1. Condition: The coin's condition is crucial in determining its value. Coins graded by reputable grading services like the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC) are generally more valuable than ungraded coins. An 1878 Liberty Head Double Eagle in mint state (MS) or proof condition can command a higher premium.
2. Rarity: The mintage of the 1878 Liberty Head Double Eagle is essential. The Philadelphia Mint produced 1,545,000 pieces, while the San Francisco Mint struck 2,096,000 pieces. Coins with lower mintage numbers tend to be rarer and more valuable.
3. Type: There are two types of 1878 Liberty Head Double Eagles: regular circulation strikes and proof coins. Proof coins are minted with extra care and have a mirror-like finish. Proof coins are typically rarer and more valuable than regular circulation strikes.
4. Collectors' Demand: The overall demand for the 1878 Liberty Head Double Eagle among collectors also influences its value. These coins are popular due to their historical significance and the design featuring Liberty on the obverse and an eagle on the reverse.
Based on these factors, the value of an 1878 Liberty Head Double Eagle can range from a few thousand dollars to tens of thousands of dollars. It's always recommended to consult with reputable coin dealers or experts to get an accurate valuation of the coin based on its specific characteristics.