The 1885-S Liberty Head Double Eagle, struck at the San Francisco Mint, is a significant coin in U.S. numismatic history. With its classic design, high gold content, and historical importance, this coin appeals to collectors and investors alike. Despite being minted over a century ago, many examples of this coin have survived, primarily due to gold hoards discovered in later years. This guide will explore the coin’s history, design, rarity, and current market value.
Historical Background
The Liberty Head Double Eagle series, also known as the $20 gold piece, was introduced in 1850 following the California Gold Rush, which brought an influx of gold to the U.S. Treasury. Designed by James B. Longacre, the series was produced until 1907.
Design Details
The 1885-S Liberty Head Double Eagle features the timeless design created by Longacre:
- Obverse (Front): The obverse portrays a profile of Lady Liberty facing left, wearing a coronet inscribed with the word “LIBERTY.” Thirteen stars encircle her, symbolizing the original colonies, and the date “1885” is positioned below the portrait.
- Reverse (Back): The reverse displays a heraldic eagle clutching an olive branch and arrows, with a shield on its chest. Above the eagle, the inscription “UNITED STATES OF AMERICA” and the denomination “TWENTY DOLLARS” encircle the design. The iconic “S” mintmark appears just above the denomination, identifying the coin as being struck in San Francisco.
Both sides of the coin exhibit intricate details, making it an artistic and historical masterpiece.
Rarity and Survival Rates
Despite its substantial mintage of over 680,000 coins, many of these Double Eagles were melted down over the years, particularly during periods when the U.S. government recalled gold coins. However, a significant number of 1885-S Double Eagles have survived in high grades due to discoveries in gold hoards, including coins repatriated from overseas banks and private holdings.
- Circulated Grades: Most surviving coins are in circulated condition, typically grading XF (Extremely Fine) to AU (About Uncirculated). These are widely available to collectors and often trade near their intrinsic gold value.
- Uncirculated Grades: Coins in Mint State (MS) grades are scarcer, with grades of MS-62 to MS-64 being particularly sought after. High-quality examples are more expensive due to their rarity and demand.
Market Value and Investment Potential
The value of an 1885-S Liberty Head Double Eagle depends on its condition and certification. Coins in circulated grades (XF to AU) generally sell for $2,000 to $2,800, while uncirculated examples in MS-62 or MS-63 can command prices of $4,000 to $7,000 or more. Exceptional coins graded MS-64 or higher are rare and can fetch $10,000 or more at auction.
Collecting the 1885-S Liberty Head Double Eagle
For collectors, the 1885-S Double Eagle is a desirable coin due to its combination of historical significance, artistic design, and tangible gold value. Its availability across a range of grades makes it accessible to both novice and experienced collectors.
- Historical Appeal: Owning an 1885-S Double Eagle connects collectors to the late 19th-century gold rush era, a pivotal time in American history.
- Investment Potential: With its gold content and numismatic appeal, this coin offers strong investment potential, especially in higher grades.
Conclusion
The 1885-S Liberty Head Double Eagle is a remarkable coin that combines beauty, history, and intrinsic value. Its legacy as a product of the San Francisco Mint during the late 19th century and its role in facilitating commerce makes it a standout addition to any collection. Whether you’re a seasoned numismatist or a new collector, the 1885-S Double Eagle is a worthy investment that continues to captivate collectors around the world.
FAQs
1. How much is the 1885-S Liberty Head Double Eagle worth today?
The value varies depending on condition. Circulated coins typically sell for $2,000 to $2,800, while uncirculated examples can range from $4,000 to over $10,000 in higher Mint State grades.
2. What makes the 1885-S Liberty Head Double Eagle unique?
Its historical significance, classic design by James B. Longacre, and connection to the California Gold Rush era make it a highly collectible coin.
3. How can I verify the authenticity of an 1885-S Liberty Head Double Eagle?
Authenticity can be confirmed by having the coin graded and certified by professional grading services such as PCGS or NGC, which also assess its condition.