United States $20 Liberty
Grade: Mint State 64
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 MS64 $20 Liberties are handled via phone only. Please call our offices with your inquiry.
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MS64 $20 Liberty gold coins are a compelling gold investment for those seeking to maximizing the opportunity for additional upside potential through the possibility of premium expansion while maintaining base exposure to the gold price itself. 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 the point, price performance in the MS64 $20 Liberty is most closely mirrored by the MS65 $20 St. Gaudens, though it is traditionally valued slightly higher due to a lower population. According to PCGS (Professional Coin Grading Company), about 60,000 $20 Liberty gold coins exist in Mint State 64. By comparison, MS65 $20 St. Gaudens have a known population of slightly less than 160,000 coins.
The following graph displays a twenty year price performance history for the MS64 $20 Liberty gold coins, along with the gold price.
MS64 $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 fifteen-year premium performance for the MS64 $20 Liberty 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, 3.00 is equal to triple the gold price. Cycle lows have shown premiums as low as 1.30 (30%) over gold, while recent highs in 2009 saw premiums at nearly 3.5x gold. Due to broad increases in physical gold demand over the past year, premiums on the MS64 $20 Liberties have once again turned upward.