In the late 19th and early 20th century, the United States Double Eagle emerged as one of the world’s most popular gold coins. This massive denomination was first created as a way of converting California gold into official legal tender—but it soon became an internationally recognized unit of exchange. Foreign banks and governments began using the American Double Eagle for their own reserves. While many European countries experienced currency revaluations and volatility, the U.S. Dollar was perceived to be stable and trustworthy.
With this in mind, it’s no surprise that hoards of $20 Double Eagles have popped up overseas. Financial institutions, wealthy individuals, and merchants often squirreled American gold coins for safekeeping. Quite a few of these foreign caches were uncovered in recent decades, but they still appear from time to time to this day. We were fortunate enough to locate one of these gold hoards recently—and we’re offering you the coins today.
We’ve bought many exciting gold “deals” over the years, but this find was one of the most memorable. An original hoard of 1900 Philadelphia $20 Double Eagles surfaced in a foreign country—and we ended up being the lucky buyers! These coins are remarkable for their quality and uniform appearance. They likely sat untouched in rolls for over a century; each coin displays a beautiful patina that takes decades to form. Ample mint luster shines through and the surfaces are exceptionally clean.
These freshly-discovered 1900 $20 “Libs” were sent to NGC and received a grade of Mint State 63. In order to qualify for this grade, a coin must be strictly Uncirculated, possess solid eye appeal, and be devoid of any major flaws. There’s a reason why the MS63 grade is usually called “Choice Uncirculated,” as a coin must be clearly above average to merit this designation. Had these graded MS64—and we think some deserve that grade—they would be worth hundreds more per coin.
The 1900-P Double Eagle is a popular year in the $20 Liberty series as a turn-of-the-century issue. It’s also a great value, as it’s actually significantly scarcer than the “generic” 1904 date, yet sells for little or no premium. According to NGC population reports, it’s four times rarer than the 1904. Yet, today we’re offering this date for essentially the same price as a common date. Not only is this date undervalued by the marketplace, but ALL $20 MS63 Liberties are selling for historically low premiums.
Within the past decade, $20 Liberties have traded for over DOUBLE their melt value. In early 2010, for example, the NGC Price Guide pegged this coin’s value at over $3,200 per coin when gold spot was just $1,100 to $1,200! At the time, metals were surging and a wave of new investors were rushing into the precious metals space. Vintage gold coins were in short supply; demand far exceeded available inventory in the marketplace. Today, shrewd buyers can pick up these same classic U.S. gold coins at a modest premium over melt!
Your cost on these freshly-discovered 1900 $20 Liberties is roughly . That’s a mere 11% over melt—and a far cry from the 100%+ premiums these used to fetch 5 to 10 years ago. While we believe these make fantastic collectibles, they’re also a savvy way of owning gold. They will advance in value if the spot price rises, but also stand to gain in numismatic premium too. Coins like this offer owners two ways to win.
This cache of MS63 $20 Liberties is limited to exactly 100 coins. If you’d like to take advantage of this unique offer, be sure to reserve your coins early. Special groups like this rarely come onto the market, and when they do, they’re almost never priced so close to melt. Lock in your turn-of-the-century 1900 Double Eagles while they’re still available!