1899 Liberty Head Double Eagle Proof : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..

The Liberty Head Double Eagle is one of the most challenging series of United States coins to complete, whether one is considering a set of business strikes or Proofs. In Proof, even the wealthiest collectors will have to settle for an incomplete set, as the 1849 example is unique and is permanently impounded in the National Numismatic Collection at the Smithsonian Institution. The sole known 1850 Liberty Head Double Eagle Proof resides at the Bibliothèque Nationale de France in Paris. The next Liberty Head Double Eagle Proof whose whereabouts are known is the sole known example of the 1854-S Branch Mint Proof, which was struck to mark the opening of the San Francisco Mint. This example, like the 1849 Proof, is also in the National Numismatic Collection. There is a unique 1856-O Branch Mint Proof in private hands, valued at approximately $2 million.

The series does not become “collectible” in Proof until the 1859 issue. Even then, fewer than ten are known of that date. The finest 1859 Proof (NGC PF66CAM) is likely a million-dollar coin. By the early 1860s, the number of survivors known today increased to an average of 10-12 per issue. These numbers are considerably lower than the reported number of coins struck (usually between 25 and 59 coins). The high attrition rate for Double Eagle Proofs was primarily due to the coins being too expensive for even wealthy individuals to collect. A $20 gold Proof cost $20.50 to purchase from the United States Mint, an amount equivalent to roughly $730 in 2025 inflation-adjusted dollars.

In 1866, Congress mandated that the Mint modify silver and gold coin designs to include the motto IN GOD WE TRUST. This modification was made to the Double Eagle, with the motto appearing within the ring of stars above the eagle on the reverse in a design element known as the “Glory.” Collectors refer to this as the Type II Liberty Head Double Eagle.

The Mint introduced the Type III Double Eagle in 1877 with slight modifications to the design, the primary change being to the denomination. Previously spelled out as “TWENTY D.,” on the Type III coins the denomination was presented as “TWENTY DOLLARS.” With rising mintages for both business strike and Proof issues, the Type III is the most accessible subset of Liberty Head issues. Even so, Proof mintages seldom surpassed 100 coins.

For the 1899 Liberty Head Proof, the Philadelphia Mint used one set of dies to strike 84 coins, of which perhaps 40-45 survive. The pinnacle of these are graded Proof 65, with a few graded as high as Proof 67 with Ultra Cameo.

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1899 Liberty Head Double Eagle Proof Market Data and Noteworthy Specimens

Top Population: PCGS PR66CAM (1, 7/2025), NGC PF67UCAM (3, 7/2025), and CAC PR67+DCAM (1, 7/25).

• NGC PF67UCAM CAC #1997930-001: “The William D. Plumley Collection,” Heritage Auctions, April 2012, Lot 5360 – $207,000; Heritage Auctions, August 2012, Lot 5429 – $211,500; “The Mercury Rising Collection,” Heritage Auctions, September 14, 2023, Lot 3183 – $468,000.
• NGC PF67UCAM #1943669-003: “The Norweb Collection, Part III,” Bowers and Merena, November 1988, Lot 4062 – $77,000; “The Witham and Sansoucy Collection,” Bowers and Merena, September 1992, Lot 1613 – $50,600; “A. Rockford Cummings,” Stack’s, October 2008, Lot 1080 – $172,500; “The Jim O’Neal Gold Type Collection,” Heritage Auctions, January 5, 2012, Lot 5076 – $166,750.
• NGC PF67UCAM #1741185-060: “The Ultra Collection,” Heritage Auctions, March 7, 2008, Lot 1759 – $218,500.
• PCGS PR66CAM: Bowers and Merena, August 2006, Lot 4433 – $105,800; The High Desert Collection.
• PCGS PR65+CAM #44155915: “The Bob R. Simpson Collection, Part VII,” Heritage Auctions, January 2022, Lot 3810 – $156,000.
• PCGS PR65CAM #34629314: Heritage Auctions, April 26, 2018, Lot 4441 – $108,000; “The Mississippi Collection of Double Eagles,” Heritage Auctions, January 16, 2025, Lot 4920 – $240,000.
• PCGS PR65DCAM #50157836: Stack’s Bowers, March 21, 2023, Lot 3271 – $179,000. Thin scratch below stars 9 and 10. On the reverse, disturbance in the field below IT of UNITED. Contact mark above LL.
• PCGS PR65DCAM CAC #06662795: As “Gem Brilliant Proof”. Heritage Auctions, June 1, 2001, Lot 9322 – $33,350; Superior, February 2005, Lot 3629 – $63,250; Stack’s Bowers, October 18, 2006, Lot 2346 – $92,000. As PCGS PR65DCAM CAC #06662795. “The Castle Pines Collection,” August 17, 2021, Lot 4267 – $180,000. Long horizontal planchet depression on Liberty’s cheek.
• PCGS PR65DCAM: Goldberg Auctions, June 2016, Lot 1646 – $85,188; Goldberg Auctions, February 2017, Lot 1367 – $96,938; Goldberg Auctions, June 2017, Lot 1268 – $68,150.
• NGC PF65UCAM #3209929-004: Stack’s Bowers, March 2014, Lot 4118 – $76,375.
• PCGS PR65CAM #21152149: “The Cherry Blossom Collection,” Stack’s Bowers, March 2014, Lot 4119 – $82,250.
• PCGS PR65CAM #09867959: “The Greenwich Collection, Part Two,” Heritage Auctions, August 20, 2004, Lot 7704 – $54,625.

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Design

Obverse:

As the one-time largest circulating denomination in the United States, the double eagle makes quite the artistic statement. The obverse features a stoic left-facing profile portrait of Lady Liberty wearing a coronet inscribed with the word LIBERTY. Her hair is held up in a knot, with curling locks falling down the back of her neck. Encircling the bust are 13 six-pointed stars representing the 13 original colonies. The date 1899 appears below the truncation.

Reverse:

A heraldic eagle is in the center. A semi-circle of sunbeams extends from wingtip to wingtip, encompassing a circle of 13 six-pointed stars and the motto IN GOD WE TRUST. The eagle’s shield is bracketed by two large scrolls, one on each side that together contain the motto E PLURIBUS UNUM. Ringing the main design are the legend UNITED STATES OF AMERICA and the denomination TWENTY DOLLARS.

Edge:

The edge of the 1899 Liberty Head Double Eagle Proof is reeded.

Designer

James Barton Longacre (1794-1869) was one of the most famous U.S. engravers and medallic artists of the 19th century. Longacre was appointed the fourth Chief Engraver of the United States Mint by President John Tyler after Christian Gobrecht died in 1844. Before his appointment, Longacre worked for the Philadelphia engraving company Murray, Draper, Fairman & Co. until he began working for himself in 1819. As an independent engraver, Longacre produced a series of famous plates that featured the Founding Fathers, President Andrew Jackson, and Senator John C. Calhoun. Once he became Chief Engraver at the Mint, he produced such famous pieces as the Flying Eagle Cent, the Indian Head Cent, and the Shield Nickel.

Coin Specifications

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