Saturday 19th May 2012

Liberty Head Eagle 1838 - 1907

Gold eagle production was halted in 1804 by President Thomas Jefferson. In 1834 the Mint Act resolved the problem of gold being exported to Europe by reducing the gold content of U.S. coins, thus making it unprofitable to melt them. Mintage resumed in 1838, but even with a reduced gold content, eagle production remained low.

Vital Stats. Designer: Christian Gobrecht Content: 90% gold 10% other Diameter: 26.8 millimeters Edge: Reeded Weight: 16.7 grams Mint Mark Location: Below the eagle on the reverse. Type 1 Year/ Mint Mark Circulation Strikes 1838 7,200	Type 1 (1838) Covered Ear To denote the change in gold content, engraver Christian Gobrecht was instructed to prepare a new design. The design was said to be influenced by a portrait of Venus in the painting by Benjamin West "Love Conquers All".
Type 2	Type 2(1839)-(1866) Ear Showing, No Motto A minor change to Liberty's portrait and reverse lettering size was made in 1839. This revisions most notable feature was exposed Liberty's ear.
Type 3	Type 3 (1866)-(1907) Ear Showing, With Motto The addition of a banner displaying "IN GOD WE TRUST" on the reverse in 1866 was the only other change and the coin remained virtually the same until 1907.

Prices at Very Fine and Extremely Fine grades are moderate. Coins certified as Gem and above are rare and sell at significant multiples of near-Gem coins of the same year. In the lower grades, some branch mint coins sell from two to four time higher than Philadelphia coins, however, this is not true of higher Mint States. Some proof like circulation strikes have been certified. All proofs are expensive (especially 1838 and 1839).