1879-O Liberty Head Double Eagle: A Collector’s Guide

The 1879-O Liberty Head Double Eagle is one of the most enigmatic and sought-after coins in American numismatic history. Struck at the New Orleans Mint, it remains a rarity with a unique blend of history, scarcity, and allure for collectors. This coin represents a vital chapter in the story of $20 gold coins, or “Double Eagles,” which were minted to facilitate large financial transactions during a transformative period in U.S. history.

In this guide, we will explore the coin’s design, mintage, rarity, and value, along with tips for collectors seeking to add this extraordinary piece to their collection.

History and Background

The Liberty Head Double Eagle, designed by James B. Longacre, was introduced in 1850 following the discovery of vast quantities of gold in California. The coin became a workhorse of commerce in the 19th century, facilitating major financial transactions and playing a key role in the U.S. economy.

The 1879-O Liberty Head Double Eagle is notable because it marks a brief and final attempt by the New Orleans Mint to strike Double Eagles. After this issue, no $20 gold coins were minted in New Orleans. At the time, economic instability and limited demand for gold coins in the South contributed to the coin’s exceptionally low mintage.

Design and Specifications

The design of the 1879-O Liberty Head Double Eagle is a hallmark of James B. Longacre’s artistry. It showcases classical motifs that emphasize liberty and American ideals.

• Obverse (Front): Features a profile of Lady Liberty wearing a coronet inscribed with the word “LIBERTY.” Thirteen stars, symbolizing the original colonies, encircle the design, along with the date “1879” at the bottom.
• Reverse (Back): Depicts a majestic heraldic eagle holding an olive branch and arrows, symbolizing peace and readiness. The eagle is encircled by the inscriptions “UNITED STATES OF AMERICA” and “TWENTY DOLLARS.” The New Orleans mintmark, “O,” is prominently displayed below the eagle.

Specifications:

• Composition: 90% gold, 10% copper
• Weight: 33.44 grams
• Diameter: 34 mm
• Edge: Reeded

Mintage and Rarity

The 1879-O Liberty Head Double Eagle boasts an astoundingly low mintage of just 2,325 coins, making it one of the rarest coins in the entire Liberty Head Double Eagle series. This limited production is attributed to declining demand for gold coinage in the post-Civil War era, particularly in the Southern United States.

It is believed that many of these coins were melted down over time, making surviving examples exceedingly rare. Fewer than 100 examples are estimated to exist today, and even fewer in uncirculated condition.

Value and Collectibility

The 1879-O Liberty Head Double Eagle is a grail coin for many collectors. Its rarity and historical significance contribute to its immense value, particularly at auctions.

• Very Fine (VF-20): $150,000–$200,000
• Extremely Fine (EF-40): $300,000+
• Mint State (MS-60): $500,000 or more

Examples with original surfaces and minimal wear fetch premium prices. High-grade specimens are often the centerpiece of elite collections.

Tips for Collectors

1. Authenticate the Coin: Due to its rarity, the 1879-O is a target for counterfeiting. Always seek coins certified by reputable grading services like PCGS or NGC.
2. Study Provenance: Many surviving specimens have well-documented histories. A coin with a known provenance often carries additional value.
3. Preserve the Coin: Store the coin in a secure, climate-controlled environment to prevent damage to its surfaces.

Conclusion

The 1879-O Liberty Head Double Eagle is more than just a coin; it’s a tangible link to America’s monetary and cultural history. Its low mintage, artistic design, and connection to the storied New Orleans Mint make it a coveted piece for advanced collectors.

For numismatists, owning an 1879-O is the ultimate achievement, symbolizing dedication to preserving and studying rare artifacts of U.S. coinage. Its value, both monetary and historical, ensures its continued prominence in the numismatic world.

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