Liberty Head Gold Coins: Golden Emblems of American Heritage

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Liberty head gold coins are a series of American coins sought after by gold investors and coin collectors. Many are also called “Coronet Head” series. The list of gold Liberty head coins include:

Dollar ($1)
Quarter Eagle ($2.50)
Half Eagle ($5)
Eagle ($10)
Double Eagle ($20)

Today, we’ll be focusing on the gold Liberty head dollar, quarter eagle, half eagle, and eagle series. (Learn more about the Liberty head double eagle at the link above.)

Over our decades of experience in the coin industry, we’ve learned all about the value and variety of gold coins.

Today, we’re excited to break down all the Liberty head gold coins, including their specifications, designs, varieties, and values.

Pictured above: Obverse & reverse of 1865-P Liberty Head gold eagle | Image credit: National Numismatic Collection, National Museum of American History; Public domain

Historical Background

The history of Liberty head gold coins goes back to the Coinage Act of 1792.

The act not only established the US Mint, but also America’s currency in decimalized dollar units. It also defined the terms eagle, half eagle, and quarter eagle with their respective face values ($10, $5, and $2.50).

These three coins became the first gold US coins issued by the US Mint for circulation.

Counting all the designs for each gold coin, not just Liberty head, their minting lasted from:

Gold Dollars: 1849 to 1889
Quarter Eagles: 1796 to 1929; None from 1809 to 1820 & 1916 to 1924
Half Eagles: 1795 to 1929; None from 1917 to 1928
Eagles: 1795 to 1933; None from 1805 to 1837

After some basic math, gold half eagles ran the longest at 123 years, followed by quarter eagles at 113 years and eagles at 105 years.

Gold Standard & Composition Changes

From 1795 to 1933, the face value of most coins was attached to their metal value — following the centuries-old commodity-backed monetary systems (e.g. gold standard).

Each metal had base-unit coins: silver for dimes & dollars, copper for cents, and gold for eagles.

At first, only early American copper coins (cents & half-cents) circulated; silver and gold coins were minted but then exported or melted, not circulated.

Why? The 15:1 silver to gold value ratio differed from the world’s standard, and American gold coins were 22K (91.67% pure), making them more valuable to sell overseas or melt.

So, Congress passed the Coinage Act of 1834, changing the value ratio to 16:1 and the purity of gold coins 21.58K (89.92% pure), along with decreasing their troy oz weight.

In 1837, they adjusted the purity to 21.6K, simplified as 21K (90% pure), and increased the troy oz weights to slightly higher than the 1792 standards.

Pictured above: Obverse & reverse of 1849-O (first-year issue) Liberty Head gold dollar | Image credit: PCGS CoinFacts, Free use

Introduction of Gold Dollar

The gold dollar didn’t come until Congress passed the Coinage Act of 1849. Given the increased supply of gold bullion from the California Gold Rush and desires from the public, the act authorized the mint to produce gold dollars and gold double eagles ($20).

This came after years of Congress representatives fighting for a gold dollar; Mint Director Robert M. Patterson even had Christian Gobrecht (soon-to-be Chief Engraver) create a pattern coin design in the 1930s.

Gobrecht died in 1844, so the new Chief Engraver James B. Longacre started the new Liberty double eagle and gold dollar design in 1849.

Creating Cohesive Designs

The other gold coins all had similar Liberty head (or “Coronet”) designs created by Gobrecht, starting in 1838, 1839, and 1840 for each. Longacre’s Liberty head gold dollar made all the gold coins cohesive.

The popular Liberty head design lasted through 1907-1908 for all but the gold dollar, which was changed to the Indian Princess design in 1854 until the coin was discontinued in 1889.

Similar non-gold Liberty head designs, with reverse elements closer to that of the gold dollar, were used on 1883-1912 five-cent nickels and 1816-1857 large cents.

End of Gold Circulation Coins

The Great Depression of the early 1930s marked the end of gold circulation coins.

To help the economy, President Franklin D. Roosevelt made it illegal to own gold and ended gold coin circulation in 1933-1934.

Although the bans relaxed in 1964, Americans couldn’t fully own gold again until 1975, after President Gerald Ford made private ownership legal again in December 1974.

In modern times, the Liberty head quarter eagle obverse was reproduced on the James Buchanan Liberty First Spouse 1/2-oz $10 gold bullion coins.

Pictured above: Obverse of 2010 James Buchanan's First Spouse 1/2-oz gold coin featuring Liberty Head design | Image credit: US Mint, Public domain

Types of Liberty Head Gold Coins

Here’s how the specifications of Liberty head gold coins span across all four series:

Years: 1838 to 1908
Composition: 21K (90% pure, or 900 fineness) gold alloy with 10% copper or silver & copper
Purity / Amount of Gold: 0.04837 to 0.48375 troy oz of pure gold
Diameter: 18 to 26.8 mm
Weight: 1.7 to 16.7 g
Thickness: 1.02 to 2.03 mm
Edge: All reeded

Now we’ll look at each Liberty head gold coin’s specifications:

Pictured above: Obverse & reverse of 1854-P Liberty Head gold dollar with "Closed Wreath" graded MS67 by PCGS | Image credit: PCGS CoinFacts, Free use

Gold Dollar ($1)

The Liberty head gold dollar (or gold one-dollar piece) was the “Type 1” in two series, followed by the Types 2 & 3 designs in the Indian Princess series.

Years: 1849-1854
Composition & Purity: 0.04837 troy oz of 21K (90% pure) gold
Designer: 3rd US Mint Chief Engraver James B. Longacre (obverse); Assistant Engraver Peter Filatreu Cross (reverse)
Diameter: 12.7 mm
Weight: 1.70 g
Thickness: 1.02 mm
Edge: Reeded

To this day, the Liberty head gold dollar is the smallest US coin ever minted.

All four subtypes are in 1849. The first two are “No L” and “With L.” The second two are “Open Wreath” and “Closed Wreath.”

Pictured above: Obverse & reverse of 1873-P "Open 3" Liberty Head quarter eagle | Image credit: PCGS CoinFacts, Free use

Quarter Eagle ($2.50)

The Liberty head (Coronet) quarter eagle was the third of four gold quarter eagle designs, between the Classic Head and Indian Head series.

Years: 1840-1907
Composition & Purity: 0.121 troy oz of 21K (90% pure) gold
Designer: 4th US Mint Chief Engraver Christian Gobrecht (obverse); John Reich & Robert Hall Hughes (reverse)
Diameter: 18 mm
Weight: 4.18 g
Thickness: 1.27 mm
Edge: Reeded

Liberty head was the most popular quarter eagle series and is the longest-running US circulation coin with no major design changes at 68 years.

Pictured above: Obverse & reverse of 1866-P "With Motto" (and "Head of 1840" type) Liberty Head half eagle | Image credit: National Numismatic Collection, National Museum of American History; Public domain

Half Eagle ($5)

The Liberty head (Coronet) half eagle was the fourth of five designs, between the Classic Head and Indian Head series. Partway through 1840, the diameter was decreased and the thickness was increased.

Years: 1839-1908
Composition & Purity: 0.24187 troy oz of 21K (90% pure) gold
Designer: 4th US Mint Chief Engraver Christian Gobrecht (obverse); Assistant Engraver John Reich (reverse, modified)
Diameter: 22.5 mm (“Broad Mill” 1839-1840); 21.65 mm (“Narrow Mill” 1840-1908)
Weight: 8.36 g
Thickness: 1.4 mm (1839-1840); 1.59 mm (1840-1908)
Edge: Reeded

The Liberty head half eagles have two subtypes: Type 1 No Motto (1839-1866) and Type 2 With Motto (1866-1908).

Pictured above: Obverse & reverse of 1869-S "With Motto" Liberty Head eagle | Image credit: PCGS CoinFacts, Free use

Eagle ($10)

The Liberty head (Coronet) gold eagle was the second of three gold eagle designs, between the Draped Bust (Turban Head) and Indian Head series. The diameter of gold eagles decreased from 33 mm with the Liberty head series.

Years: 1839-1907
Composition & Purity: 0.48375 troy oz of 21K (90% pure) gold
Designer: 4th US Mint Chief Engraver Christian Gobrecht
Diameter: 26.8 mm
Weight: 16.7 g
Thickness: 2.03 mm
Edge: Reeded

Like the Liberty head half eagles, Liberty eagle coins have two subtypes: Type 1 No Motto (1839-1866) and Type 2 With Motto (1866-1907).

Some numismatists add a third type at the beginning, making Type 1 the the 1838-1839 “Covered Ear” or “Type of ‘38” variety (image below) and the others Type 2 and Type 3, respectively.

Pictured above: Obverse & reverse of 1838/39 "Covered Ear" or "Type of '38" Liberty Head gold eagle | Image credit: PCGS CoinFacts, Free use

Design and Aesthetics

The 1792 Coinage Act established that all US Mint coins must have Lady Liberty on the obverse (heads side), while gold and silver coins must have an eagle on the reverse (tails side). This changed later on.

Liberty was chosen as she was a symbol of freedom during the Revolutionary War, and the US didn’t want to emulate British monarchical coins by putting American presidents on coins.

The eagle has been the country’s national bird since 1792, described by Congress as “the greatest visible symbol of the spirit of freedom and democracy in the world.”

All Liberty head coins also feature 13 stars, representing the original 13 colonies. The gold dollar also features a wreath, common in early American coins to symbolize unity.

Pictured above: Obverse & reverse of 1839-C "Head of 1839" Liberty Head half eagle | Image credit: PCGS CoinFacts, Free use

Obverse Designs

The obverse of gold Liberty head coins are all incredibly similar.

They all feature a bust of Lady Liberty facing left, her hair pulled back into a bun. She wears a coronet with “LIBERTY” inscribed on it. On all but the gold dollar, pearls adorn Liberty’s bun.

Thirteen stars encircle Liberty, meeting at the bottom on either side of the mintage year (for all but the gold dollar, which has a complete circle).

Unique variations include:

“No L” Gold Dollars (early 1849): Longacre’s initial missing
“With L” Gold Dollars (late 1849-1854): Longacre’s initial added on bust truncation
“Head of 1839” Half Eagles (1839): Different Liberty (right side further from stars, different shaped curls, more curved neck) & mint mark on obverse (above mintage year)
“Head of 1840” Half Eagles (1840-1908): Different Liberty (less curved neck, right side closer to stars) & mint mark on reverse
“Type of 1838” Eagles (1838-mid 1839): AKA Type 1/Covered Ear variety; Head of Liberty tilted left with less of ear showing

Pictured above: Comparison of "Old Reverse" and "New Reverse" on 1859 Liberty Head gold quarter eagles | Image credit: PCGS CoinFacts, Free use

Reverse Designs

The reverse designs of Liberty head gold coins are also similar, except for gold dollars.

On the other Liberty head coins, the reverse features an eagle with wings outspread and a union shield on its breast.

In its talons, the eagle holds three arrows on the right and an olive branch on the left. The inscription “UNITED STATES OF AMERICA” encircles the eagle, separated at the bottom by the denomination inscription (as “2 1/2 D.” or “FIVE D.” or “TEN D.”).

Unique features include:

CAL Quarter Eagle (1848): “CAL” inscribed above eagle
Type 2 With Motto Half Eagle (1866-1908): Ribbon bearing “IN GOD WE TRUST” inscription above eagle
Type 2 With Motto Eagle (1866-1907): Same as above
“Old Reverse” Quarter Eagle (1859-1861): Technically used since 1840, but one of two designs from these years; Much rarer than New Reverse 1861 issues
“New Reverse” Quarter Eagle (1859-1907): Name only specified on 1859-1861 issues; New dies prepared in 1859 with smaller, wider-spaced letters (round “O” in “OF” versus Old Reverse’s oval “O”)
Pre-1840s Type 1 Half Eagles: Smaller year & lettering
Post-1840s Type 1 Half Eagles: Larger year & lettering; Some years like 1842 have issues in pre- and post-1840s style
Closed 3 Half Eagle (1873): Knobs on “3” in mintage year close, resembling an “8”
Open 3 Half Eagle (1873): Knobs on “3” further apart; Slightly rarer than Closed 3

The Liberty head gold dollar’s reverse features a wreath of laurel sprigs tied with a ribbon at the bottom. Inside the wreath are the inscriptions “1 DOLLAR” & the mintage year. “UNITED STATES OF AMERICA” is inscribed outside the wreath.

The gold dollar reverse varieties are:

Open Wreath (early 1849): Longer distance between wreath tips & “1” inscription
Closed Wreath (mid 1849-1907): Shorter distance between wreath tips & “1” inscription

Pictured above: Obverse & reverse of 1852-O "Closed Wreath" Liberty Head gold dollar with "O" mint mark for New Orleans Mint | Image credit: Centpacrr at English Wikipedia, Public domain

Minting and Production

Throughout the decades of Liberty head gold coins, seven mint branches struck these coins, denoted by their mint marks:

None — Philadelphia Mint; All coins
“S” — San Francisco Mint; All coins
“D” (pre-1861) — Dahlonega Mint; Gold dollars, quarter eagles, half eagles
“D” (1906 on) — Denver Mint; Quarter eagles, half eagles, eagles
“C” — Charlotte Mint, pre-1861; Gold dollars, quarter eagles, half eagles
“CC” — Carson City Mint; Half eagles, eagles
“O” — New Orleans Mint; All coins

All mint marks (except on 1839 half eagles) are on the reverse: below the wreath for gold dollars and below the eagle on the other coins.

The Liberty head half eagle is the only coin minted at all seven branches.

The total circulated mintages across all years & highest mintage issues of each Liberty head coin series are:

Gold Dollars: Total - 12,565,273; Highest issue - 1853-P at 4,076,051
Quarter Eagles: Total - 11,941,171; Highest issue - 1851-P at 1,372,748
Half Eagles: Total - 60,617,653; Highest issue - 1881-P at 5,708,760
Eagles: Total - 42,684,236; Highest issue - 1881-P at 3,877,220

Among these years are valuable issues.

Key Dates and Notable Series

Altogether, there are a lot of gold Liberty head coin issues, but some are more valuable than others.

The exact value of Liberty head gold coins depends on:

Current Gold Spot Price: The market value (“spot price”) of gold fluctuates. Generally, higher inflation means higher gold prices and vice versa. You can check the current gold spot price here.
Variety: Circulated issues are more common, while value increases for rare proof, cameo proof, and deep cameo proof issues.
Rarity: Issues with lower mintages (fewer were minted) or lower survivals (fewer known today) command higher prices.
Mint Errors: Unintentional errors, especially rare ones, are almost always valuable.
Demand: Market value fluctuates with the fluctuating popularity of Liberty gold coins or specific issues.
Condition: A more well-preserved Liberty head gold coin (particularly certain issues) carries higher value.

Almost all Liberty head gold proofs are rare, particularly earlier issues.

We’ll get into grading later; for now, we’ll look at the more valuable key dates in each gold coin type.

Pictured above: Comparison of No L vs With L on 1849-P Liberty head gold dollar | Image credit: PCGS CoinFacts, Free use

Liberty Head Gold Dollar Key Dates:

1849-C Open Wreath: Rarest gold dollar (~4 known); Worth $550,000 to $750,000
1854-D: Lowest mintage; Worth $3,500 to $110,000
1854-S: First & only San Francisco gold dollar issue; Worth $975 to $60,000
1849-P No L: Third rarest gold dollar (~500 known); Worth $400 to $140,000

Pictured above: Obverse & reverse of 1848-P "CAL" Liberty Head Quarter Eagle | Image credit: PCGS CoinFacts, Free use

Liberty Head Quarter Eagle Key Dates:

1854-S: Among lowest mintage of any US circulated coin at 246 (~11 known); Worth $275,000 to $700,000
1841-P: Called “Little Princess,” among rarest US coins (12-16 known); Worth $125,000 to $500,000
1841-C: Among rarest from Charlotte (~110 known); Worth $2,000 to $55,000
1848-P CAL: Low-mintage special issue (~200-300 known); Worth $35,000 to $1.15 million
1863-P Proof: Among rarest year, only proofs struck (30 mintage, ~20 known); Worth $50,000 to $185,000
1856-O: Rarest New Orleans quarter eagle; Worth $600 to $75,000

Pictured above: Obverse & reverse of 1866-S No Motto Liberty Head half eagle | Image credit: PCGS CoinFacts, Free use

Liberty Head Half Eagle Key Dates:

1875-P: Most sought-after; Low mintage (200) & low survival (4-9 known); Worth $250,000 to $900,000
1854-S: Among rarest; Low mintage (268) & low survival (3 known); Worth $1.92-3.75 million
1839-C “Head of 1839”: One-year type; Worth $2,000 to $400,000
1839-D “Head of 1839”: Like 1839-C but slightly less rare; Worth $3,500 to $300,000
1847-O: Most valuable New Orleans half eagle issue (~50-60 known); Worth $4,500 to $57,500
1861-C: Last Charlotte half eagle issue, low mintage & partly struck under Confederacy; Worth $3,000 to $200,000
1861-D: Last Dahlonega half eagle issue, low mintage & 75-100 survivors; Worth $27,500 to $400,000
1870-CC: Among rarest half eagle issues (~77 known); Worth $17,500 to $350,000
1866-S No Motto: Near same rarity as 1865-S (~80 known); Worth $1,250 to $80,000
1877-P: Second lowest Philadelphia mintage at 797 (~50 known); Worth $5,500 to $85,000

Pictured above: Obverse & reverse of 1870-CC Liberty Head eagle graded AU58 by PCGS | Image credit: PCGS CoinFacts, Free use

Liberty Head Eagle Key Dates:

1838-P & 1839-P “Type of 1838”: Two year-only variety; 1838-P rarer, worth $3,500 to $185,000 but 1839-P more valuable, worth $1,600 to $1.1 million
1870-CC: First, rarest & most famous Carson City eagle issue (~50 known); Worth $85,000 to $1.3 million
1879-O: Low mintage & survival (~70 known); Worth $17,500 to $125,000
1864-P & 1864-S: Low mintages & survivors (~24 & ~42 known, respectively); Worth $9,000 to $100,000 (1864-P) or $65,000 to $375,000 (1864-S)
1875-P: Lowest mintage of all eagles & gold coins at 100 & ~9 known; Worth $250,000 to $1.5 million
1841-O: Second rarest No Motto issue, rarest issue in high grades; Worth $10,000 to $160,000
1859-O: Among rarest New Orleans eagle issue (~55 known); Worth $11,000 to $120,000
1860-S: Rarest San Francisco eagle issue; Low mintage & survival (~36 known); Worth $7,000 to $75,000
1863-P: Extremely rare Civil War era issue (~34 known); Worth $30,000 to $300,000
1883-O: Lowest New Orleans eagle mintage at 800 (~40 known); Worth $22,500 to $250,000

As promised, grading Liberty gold coins is up!

Pictured above: Obverse & reverse of 1862-P "No Motto" Liberty Head half eagle graded MS62PL (Prooflike) by PCGS | Image credit: PCGS CoinFacts, Free use

Collecting and Grading

The market value of Liberty head gold coins is always higher than their face values, based on their historical value & the high spot price of gold.

However, the coin’s condition plays a significant role. Condition is typically given as a grade by a professional third-party service like Professional Coin Grading Services (PCGS) or Numismatic Guaranty Company (NGC).

Different coin grading systems exist, but the general grade meanings are:

Uncirculated: Never circulated & properly stored; Looks like it did the day it was minted
Mint State (MS): Like Uncirculated but with sub-grades from 60 to 70 for many visible marks to flawless, respectively
Specimen (SP): Definition varies among grading agencies, but generally between a Mint State and Proof grade
Proof (PR or PF): Struck as a proof coin; Sub-grades from 60 to 70 just like Mint State; Three subtypes:
1. Standard Proof: Background (field) isn’t highly reflective
2. Cameo (CAM): Rarer; Background highly reflective plus a) light to moderate frosting on obverse & reverse, b) not frosted, or c) frosted on only one side
3. Deep/Ultra Cameo (DCAM or UCAM): Rarest; Background highly reflective plus highly & evenly frosted obverse & reverse
Prooflike (PL): Coins struck & handled for circulation but with a similar brilliant shine to proof coins
About Uncirculated (AU): Very minor wear on high points of design from brief circulation, well-preserved surfaces, near-complete mint luster; Sub-grades from 50 to 58
Extremely Fine (EF or XF): Complete details, light wear on high points; Sub-grades 40 & 45
Very Fine (VF): Moderate to complete details, wear on high points; Sub-grades 20 to 35
Fine (F): 50 percent or less of detail flat, visible to sharp letters & digits; Sub-grades 12 & 15
Very Good (VG): Wear throughout, letters & digits soft but readable; Sub-grades 8 & 10
Good (G): Outer letters & digits full to slightly worn, slightly worn to sharp rims; Sub-grades 4 & 6
About Good (AG-3): Mostly readable letters & digits, worn rims
Fair (FR-2): Some visible details, traces of outer letters, flat
Poor (PO-1): Only date, mint mark, and year identifiable

Certain issues of Liberty gold coins are easier to find in higher grades than others, but beginners can find most issues in lower grades with ease.

Pictured above: Obverse of 1883 Liberty Head eagle | Image credit: James St. John, Flickr, CC-BY-SA-2.0

Ready to Invest In Valuable, Historic Liberty Head Gold Coins?

Liberty head gold coins represent a significant era of American numismatic history. Spanning over 70 years of important eras — including the social reforms of the Progressive Era, the tragedy of the Civil War, and economic growth of the Technological Revolution.

During these dynamic decades, the gold coins reminded Americans of their values — freedom, strength, and unity. Today, Liberty head gold coins are a treat for investors and numismatists alike, with acute significance for their gold content and historical value.

Buy Liberty Head gold coins coins today!