The 1904 Liberty Head Eagle (PCGS PR65+CAM) is a rare and significant coin that has captured the attention of collectors and numismatists. With a mintage of only 108 coins, this gold eagle is among the most sought-after examples of Liberty Head coinage.
Its scarcity, coupled with its pristine condition and cameo features, has made it a prized addition to any collection, as evidenced by its remarkable auction price of $96,000.
Why Are There So Few Surviving Examples?
Although 108 coins were originally minted in 1904, only a fraction of them have survived in collectible condition. This is due to several key reasons:
- Mishandling and Usage
At the time of their minting, the 1904 Liberty Head Eagles were often viewed as regular-issue coins rather than prized collectibles. Many were mishandled, spent, or otherwise used in circulation, leading to wear and damage that diminished their value and collectibility over time. - Perception in the Early 20th Century
Early numismatists did not always prioritize preserving coins like the 1904 Liberty Head Eagle, as they were not yet recognized as significant rarities. Consequently, fewer examples were carefully stored or protected. - Limited Survival Rates
According to PCGS, only 45 examples have been graded to date. Coins that remain in high grades, such as PR65+CAM (Proof 65 with Cameo surfaces), are exceedingly rare, further enhancing their desirability. - Variability in Grades
Among the surviving specimens, grades vary widely, with only a handful achieving high grades. Coins with reflective or cameo surfaces, like this example, are even scarcer, making them especially valuable.
Auction Highlights: Stack’s Bowers Galleries
The 1904 Liberty Head Eagle (PCGS PR65+CAM) was offered by Stack’s Bowers Galleries, one of the most prominent auction houses in numismatics. Its auction was a resounding success, with the coin realizing a final price of $96,000.
Why Was This Coin So Valuable?
- Cameo Features:
The reflective, cameo surfaces of this coin distinguish it from other examples, showcasing a sharp contrast between the frosted devices and mirrored fields. - High Grade:
The PR65+CAM designation indicates an exceptional level of preservation, with only minor imperfections visible under magnification. - Rarity:
With only 45 graded specimens and an original mintage of 108, this coin’s scarcity makes it a standout piece in any collection.
The 1904 Liberty Head Eagle: Design and Specifications
The Liberty Head Eagle is a beautiful example of 19th- and early 20th-century American coinage.
- Obverse:
The obverse features a left-facing portrait of Lady Liberty wearing a coronet inscribed with “LIBERTY.” Surrounding her are 13 stars, representing the original colonies, and the year “1904” at the bottom. - Reverse:
The reverse depicts a heraldic eagle clutching arrows and an olive branch, with the motto “IN GOD WE TRUST” above it. - Composition:
The coin is made of 90% gold and 10% copper, with a weight of 16.718 grams and a diameter of 27 mm.
The Importance of Provenance and Grading
The provenance and grading of a coin like the 1904 Liberty Head Eagle are crucial to its valuation. PCGS grading ensures authenticity and provides a standardized measure of a coin’s condition, helping collectors understand its rarity and desirability.
Also See: This Lincoln Pennies Coin is worth up to $840,000 usd – Check the change in your pocket.
Grading Highlights
- PR65+CAM: Indicates a near-flawless proof coin with cameo surfaces.
- Pedigree: Coins with detailed auction records, such as this example, often fetch higher prices due to their documented history and authenticity.
FAQs
1. What makes the 1904 Liberty Head Eagle so rare?
The coin’s low mintage of only 108 and the fact that many were mishandled or spent over time make it exceptionally scarce. Additionally, cameo-proof examples in high grades are incredibly rare.
2. How many 1904 Liberty Head Eagles have been graded by PCGS?
Only 45 examples have been graded by PCGS, underscoring their rarity in the numismatic market.
3. What are cameo surfaces?
Cameo surfaces refer to a coin’s reflective fields contrasted with frosted devices, creating a striking visual effect that is highly prized by collectors.
4. Where was the 1904 Liberty Head Eagle minted?
This coin was minted in Philadelphia, which was known for producing proof coinage of exceptional quality.
5. What is the significance of Stack’s Bowers Galleries in numismatics?
Stack’s Bowers Galleries is a leading auction house specializing in rare coins and collectibles. Their expertise and reputation add credibility to the coins they offer.
