1907 MS64 $20 Liberty and $20 Saint-Gaudens set
MS64 Liberty gold coins, as a category, represent an excellent opportunity at current levels. Last month, we brought the MS64 $5 Liberty ($1,085/each) to your attention. And, we’re equally excited about the $10 Liberty as well.
Like its smaller cousin, the $10 Liberty is a rare item in high grades and is currently trading at a dramatic discount. The same conditions that make the MS64 $5 Liberty an outstanding value hold true for the $10 Liberty as well. And, if you were able to get one of the $5 “better date” Liberty coins last month, this would make a great addition. Call 800-831-0007 to get yours today.
History and Rarity
When the $10 Liberty first debuted in 1795, it was the United States’ highest denomination unit of value. Only limited quantities were produced. Small-denomination copper and silver pieces were in greater demand because the large gold coins were almost never used by the average American.
Not only were mintage figures extremely low, but most early $10 Liberty coins were melted for their gold content. Extreme fluctuations in bullion prices in the late 1700s and early 1800s often made it more profitable to melt the $10 gold piece rather than spend it. In 1804, Thomas Jefferson halted $10 Liberty production.
The $10 Liberty made its return in 1838, albeit with a design overhaul and some changes to its metallic composition. The new $10 coin featured Christian Gobrecht’s iconic Liberty motif, which would remain in place until 1907.
To combat melting, the coin’s gold content was trimmed slightly - from .516 ounces to .484 ounces - and was alloyed with a small amount of copper instead of silver. Despite the U.S. Mint’s efforts, untold quantities of this coin would still hit the melting pot in the ensuing decades. Between myriad financial panics in the 19th century and Roosevelt’s gold confiscation in 1933, the majority of $10 Liberties were destroyed.
Today, the average surviving $10 Liberty is either:
- extensively worn from circulation, or
- heavily abraded from storage in a bank bag.
Whereas small-denomination gold coins were often stored in rolls, $10 eagles jostled around in canvas bags. As the big, heavy coins came into contact with each other, they left deep abrasions and gouges. Not surprisingly, numismatists refer to these flaws as “bag marks.” The more the coins moved from bank to bank (or even country to country, as was common in the early 20th century), the number of nicks and marks increased.
In higher uncirculated grades, $10 Liberties are extremely difficult to find. Based on population figures maintained by NGC and PCGS, less than 1% of all pieces still in existence qualify as MS64 or higher. In fact, there are dozens of dates that remain unknown—let alone rare—in MS64. Gem quality pieces are even scarcer. Among all Liberty series gold coins, the $10 Liberty is definitely the most challenging to locate in MS65.
Market Values
The NGC Price Guide began tracking the MS64 $10 Liberty in mid-2005. At that time, the coin was valued at $1,830 basis a gold spot price of less than $450. During the following year, the coin saw a meteoric rise to $2,730 before correcting to $1,800-$2,000 in 2007. The MS64 $10 Liberty spiked again to $3,000 in early 2008, but then leveled off in the low-to-mid $2,000s for the balance of the year. An even bigger price surge was seen in late 2009, as the coin peaked at $3,170 basis a spot gold price of around $1,200.
In evaluating the MS64 $10 Liberty, two important price references emerge.
- The last time this coin was available in the high teens, like it is today, gold was hovering in the $400-$500 range.
- In 2009, when gold was around $1,200, like it is today, the MS64 $10 Liberty was commanding over $3,000 per coin.
For these reasons, we currently view the MS64 $10 Liberty as an outstanding value with excellent opportunity to appreciate. Over the past eight years, we haven’t seen a better entry point.
Rarer Dates Available at Small Premiums
A compelling argument exists for all MS64 $10 Liberties, but we believe buying better dates provides even more potential upside. Within the series, we feel seven dates provide the most opportunity: 1893, 1894, 1897, 1898, 1900, 1902-S and 1903-S. All of these dates are at least six times rarer than the most available date (1901-S) and have major value jumps in MS65. Finding these dates on the market isn’t easy, but after some extensive searching, we’re able to make a small group available to you.
| Date | PCGS Population | NGC Population | Times Rarer | MS65 Value |
| 1901-S | 3540 | 3834 | ||
| 1893 | 230 | 717 | 7.79 | 7750 |
| 1894 | 112 | 412 | 14.07 | 13000 |
| 1897 | 110 | 162 | 27.11 | 7450 |
| 1898 | 62 | 124 | 39.65 | 7600 |
| 1900 | 188 | 358 | 13.51 | 5750 |
| 1902-S | 497 | 585 | 6.82 | 400 |
| 1903-S | 204 | 189 | 18.76 | 3850 |
Look at the below graph for one of the rarer dates above. You can see not only are we offering this coin (delivered) at a price lower than the current price guide, but it’s also the best time to buy this coin since NGC starting tracking the prices.
NGC Price History for the 1902-S $10 Liberty
The last time the MS64 $10 Liberty was available at such attractive levels, gold was under $500. We’ve seen this coin race over $3,000—even against a spot price of $1,200. We like the MS64 $10 Liberty category and invite you to consider taking advantage of these seven better dates. Buying these scarcer issues could very well increase your return even further. It took months to track down these better date $10 Liberty coins—and they will not remain in our inventory for long.
Our Inventory
If the $10 Liberty was readily available, we wouldn’t need to put a spotlight on it. As always, with the monthly spotlight coin, we have been able to obtain a few coins we can offer you at a price we feel will put you in the position to succeed in the future.
MS64: Please call for pricing and availability.
Call 800-831-0007 or email me today to purchase your coins and to take advantage of the lowest prices in years.
*Prices subject to change due to availability and market fluctuation.
