Which Liberty Dollars Are Valuable?

The term “Liberty Dollars” refers to both official United States coinage featuring an allegorical figure of Liberty and privately issued currency. Understanding the distinctions between these items is important for determining their potential value. This article provides information to help discern what type of “Liberty Dollar” you may possess and whether it holds significant worth.

Distinguishing Types of “Liberty Dollars”

The phrase “Liberty Dollar” broadly refers to two distinct categories: official United States coins and privately issued currency. Many official US coins, particularly older silver dollars, feature an image of Lady Liberty and are colloquially known as “Liberty Dollars.” Examples include the Morgan Dollar, Peace Dollar, and American Silver Eagle.

In contrast, a specific private currency explicitly called “Liberty Dollars” was issued by the National Organization for the Repeal of the Federal Reserve Act (NORFED). These privately minted items are not recognized as legal tender by the United States government. They were intended as an alternative currency system, distinct from official federal coinage.

Identifying Valuable Official US Coins Featuring Liberty

Official US coins depicting Lady Liberty can hold substantial value, often far exceeding their face denomination. Their value is primarily driven by condition, rarity, and specific mint marks. Professional grading services, such as PCGS and NGC, authenticate and assign a numerical grade, which influences market price.

Morgan Silver Dollars, minted from 1878-1904 and again in 1921, are popular among collectors. Key dates and mint marks, like the 1893-S, 1895-O, and 1895 Proof, are valuable due to low mintage or scarcity in high grades. A pristine, uncirculated 1893-S Morgan Dollar can exceed $660,000, while an 1895 Proof can be even more valuable.

Peace Silver Dollars, produced from 1921-1935, also feature Lady Liberty. The 1921 high-relief Peace Dollar is particularly valuable due to its unique design and limited mintage. Other scarcer dates include the 1928-S.

American Silver Eagles are modern bullion coins introduced in 1986, primarily valued for their silver content. Each coin contains one troy ounce of .999 fine silver, tying its base value to the current spot price. However, certain proof issues, special editions, or coins with lower mintage figures can command a premium beyond their intrinsic metal value. For example, the 1996 American Silver Eagle has one of the lowest bullion mintages, making it more desirable.

Lady Liberty also appears on Standing Liberty Quarters (1916-1930) and Walking Liberty Half Dollars (1916-1947). Some Standing Liberty Quarters, such as the 1916-P and 1927-S, are rare and valuable even in circulated condition. Walking Liberty Half Dollars with key dates like the 1916-S, 1917-S (obverse mint mark), 1919-D, 1921, 1921-D, and 1921-S are highly prized. A 1921-S Walking Liberty Half Dollar can be valued at over $100,000 for high-grade examples.

Identifying Valuable Private “Liberty Dollar” Currency

The privately issued “Liberty Dollar” currency, created by Bernard von NotHaus and NORFED, served as an attempted alternative currency. These items were designed to be backed by precious metals, primarily silver and gold. Their value is assessed differently than government-issued currency, primarily as a commodity or collectible.

These “Liberty Dollars” were produced in various forms and denominations, most commonly as silver rounds or coins. Denominations ranged from “One Dollar” to “Twenty Dollar” based on face value, and included weight denominations like “One Ounce,” “Five Ounce,” and “Ten Ounce” for silver. Smaller fractional silver ounces were also produced. Gold versions also existed, carrying a higher intrinsic value due to their precious metal content.

NORFED also issued paper certificates representing silver deposits. Designs varied across different years and denominations, with some specific dates or variations being rarer. While the primary value of most private “Liberty Dollars” links to the current spot price of silver or gold, certain issues may hold additional numismatic value. This additional value stems from factors like lower mintage figures, unique design variations, or their historical significance.

To determine commodity value, ascertain the precise metal content and purity, then multiply it by the current spot price. For example, a “One Ounce” silver Liberty Dollar’s base value fluctuates with the market price of silver. While intrinsic metal value is dominant, condition can also contribute to desirability and premium for collectors, particularly for rarer types.

Assessing and Selling Your “Liberty Dollars”

Once you have identified the type of “Liberty Dollar” you possess, assessing its value and deciding how to sell it involves several steps. For official US coins, seeking a professional appraisal from reputable coin dealers or numismatists is advisable. Organizations like PCGS and NGC offer authentication and grading services which can significantly impact a coin’s market value.

When selling, multiple avenues are available. Local coin shops and dealers offer a convenient option, providing immediate offers. Online marketplaces, such as eBay, or specialized online coin and bullion dealers like APMEX, Provident Metals, JM Bullion, or Bullion Exchanges, provide broader exposure to potential buyers. For items valued primarily for their metal content, precious metal buyers are also a viable option.

It is prudent to obtain multiple offers for your “Liberty Dollars” to ensure you receive a fair price. Dealers typically need to make a profit, so their offers will be below the retail value. For private “Liberty Dollars” or certified official coins, retaining original packaging or documentation can enhance their perceived value and facilitate the selling process. Always exercise caution against potential scams and ensure all transactions, particularly for high-value items, are conducted securely.