Lot 1714
1873 $20 Liberty. Open 3. NGC graded AU-58. A frosty example. The Coinage Act of 1873 changed the United States policy with respect to silver. Before the Act, the United States had backed its currency with both gold and silver, and it minted both types of coins. The Act moved the United States to the gold standard, which meant it would no longer buy silver or mint silver coins from the public on demand, but instead only from approved (that is, politically connected) Western mine owners. Double eagles (and gold bars) were the chief means of settling export payments in the 1870s when the 1873 $20 gold piece was current (PCGS # 8967) .
Estimated Value $1,400 - 1,450.
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| Realized $1,696 |
