1850 Liberty Head Gold Dollar
In mid-1849, legislation was approved to begin minting the $20 Liberty gold coin. At least two coins were minted in December of 1849; one is now located in the Smithsonian. Introduced into circulation in 1850, the $20 Liberty immediately became the largest denomination of all regular U.S. coins to date. The new $20 gold coin was not common in day-to-day consumer transactions. Since $20 was a considerable amount of money in the 19th century, the $20 Liberty was usually used for bank-to-bank transfers and paying debts to foreign investors. In all, the $20 Liberty was minted at five different mints throughout its production.