For its day, the Liberty $5 Gold coin was a coin with a face value that was extremely large. Back in the day, $5 was a lot of money that had a lot of purchasing power. Nowadays, this coin is popular amongst collectors not only because of its gold content and related value, but also due to it no longer being produced. Being that it was produced for nearly 70 years, there are plenty of these coins on the market, but that will only remain true for a short period of time.
The Liberty $5 Gold coin is most often found in poor condition and because of that it becomes especially important for collectors to carefully analyze the coin prior to purchase. With all this being said, these coins are incredibly popular regardless of their condition to most every collector.