The 1904 Liberty Head Double Eagle is one of the most popular and widely collected gold coins in American numismatics. Known for its historical significance, elegant design, and relative affordability in higher grades, this coin holds a special place in the hearts of collectors and investors alike. Struck at the height of the Liberty Head design’s production, the 1904 Double Eagle represents the final years of one of the longest-running and most iconic coin series in U.S. history.
Historical Background
The Liberty Head Double Eagle, also known as the $20 gold piece, was introduced in 1850 in response to the California Gold Rush. Designed by James B. Longacre, the coin featured the largest denomination in regular U.S. coinage at the time. It was minted until 1907, when it was replaced by the Saint-Gaudens Double Eagle.
The 1904 issue marks one of the last years of the Liberty Head design. Struck in large quantities at the Philadelphia Mint, the 1904 Double Eagle is a standout for collectors due to its high mintage and survival rate. Unlike many earlier dates in the series, which are rare or difficult to find in top condition, the 1904 Double Eagle is readily available in uncirculated grades, making it an excellent entry point for collectors of pre-1933 U.S. gold coins.
Design and Specifications
The 1904 Liberty Head Double Eagle showcases the classic design by James B. Longacre, which exudes elegance and dignity.
- Obverse: The obverse features Lady Liberty facing left, wearing a coronet inscribed with the word “LIBERTY.” Her hair flows gracefully beneath the coronet, and the design is surrounded by 13 stars representing the original colonies. The date “1904” is prominently displayed below Liberty’s bust.
- Reverse: The reverse depicts a heraldic eagle with a shield on its chest, clutching an olive branch and arrows in its talons. Above the eagle is a ribbon inscribed with the motto “IN GOD WE TRUST,” while the denomination “TWENTY DOLLARS” is seen at the bottom. The design is surrounded by the inscription “UNITED STATES OF AMERICA.”
The coin is struck in .900 fine gold, weighs 33.436 grams, and has a diameter of 34 millimeters. Its composition consists of 90% gold and 10% copper, making it durable for circulation.
Rarity and Value
The 1904 Liberty Head Double Eagle boasts a massive mintage of 6,256,699 coins, the highest of any date in the Liberty Head series. This large production, combined with the fact that many coins were preserved in bank vaults, means that the 1904 issue is relatively common today, especially in uncirculated condition.
In circulated grades like VF (Very Fine) or EF (Extremely Fine), the 1904 Double Eagle typically sells for its gold content value, often around $2,000–$2,200 depending on market fluctuations. Uncirculated coins graded MS60 to MS62 are also accessible, usually ranging from $2,400 to $3,000. Higher-grade examples, such as MS64 or MS65, command premiums of $3,500 to $6,000 due to their exceptional luster and eye appeal.
Collecting Tips
The 1904 Liberty Head Double Eagle is an ideal choice for collectors and investors alike. Its high availability and relative affordability make it a great starting point for assembling a collection of U.S. gold coins. When purchasing, prioritize coins certified by reputable grading services like PCGS or NGC to ensure authenticity and accurate grading.
Conclusion
The 1904 Liberty Head Double Eagle stands as a timeless piece of American history and craftsmanship. With its beautiful design, historical significance, and availability in high grades, it’s a must-have for collectors and an attractive investment for those seeking exposure to pre-1933 gold. Whether you’re a seasoned numismatist or a first-time buyer, this coin offers a tangible link to America’s past and a symbol of its enduring prosperity.
FAQs
1. Is the 1904 Liberty Head Double Eagle rare?
The 1904 Liberty Head Double Eagle is not rare compared to other dates in the series. Its high mintage and survival rate make it readily available, particularly in uncirculated grades.
2. How much is a 1904 Liberty Head Double Eagle worth?
The value varies depending on condition and gold market prices. Circulated examples often sell for $2,000–$2,200, while uncirculated coins in MS60 to MS65 range from $2,400 to $6,000 or more.
3. Why is the 1904 Liberty Head Double Eagle popular with collectors?
Its high availability, beautiful design, and historical significance make it a favorite among collectors and investors. It’s also one of the more affordable pre-1933 gold coins in higher grades.