The idea of a “1776 20 dollar silver coin” often sparks curiosity and excitement among coin collectors and the general public alike. The year 1776 holds profound historical significance for the United States, suggesting that any coin from that period, especially one with such a high denomination, could be incredibly valuable. However, the reality regarding the 1776 20 dollar silver coin value is more nuanced than many assume. This article separates fact from fiction, providing a comprehensive guide to what you might encounter and how to assess its worth.
The Historical Context: No US $20 Silver Coin in 1776
To begin, it is critical to understand that the United States did not mint any $20 silver coins in 1776. The concept of a $20 denomination coin was introduced much later, and specifically, the first $20 gold coin, known as the Double Eagle, was not issued until 1849.
During the Colonial period, and even immediately after the Declaration of Independence, the nascent United States did not have a standardized national coinage system in place. Foreign coins dominated circulation, primarily Spanish silver Reales and gold Escudos, alongside British, French, and other European currencies. Therefore, if you possess a coin marked “1776” and believe it to be a $20 silver coin minted by the United States, it is important to reconsider its origin.
The Exception: The 1776 Continental Dollar – A Silver Rarity
While no official US $20 silver coin existed in 1776, there is a distinct possibility that what someone might be referring to when discussing a “1776 silver coin” is the 1776 Continental Dollar. This coin is a monumental piece of American numismatic history and is central to any discussion about 1776 20 dollar silver coin value, even though it was a dollar, not twenty dollars.
The Continental Dollar is believed to be the first pattern coin struck for the United States, proposed as a circulating medium during the Revolutionary War. While most known examples are made of pewter or brass, a very small number were struck in silver. These silver Continental Dollars are exceedingly rare, with only a handful confirmed to exist. Some experts suggest there might be as few as two genuine silver Continental Dollars known today.
Features of a Genuine 1776 Continental Dollar:
- Obverse: Features a sundial with the Latin motto “FUGIO” (I Fly) and “MIND YOUR BUSINESS” below it. The date “1776” is prominently displayed.
- Reverse: Displays 13 interlocked circles, each bearing the name of one of the original colonies, surrounding a central circle with the inscription “AMERICAN CONGRESS” and “WE ARE ONE.”
- Edge: Plain.
- Material: While most are pewter, the silver examples are the most valuable.
If you possess what you believe to be a silver 1776 Continental Dollar, its 1776 20 dollar silver coin value (or rather, its 1776 silver dollar value) is potentially astronomical. For example, a genuine silver Continental Dollar was auctioned for a record $1,527,500 in 2015, highlighting the immense value of these historical artifacts. However, due to their extreme rarity and high value, counterfeits of the Continental Dollar are prevalent. Professional authentication is absolutely essential for any claimed silver example.
Common Misconceptions and What You Might Actually Have
Given that a true US-minted 1776 $20 silver coin does not exist, it is far more likely that what someone has encountered falls into one of the following categories, each with a very different 1776 20 dollar silver coin value.
1. Commemorative or Replica Coins
The most common reason for someone to believe they have a “1776 20 dollar silver coin” is often related to modern commemorative issues. The year 1976 marked the Bicentennial of American Independence, leading to the minting of numerous commemorative coins, medals, and replicas.
- 1976 Bicentennial Coins: The United States Mint issued special Bicentennial quarters, half dollars, and dollars in 1975 and 1976. These coins feature the dual date “1776-1976” and special reverse designs. While some were struck in a 40% silver clad composition (particularly for collector sets), none of these were $20 denominations. Their value is typically slightly above face value for circulating examples, or a few dollars for silver clad collector versions.
- Private Mint Commemoratives: Many private mints and companies produced commemorative coins and medals celebrating the Bicentennial. These often feature patriotic designs and the “1776” date, sometimes combined with “1976.” Some might even have a nominal face value or a stated silver content. Their 1776 20 dollar silver coin value is generally limited to their intrinsic metal value if they are silver, or a modest collector’s premium if they are well-preserved. For instance, a “Vintage 1776 Bicentennial Commemorative Liberty Head Silver Coin” might be available on platforms like eBay for around $25 USD, indicating it’s a privately issued piece, not a US government coin. Similarly, a “1776 Bicentennial Uncirculated Silver Set” might be sold for $20 USD, but this refers to a set of genuine US Bicentennial coins (quarters, halves, dollars) in silver, not a single $20 silver coin.
- Replicas/Fantasies: Some pieces are outright replicas or “fantasy” coins designed to look old or significant. These might bear the date 1776 and an arbitrary denomination. They are usually made of base metals and hold no numismatic value beyond their novelty.
When examining such coins, look for:
- Dual Date: “1776-1976” indicates a Bicentennial issue.
- Mint Marks: US Mint marks (P, D, S) for official issues.
- Metal Content: Check the edge for copper layers if it’s clad, or look for markings indicating “silver” or “plated.”
- Issuer: Is it clearly marked as a product of the U.S. Mint, or a private company?
2. Foreign Coins
While the US did not mint a $20 silver coin in 1776, other countries around the world certainly did issue silver coinage in that year. Some of these foreign coins might have denominations that, when translated to modern purchasing power or exchange rates, could approximate a “20 dollar” value.
For example, large silver trade coins like Spanish 8 Reales (often called “Spanish Dollars”) were widely circulated globally, including in the American colonies. While an 8 Reales coin from 1776 would not be a “$20” coin, its historical significance and silver content give it value. Other European nations also minted substantial silver coins.
- Example: A “1776 Dutch Colonial Silver Leg Dollar” might be listed for $999 USD. This is a genuine historical coin from a different issuing authority, and its value is based on its rarity, condition, and historical context within that specific country’s coinage.
If you have a coin dated “1776” that is clearly not a US coin, research its country of origin and denomination. Its 1776 20 dollar silver coin value would then depend on the specific foreign coin’s rarity, condition, and market demand among collectors of that particular series.
How to Determine the Value of Your Coin
Given the complexities, accurately determining the 1776 20 dollar silver coin value of any coin you possess requires a systematic approach.
1. Careful Examination
Begin by thoroughly examining the coin. Use a magnifying glass to discern fine details.
- Date: Is it precisely “1776” or “1776-1976”?
- Denomination: What numbers or words indicate its value? Is it “$1,” “20,” “XX,” “VIII Reales,” or something else?
- Metal: Does it look like silver, or does it have a copper core (indicating clad)? Is it magnetic (which would rule out silver)?
- Mint Marks: Are there any small letters (like “P,” “D,” “S,” or foreign mint marks) on the coin?
- Design: What are the images and inscriptions? Are they clearly American, or do they depict foreign monarchs or symbols?
- Edge: Is the edge reeded, plain, or lettered?
2. Research and Identification
Based on your observations, try to identify the specific type of coin.
- Online Resources: Websites like PCGS, NGC, and reputable numismatic databases offer extensive catalogs of US and world coins. Use keywords like “1776 coin,” “Continental Dollar,” “Bicentennial coin,” or the specific foreign country and date.
- Coin Catalogs/Books: Standard references like A Guide Book of United States Coins (the “Red Book”) are invaluable for identifying US coins and providing estimated values. World coin catalogs can help with foreign issues.
- Look for Errors/Varieties: Sometimes, minting errors (e.g., doubled dies, off-center strikes) or known varieties can significantly increase a coin’s value. Compare your coin to known examples.
3. Professional Authentication and Appraisal
This is the most critical step, especially if you suspect you have a genuine 1776 Continental Dollar or another highly valuable coin.
- Reputable Coin Dealer: Visit a local coin dealer with a strong reputation. They can often provide an initial assessment and help you identify the coin.
- Professional Grading Services: For definitive authentication and grading, submit your coin to a third-party grading service like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company). These services employ experts who can verify authenticity, assign a grade (which directly impacts value), and encapsulate the coin in a tamper-evident holder. This process is essential for selling rare coins, as it provides buyers with confidence.
Warning: Be very wary of individuals or unofficial appraisers who offer quick, high valuations without proper authentication or who pressure you to sell immediately. Counterfeits are a significant problem in the rare coin market.
Factors Influencing Coin Value
Once a coin’s type and authenticity are established, several factors contribute to its overall 1776 20 dollar silver coin value (or any coin’s value):
- Rarity: How many examples of this coin exist? The fewer there are, the higher the potential value. The silver Continental Dollar is a prime example of extreme rarity driving value.
- Condition (Grade): The state of preservation is paramount. Coins are graded on a scale from Poor (P-1) to Perfect Mint State (MS-70). Higher grades for rare coins can mean exponential increases in value. Wear, scratches, dents, cleaning, or environmental damage can significantly decrease value.
- Metal Content: For common silver coins, the intrinsic melt value of the silver can be a baseline. However, for numismatic coins, the collector’s value far surpasses melt value.
- Historical Significance: Coins tied to pivotal historical events or figures often command higher premiums.
- Demand: The current market demand from collectors for a specific coin type also plays a role.
Conclusion
The notion of a “1776 20 dollar silver coin” is largely a misconception, as the United States did not issue such a denomination in silver during that inaugural year. The closest genuine US-related silver coin from 1776 is the incredibly rare 1776 Continental Dollar, which, if authentic and in silver, commands an extraordinary value, potentially well over a million dollars.
However, it is far more probable that any coin encountered with a “1776” date and a silver appearance is either a modern commemorative coin (especially from the 1976 Bicentennial), a replica, or a genuine foreign coin from that era. The 1776 20 dollar silver coin value for these pieces will be significantly lower, ranging from a few dollars to several hundred or a few thousand, depending on their specific type, condition, and actual silver content.
The primary step in determining the true 1776 20 dollar silver coin value of any such coin is accurate identification and, for potentially valuable pieces, professional authentication. Without these crucial steps, any valuation remains speculative.
How much is a 1776 twenty dollar coin worth?
These “coins” were made around 1976 for the Bicentennial. They are gold plated base metal and were sold as costume jewelry. Whether they are technically counterfeits or not is debatable, since the United States never made a 1776 $20 gold coin. Undamaged and in the bezel, the value is perhaps $10–$15.
What makes a 1776-1976 silver dollar rare?
Good point! One silver dollar – one of the rarest of all modern coins – has no mint mark. 1976 MS 65 – No S Proof 1776 – 1976 Silver Dollar Value: $850,000 Is it talking about and entirely 100% silver dollar? It is referring to a silver (it would be 90% solid silver) one minted in San Francisco that was missing the mint mark.