1863 $20 Liberty Head Double Eagle NGC MS63+ Ex. Great Kentucky Hoard (PQ-!)

What is the significance of the Great Kentucky Hoard as it relates to the 1863 Liberty double eagles found?

The Great Kentucky Hoard is significant for several reasons, particularly in relation to the 1863 Liberty double eagles found within it:

1. Historical Context: The hoard was discovered in a Kentucky cornfield, and it includes coins from the Civil War era, a time of great turmoil and uncertainty in the region. Kentucky was a border state during the Civil War, officially neutral but with divided loyalties, making it a fertile ground for hidden treasures due to the conflict. The presence of 1863 Liberty double eagles connects directly to this period, as 1863 was a pivotal year in the Civil War, marked by events like the Battle of Gettysburg.

2. Rarity and Value: The 1863 Liberty double eagles are particularly notable for their rarity. During this year, the Philadelphia Mint produced fewer double eagles due to the war's economic impact, making these coins scarce. Finding several of these in one hoard, especially in high-quality condition, significantly adds to their numismatic value. These coins are among the "finest-known" examples, which increases both their historical and monetary worth.

3. Numismatic Significance: The Liberty double eagle (or $20 gold coin) from this era does not bear the motto "In God We Trust," which was added in 1866 after the Civil War. This omission not only dates these coins but also provides insight into the coinage practices and the socio-political atmosphere of the time. The hoard includes some of the best-preserved examples of these coins, offering a "time capsule" of Civil War-era coinage.

4. Cultural Impact: The discovery validates and fuels the lore of lost Civil War gold, capturing public imagination and interest in American history. It represents not just a financial gain but a tangible connection to a tumultuous period in U.S. history, providing a snapshot of the kinds of wealth individuals might have sought to protect during the war.

5. Archaeological and Economic Insights: The hoard gives archaeologists and historians insights into the economic behaviors during the Civil War. The act of hoarding gold during this time reflects the economic uncertainty and the perceived value of gold as a stable asset in unstable times.

6. Market Influence: For coin collectors and investors, the Great Kentucky Hoard, especially the 1863 Liberty double eagles, represents an exciting opportunity. Such finds can influence the market by introducing rare coins that might otherwise be considered extremely scarce or non-existent in such conditions.

The significance of these 1863 Liberty double eagles within the Great Kentucky Hoard lies in their ability to provide a direct link to the past, offering both tangible economic history and an increase in the available supply of rare coins for collectors, thereby affecting both historical narratives and market dynamics. Source: Grok2