In 1877, the denomination was changed to read 'TWENTY DOLLARS' instead of 'TWENTY D.' This is the only difference between Type II and Type III $20 Liberty gold coins.
$20 Liberty Coin Minting Information
In mid-1849, legislation was approved to begin minting the $20 Liberty gold coin. At least two of these coins were minted in December of 1849; one is now located in the Smithsonian. Introduced into circulation in 1850, the $20 Liberty immediately became the largest denomination of all regular U.S. coins to date. In all, the $20 Liberty was minted at five different mints throughout its production.
The Creation and Use of the Double Eagle
Although $1, $2.5, $5, & $10 gold coins were already in circulation, the Mint realized that it could combat its overwhelmingly high gold influx by minting a $20 gold coin, or double eagle, in half the time it took to produce two $10 gold coins with the same amount of gold.
The new $20 gold coin was not used much in day-to-day consumer transactions. Since twenty dollars was quite a bit of money in the 19th century, the $20 Liberty was usually used for bank-to-bank transfers and paying debts to foreign investors. It served as one of the building blocks of the expanding U.S. economy and financial markets in the 19th and 20th centuries.
| Detailed Information for the $20 Liberty Gold Coin |
| Coin Designer: James B. Longacre |
| Gross Weight: 33.436g |
Gold Content: 0.9675 oz. |
| Composition: 90% gold, 10% copper |
| Coin Diameter: 34mm |
Coin Edge: Reeded |
| Dates: 1849-1866 (Type I); 1866-1876 (Type II); 1877-1907 (Type III) |
U.S. Mint Branches: Carson City (1870-79; 1882-85; 1889-93), Denver (1906-07), New Orleans (1850-61; 1879), Philadelphia (All dates*), San Francisco (1854-85; 1887-1907)
* Only proofs were struck in Philadelphia in 1883, 1884, and 1887. |
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