United States $20 Liberty
Grade: Mint State 63
Actual Gold Content: .9675 troy ounce
Investor Note: Due to opportunities in the historic US coin market to procure discounted volume groupings, grading service preferences and date-specific options, all transactions and quotes for MS63 $20 Liberties are handled via phone only. Please call with your inquiry.
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Mint State (MS) 63 $20 Liberties are an ideal gold investment for those seeking exposure to both the gold price itself, as well as additional upside potential through the possibility of premium expansion. Given that the $20 Liberties (1851-1907) were minted before the $20 Saint Gaudens gold coins (1907-1932), they are typically scarcer, and therefore more expensive, in higher conditional grades than $20 St. Gaudens. To point, price performance in the MS63 $20 Liberty is most closely mirrored by the MS64 St. Gaudens, though the MS63 Liberty is traditionally valued slightly higher due to a lower population. According to PCGS (Professional Coin Grading Company), about 130,000 $20 Liberty gold coins exist in MS63. By comparison, MS64 $20 St. Gaudens have a known population of 245,136 coins.
The following graph displays a twenty year price performance history for the MS63 $20 Liberty gold coins, along with the gold price.
MS63 $20 Liberties, like all graded $20 gold pieces, saw cycle lows in terms of their premiums to underlying gold value in 2019. Their highest rarity levels were achieved during past periods of elevated gold demand, like Y2K and the 2008/9 Financial Crisis. The graph below shows the twenty-year premium performance for the MS63 $20 Liberties relative to its underlying gold content value. The premium as listed on the y (vertical)-axis should be read as a multiplier of the spot gold price. In other words, a coin premium of 2.00 is equal to double the spot gold price. Cycle lows have shown premiums as low as 1.20 (20%) over spot gold, while recent highs in 2009 saw premiums at 2.75x gold. Due to broad increases in physical gold demand over the past year, premiums on the MS63 $20 Liberties have once again turned upward.