The 1868 Liberty Head Eagle, a $10 gold coin, stands as a testament to America’s rich numismatic heritage. Its historical significance, combined with rarity and exquisite design, has captivated collectors and investors alike. In 2024, this coin achieved a remarkable auction price of $930,000, underscoring its immense value in the numismatic community.
Historical Context and Design
Minted in 1868, the Liberty Head Eagle was designed by Christian Gobrecht, the third Chief Engraver of the U.S. Mint. The obverse features a left-facing portrait of Lady Liberty adorned with a coronet inscribed with the word “LIBERTY.”
Encircling her are 13 stars, symbolizing the original colonies, and the coin’s mintage year at the bottom. The reverse showcases a heraldic eagle clutching an olive branch and arrows, with a shield on its breast. Above the eagle, a scroll bears the motto “IN GOD WE TRUST,” a phrase introduced to U.S. coinage during this era.
Mintage and Rarity
The 1868 Liberty Head Eagle had a limited mintage, with only 10,655 coins produced at the Philadelphia Mint and 13,500 at the San Francisco Mint. Such low production numbers contribute significantly to the coin’s rarity and desirability among collectors.
Notably, only a handful of these coins have survived in pristine condition, with some estimates suggesting that fewer than 100 exist today in various states of preservation.
Specifications
The coin’s specifications are as follows:
| Specification | Details |
|---|---|
| Composition | 90% gold, 10% copper |
| Gold Content | 0.4806 troy ounces |
| Diameter | 27 mm |
| Weight | 16.718 grams |
| Edge | Reeded |
Market Value and Auction Records
The value of the 1868 Liberty Head Eagle varies based on its condition, rarity, and market demand. In lower grades, these coins can fetch several thousand dollars. However, specimens in mint state (MS) conditions command significantly higher prices. For instance, in 2024, a specimen graded MS63 by a leading grading service sold for an astounding $930,000 at a Heritage Auctions event. This sale highlights the coin’s exceptional value and the premium placed on well-preserved examples.
Factors Influencing Value
Several factors contribute to the high value of the 1868 Liberty Head Eagle:
- Rarity: Limited mintage and the survival of few specimens enhance its scarcity.
- Condition: Coins in superior grades, especially those with minimal wear, attract higher prices.
- Historical Significance: As a representation of post-Civil War America, the coin holds substantial historical importance.
- Design: The intricate artwork by Christian Gobrecht adds aesthetic appeal.
Collecting and Investment Potential
The 1868 Liberty Head Eagle is a coveted piece for numismatists and investors. Its rarity and historical significance make it a valuable addition to any collection. Investors view such coins as tangible assets that can appreciate over time, especially when held in excellent condition.
Preservation and Care
Maintaining the coin’s condition is crucial for preserving its value. Collectors should store the coin in a controlled environment, free from humidity and temperature fluctuations. Handling should be minimized, and when necessary, gloves should be worn to prevent oils from fingers from causing damage.
Conclusion
The 1868 Liberty Head Eagle is more than just a piece of currency; it is a relic of American history, artistry, and craftsmanship. Its journey from a $10 gold coin to a numismatic treasure worth $930,000 reflects its enduring allure and significance in the world of coin collecting.
FAQs
- Why is the 1868 Liberty Head Eagle so valuable?
- Its value stems from its rarity, historical significance, and condition. Limited mintage and few surviving specimens in high grades contribute to its high market value.
- Who designed the 1868 Liberty Head Eagle?
- Christian Gobrecht, the third Chief Engraver of the U.S. Mint, designed the coin.
- What is the gold content of the 1868 Liberty Head Eagle?
- The coin contains 0.4806 troy ounces of gold, with a composition of 90% gold and 10% copper.
- How many 1868 Liberty Head Eagles were minted?
- Approximately 10,655 were minted in Philadelphia and 13,500 in San Francisco.
- What factors should be considered when investing in rare coins like the 1868 Liberty Head Eagle?
- Investors should consider rarity, condition, historical significance, and market demand. Proper authentication and grading are also essential to determine value.
