1903-S $20, PL (Regular Strike)
Series: Liberty Head $20 1850-1907
PCGS MS62PL
PCGS MS62PL
PCGS MS62PL
- PCGS #:
- 89044
- Designer:
- N/A
- Edge:
- N/A
- Diameter:
- 34.00 millimeters
- Weight:
- N/A
- Mintage:
- 954,000
- Mint:
- N/A
- Metal:
- 90% Gold, 10% Copper
- Auction Record:
- $2,904 • MS62PL • 04-15-2021 • Stack's Bowers
Condition Census What Is This?
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#1 PCGS MS62PL
Stack's Bowers, August 25, 2021, Lot 9631 - $2,160. Arced mark to the left of Liberty's nose. Diagonal mark under eagle's right wing. |
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#1 PCGS MS62PL
Stack's Bowers, April 15, 2021, Lot 92017 - $2,904. Multiple parallel diagonal hits on Liberty's jaw. |
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#1 PCGS MS62PL
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#1 PCGS MS62PL
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#1 PCGS MS62PL
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1903-S Liberty Head Double Eagle
In 1903, the San Francisco Mint struck coins in seven denominations. Of these, the 1903-S Liberty Head Double Eagle (#9044) and the 1903-S Morgan Dollar (#7284) are the scarcest in today’s market. Interestingly, the Morgan Dollar maintains roughly the same value as the Double Eagle in grades of About Uncirculated (AU) and finer.
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1903 San Francisco Mint Coin Production |
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| 1903-S Barber Dime | 613,300 | ||
| 1903-S Barber Quarter | 1,036,000 | ||
| 1903-S Barber Half Dollar | 1,920,772 | ||
| 1903-S Morgan Dollar | 1,241,000 | ||
| 1903-S Liberty Head Half Eagle | 1,855,000 | ||
| 1903-S Liberty Head Eagle | 538,000 | ||
| 1903-S Liberty Head Double Eagle | 954,000 | ||
Collecting the 1903-S Liberty Head Double Eagle
The 1903-S Liberty Head Double Eagle’s mintage of 954,000 was the lowest output for the San Francisco Mint since 1892. However, this figure remains robust compared to the Philadelphia Mint’s production during the periods of 1901–1903 and 1905–1906.
The overwhelming majority of this mintage was either held by the Treasury Department or returned to it following the Gold Recall of 1933, where the coins were subsequently melted into bullion ingots. The 1903-S remains available to modern collectors primarily because approximately 10,000 to 15,000 Mint State examples were repatriated from overseas hoards after World War II.
In his 1982 analysis, United States Gold Coins: An Analysis of Auction Records, numismatist David W. Akers counted 151 auction appearances for the 1903-S between 1946 and 1981. The PCGS Population Report has since clarified the surviving population. PCGS reports nearly than 7,000 grading events, with PCGS MS62 being the most common grade. While certified populations skew heavily toward Uncirculated coins, it is surmised that a significant number of unrepresented AU coins also exist.
Due to the softness of gold, the coin’s large physical size, and its long-term storage in bags, the 1903-S is a notable condition rarity in PCGS MS65 and none have been graded finer as of May 2026.
Vintage Market Snippets
The Fenn Treasure In 2010, art dealer Forrest Fenn published The Thrill of the Chase, a memoir containing clues to a hidden treasure chest filled with gold nuggets, rare coins, and gemstones buried in the Rocky Mountains. The decade-long search ended in 2020 when adventure-seeker Jack Stuef discovered the bronze chest in Wyoming. Stuef consigned the treasure to Heritage Auctions. Among the hoard were five 1903-S Liberty Head Double Eagles; two in Mint State.
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