How to Buy a $20 St. Gaudens and Liberty Double Eagle: A Simple Guide for Beginners

If you’re looking to add a piece of history to your collection or perhaps invest in gold, buying a $20 St. Gaudens or Liberty Double Eagle is a fantastic choice. These iconic coins, first minted in the early 1900s, are prized for their beauty, history, and value. In this guide, we’ll walk you through the steps of how to buy a $20 St. Gaudens and Liberty Double Eagle coin, while providing helpful tips and advice to make sure you’re getting the best deal possible.

What Are $20 St. Gaudens and Liberty Double Eagle Coins?

Before diving into the process of purchasing a $20 St. Gaudens or Liberty Double Eagle, it’s important to understand what makes these coins so special. Minted between 1907 and 1933, the $20 St. Gaudens is one of the most recognizable U.S. gold coins. Designed by sculptor Augustus Saint-Gaudens, the coin features Lady Liberty holding a torch and olive branch on the obverse, and an eagle in flight on the reverse.

The Liberty Double Eagle, another name for the $20 coin, was originally produced for circulation but later became highly collectible due to its historical significance and gold content. In total, the coin contains 0.9675 ounces of pure gold, which contributes to its enduring value in the numismatic market.

Where to Buy a $20 St. Gaudens and Liberty Double Eagle

When it comes to buying a $20 St. Gaudens or Liberty Double Eagle, the first step is deciding where to purchase the coin. There are several reputable sources where you can find these coins, and each comes with its pros and cons:

Online Coin Dealers
One of the most convenient ways to buy a $20 St. Gaudens and Liberty Double Eagle is through online coin dealers. Websites like APMEX, JM Bullion, and GoldSilver.com offer a wide range of these coins for sale. When shopping online, make sure to read reviews and check the dealer’s credentials to ensure they’re reputable. Always verify the authenticity of the coin and the seller’s return policy.

Local Coin Shops
For a more hands-on experience, visiting a local coin shop is another great option. You’ll have the chance to see the coin in person and inspect its condition before making a purchase. Local shops also often have knowledgeable staff who can answer any questions you might have about the $20 St. Gaudens and Liberty Double Eagle.

Auctions
If you’re looking for rare or high-quality examples of the $20 St. Gaudens and Liberty Double Eagle, consider bidding at an auction. Websites like Heritage Auctions and eBay host coin auctions where you can find these coins. Keep in mind that auctions often come with bidding fees and require a bit more time and effort to win the coin at a reasonable price.

Gold Dealers
Many gold dealers also carry collectible coins like the $20 St. Gaudens and Liberty Double Eagle. Some dealers specialize in gold bullion and numismatic coins, so if you’re primarily interested in investing in gold, this could be a good route to go. Just make sure the dealer has a solid reputation for fair pricing and customer service.

Tips for Buying a $20 St. Gaudens and Liberty Double Eagle

Now that you know where to buy, it’s time to focus on how to make the best purchase. Here are some tips to help you along the way:

Check the Coin’s Condition
The condition of the $20 St. Gaudens and Liberty Double Eagle can significantly affect its price. Coins are graded on a scale from 1 (poor) to 70 (perfect). Common grades for these coins include VF (Very Fine), AU (Almost Uncirculated), and MS (Mint State). Be sure to ask for the coin’s grade before purchasing, and, if possible, request a certificate of authenticity.

Understand the Premium Over Gold Spot Price
While the $20 St. Gaudens and Liberty Double Eagle contain gold, they are not valued purely by their gold content. These coins also have numismatic value, meaning collectors are willing to pay a premium above the gold spot price. It’s essential to understand this premium before buying. For example, if the gold spot price is $1,900 per ounce, you might find the $20 coin priced at $2,000 or higher depending on its rarity and condition.

Look for Trusted Sellers
Whether you’re buying online, at a local shop, or through an auction, always buy from trusted sellers. Look for dealers who offer guarantees of authenticity and transparent pricing. If you’re unsure about a seller, do some research and read customer reviews to gauge their reputation.

Avoid Overpaying
While it’s tempting to grab the first $20 St. Gaudens and Liberty Double Eagle you find, take the time to compare prices from different sellers. Prices can vary widely depending on the dealer and the coin’s condition. Don’t be afraid to shop around and ask for discounts, especially if you’re buying multiple coins or purchasing in bulk.

Consider the Coin’s Historical Significance
Some $20 St. Gaudens and Liberty Double Eagles are more historically significant than others. For example, certain years of production were limited in quantity or have unique features, making them more valuable to collectors. If you’re buying as an investment, consider these factors when choosing which coin to purchase.

How to Spot Fake $20 St. Gaudens and Liberty Double Eagles

Unfortunately, counterfeit coins are common in the world of numismatics. To avoid buying a fake $20 St. Gaudens and Liberty Double Eagle, here are some key signs to look for:

• Weight: The $20 coin should weigh 33.43 grams. If it feels too light, it could be fake.
• Sound: A real gold coin will produce a distinct sound when dropped, unlike a fake coin made from cheaper metals.
• Magnet Test: Gold is not magnetic, so using a magnet can help you spot fakes made from magnetic metals.

If in doubt, have a professional appraiser authenticate the coin before making a purchase.

Conclusion

Buying a $20 St. Gaudens and Liberty Double Eagle can be an exciting and rewarding experience, whether you’re adding to your collection or investing in precious metals. By following these tips and doing your research, you can make sure you’re getting a fair price for an authentic coin that holds both historical and financial value. So, take your time, shop smart, and enjoy the journey of owning one of the most beautiful coins ever minted in the United States!