LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3287

1920-S $20 MS64 PCGS. The 1920-S double eagle, with an

Currency:USD Category:Coins & Paper Money / US Coins Start Price:120,000.00 USD Estimated At:1.00 - 2.00 USD
1920-S $20 MS64 PCGS. The 1920-S double eagle, with an
<B>1920-S $20 MS64 PCGS.</B></I> The 1920-S double eagle, with an original mintage of 558,000 pieces, has never been readily available. Most were apparently kept in government vaults until the 1930s, when nearly the entire mintage seems to have been melted. Gold specialist David Akers nicely summarizes the rarity of the 1920-S twenty in his catalog of the Dr. Thaine B. Price Collection (1998): "The 1920-S is one of the major rarities of the Saint-Gaudens series. All grades considered, probably no more than 80-100 examples exist and the majority of them are circulated with XF to AU specimens being typical. In the lowest mint state grades below Choice Uncirculated, the 1920-S is rare and seldom available, and in grades of Choice Uncirculated and Very Choice Uncirculated, the 1920-S is very rare. Gems are exceedingly rare with only 3-4 examples known, placing the 1920-S near the top of the Saint-Gaudens Double Eagle series with respect to condition rarity. In fact, only the 1921 Double Eagle is more rare in Very Choice or Gem Uncirculated condition than the 1920-S, although, of course, in overall population rarity, the 1920-S also does not compare to the 1927-D and 1907 Extremely High Relief. The 1920-S has been regarded as a rare issue since as far back as the 1930's, but it was not until quite a few years later that it was recognized as one of the premier rarities of the series. In the 1940's, the 1920-S was overshadowed by such issues as the 1921, 1924-S, 1925-D, 1926-D, 1926-S, 1927-D, 1927-S, 1930-S and 1931-D among others. However, unlike most of those issues, to the best of my knowledge, no hoard or even small group of this issue has ever been found. In fact, except for an occasionally newly discovered circulated piece, the known population of this issue has remained relatively unchanged for decades." With regard to this last point, David Bowers, in his 2004 <I>A Guide Book of Double Eagle Gold Coins,</B></I> states that: "Unlike some of the rarities of later years in the decade, the supply of 1920-S has not been augmented by hundreds or thousands of recent imports."<BR> PCGS/NGC population data generally corroborate Akers' estimates of extant 1920-S double eagles. To date (10/06), the above two services have certified only 144 '20-S twenties in all grades, some coins of which have likely been resubmitted. Of this number, 95 are Uncirculated, and only 34 have achieved the near-Gem or finer grade levels. Two examples are off the market: a Superb Gem in the American Numismatic Society cabinet, and a Smithsonian piece that grades "at least MS64" (Jeff Garrett and Ron Guth, <I>Encyclopedia of U.S. Gold Coins, 1795-1933,</B></I> 2006).<BR> The near-Gem specimen presented in this lot displays bright peach-gold surfaces that are imbued with just the slightest hint of mint-green undertones. Strike can be a problem on most 1920-S double eagles, and some minor softness is noted on the Capitol building of this example. All in all, though, the design features exhibit nice definition, particularly on the fingers of both hands, on the olive branch, and on the eagle's breast feathers. Both sides are well preserved, and appear to reveal fewer marks than what might be expected for the MS64 grade designation. A couple of minute contact marks on the reverse sun may help to pedigree this particular coin. Population: 16 in 64, 4 finer (10/06).<BR><I>From The Kutasi Collection.</B></I><BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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