LOT Old Heritage Auctions  /  2008 Jan. FUN Signature Coin Auction #454  / 

3402

1929 $20 MS65 PCGS

Currency:USD Category:Coins & Paper Money / US Coins Start Price:77,500.00 USD Estimated At:1.00 - 1,000,000.00 USD
1929 $20 MS65 PCGS
<B>1929 $20 MS65 PCGS.</B></I> Many issues of Saint-Gaudens twenties were heavily melted--some obviously more than others. The 1929 was one of the dates most affected in terms of percentage remaining vs. original mintage. Over the past few years a few examples have apparently come out of European banks, although we do not have any firm information about this. In an article in the October 24, 2006 issue of <I>Numismatic News </B></I>it was explained in part:<BR> <BR> "Every date after 1928 was apparently a melting victim, starting with the 1929, which had a mintage of 1,779,950, which should certainly not make it a $4,750 VF-20, $13,500 in MS-60 and $70,000 in MS-65 coin today.<BR> "With the large mintage, at least a few examples of the 1929 did reach circulation and PCGS reports 166 coins, which is reflected in the prices. There are, however, virtually no circulated examples.<BR> "While not at the top of the list in terms of dates destroyed, the large mintage of the 1929 suggests that in terms of actual numbers it might well have been one of the dates most heavily destroyed. Our supply today appears to be in large part thanks to examples found in European banks. While the 1929 is expensive, the situation could have actually been much worse."<BR><BR> There is a precipitous drop off in availability between MS64 and MS65 grades. PCGS has certified 87 pieces in MS64 and only 22 in MS65 with another five pieces in MS66. This coin has lovely frosted mint luster and each side shows even reddish patina. As one would expect, there are no mentionable abrasions on either side of this magnificent coin. Fully struck also.<BR><BR><B>Coin Engraver:</B> Augustus Saint-Gaudens<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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