Coin Specifications

Category: Liberty Head $20 (1850-1907)
Mint: Philadelphia
Mintage: 80,120
Obverse Designer: James B. Longacre
Reverse Designer: James B. Longacre
Composition: Gold
Fineness: 0.9000
Weight: 33.4400g
AGW: 0.9675oz
Melt Value: $1714.41 (7/4/2020)
Diameter: 34mm
Edge: Reeded
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1871 $20 MS obverse 1871 $20 MS reverse
Images Courtesy of Heritage Auctions (HA.com)
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Description & Analysis

Gold coins did not circulate on the East Coast, Midwest, or South in 1871. This was because gold traded at a premium to Federal paper money, which could not be redeemed for specie. This had been the case since greenbacks were first introduced early in the Civil War, and it was not until 1878 that gold and paper money finally achieved parity. In the West, though, Federal paper money was often refused, and large payments were made in gold coin. This explains the high mintages of San Francisco double eagles relative to their Philadelphia Mint counterparts.

In 1871, gold mintages were even lower than usual. Production of gold dollars, quarter eagles, three dollar pieces, half eagles, and eagles ranged between 1,300 and 3,900 pieces. The 1871 Philadelphia double eagle mintage was only moderately higher at 80,120 pieces, likely struck for a trader to pay for imports, or simply to prevent the 30 proofs from becoming instant, prized rarities.

Despite the small mintage, there was no contemporary numismatic demand for double eagles, although gold dollars and three dollars did receive modest collector interest at the time. Most surviving 1871 twenties are in XF an AU grades. Examples with unbroken cartwheel luster and clean surfaces are great rarities.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 6/26/2020

Click on a price to see historical prices, comparison charts and trends.

1871 $20 MS
  GVGFVFXF505355586061626364656667686970
Base $ 1725 1725 1725 2250 2700 3000 4375 5900 6625 9575 16400 30000 48500 78000 - - - - - -
$ - - - - - - - - 57500 - - - - -

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Census

 
NGC GRADE SUMMARY

Total Graded: 286
Low Grade: VF
Average Grade: 53
High Grade: 64

The chart showing VF series, 40 series, 45 series, 50 series, 53 series, 55 series, 58 series, 60 series, 61 series, 62 series, 63 series, 64 series.
NGC CENSUS DETAIL Last Updated: 6/30/2020 1871 $20 MS
 PrAgGVGFVF4045505355586061626364656667686970Total
Base----57413343578346-12------282
------------1---------1
---------1------------1
-----------------------
Total----57413343588347-12------284
 ----2%2%14%12%15%20%29%1%2%-0%1%------ 
1871 $20 MS PL
 PrAgGVGFVF4045505355586061626364656667686970Total
Base---------11----2------4
-----------------------
-----------------------
-----------------------
Total---------11----2------4
 ---------25%25%----50%------ 

NGC Registry

NGC Registry Score 1871 $20 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base16581799212422682368243325853172371240484539541768208515991811246123241786226299392945952391322
17051907217223012390248427813352382442124832588573858983103611160514170206743063146037701230
0000002781335238244212483258857385898310361116051417020674306314603700
0000002976353239364375512463527950945010803119651601623487349625278000
Registry Image Gallery
Grade: MS 60
Points: 5417
Owner: John H Erickson
 
Grade: AU 58
Points: 4539
Owner: Grandman
 
View the Registry Image Gallery

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