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<p>[QUOTE="johnmilton, post: 25232485, member: 101855"]The obverse design of the Liberty $20, with the large open fields and big cheek for Ms. Liberty, was much more prone to acquiring marks, which took them out of the MS-65 grade. If you look at the grading census for certified coins, the number of $20 Liberty coins drops dramatically from MS-64 to MS-65. There are far more St Gaudens $20 coins graded MS-65 than Liberty $20 pieces. </p><p><br /></p><p>Taking numbers from Dave Bowers book on type coins, here is the difference. These numbers are old, but they make the point. </p><p><br /></p><p>Type III $20 Liberty</p><p><br /></p><p>MS-64 58,392</p><p>MS-65 1,694</p><p><br /></p><p>St. Gaudens $20, No Motto and With Motto combined </p><p><br /></p><p>MS-64 311,026</p><p>MS-65 103,179</p><p><br /></p><p>I have noted that the standards for MS-65 Liberty have been watered down. Therefore there are more of them with the grade, and price premium has gone down. </p><p><br /></p><p>I have one more theory, which might be all wet. Perhaps during the St. Gaudens era, gold traders traded paper instead of physical gold. Therefore the bags of $20 St. Gaudens were moved less often and got fewer marks. </p><p><br /></p><p>Years ago I read that the $20 Liberty would be much harder to find as a type coin it weren’t for common dates like 1898-S and especially the 1904.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 25232485, member: 101855"]The obverse design of the Liberty $20, with the large open fields and big cheek for Ms. Liberty, was much more prone to acquiring marks, which took them out of the MS-65 grade. If you look at the grading census for certified coins, the number of $20 Liberty coins drops dramatically from MS-64 to MS-65. There are far more St Gaudens $20 coins graded MS-65 than Liberty $20 pieces. Taking numbers from Dave Bowers book on type coins, here is the difference. These numbers are old, but they make the point. Type III $20 Liberty MS-64 58,392 MS-65 1,694 St. Gaudens $20, No Motto and With Motto combined MS-64 311,026 MS-65 103,179 I have noted that the standards for MS-65 Liberty have been watered down. Therefore there are more of them with the grade, and price premium has gone down. I have one more theory, which might be all wet. Perhaps during the St. Gaudens era, gold traders traded paper instead of physical gold. Therefore the bags of $20 St. Gaudens were moved less often and got fewer marks. Years ago I read that the $20 Liberty would be much harder to find as a type coin it weren’t for common dates like 1898-S and especially the 1904.[/QUOTE]
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1907 Saint, new pick up !
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