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

3406

1931 $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
1931 $20 MS65 PCGS
<B>1931 $20 MS65 PCGS.</B></I> The 1931 Saint-Gaudens double eagle, one of several challenging Great Depression-era double eagle issues, is a prime rarity despite a mintage that approaches 3 million coins. It has been recognized as an important issue nearly since the time it was released, or rather, not released. Few of those coins struck actually left the Mint. Most were stored in vaults and eventually melted after the gold recall a couple years later. Collectors quickly acquired the few examples that found their way out of the Mint. Nearly every known survivor grades at least MS60, and a grade of MS64 is typical. Only a few are known in higher grades, including three pieces in the Smithsonian Institution (one MS67 and two MS65), three examples formerly in the Philip Morse Collection (MS67, 66, and 65), and high grade coins once owned by Jeff Browning, Thaine Price, and the Norweb family.<BR> The exact number of survivors is not known, but is probably in the range of 50 to 60 coins, as estimated by David Akers in his reference on double eagle auction records. Dave Bowers suggested a higher total in his <I>Guide Book</B></I> to the series, between 80 and 120 Mint State examples, and another five to eight coins in lower grades. His estimates illustrate the rarity of circulated coins. <BR> Every author or numismatist has an opinion about the rarity of the 1931 double eagle. In the <I>Encyclopedia of U.S. Gold Coins</B></I>, Jeff Garrett and Ron Guth write: "As the depression in America deepened in the early 1930s, the Philadelphia Mint coined a substantial number of new double eagles during 1931. These sat around unwanted in Treasury or bank vaults, only to be gathered up a few years later and melted. Virtually the entire mintage was wiped out, leaving perhaps 200 to 300 surviving pieces."<BR> These various opinions lead to disagreement about the true rarity of the date. In <I>The Coinage of Augustus Saint-Gaudens</B></I>, James Halperin and the Heritage staff comment: "the 1931-P is probably the one with the least clearly-defined relative rarity ranking."<BR> The present piece is a lovely Gem with frosty yellow-gold luster and few blemishes or imperfections on either side. All of the design elements are boldly rendered, and the overall eye appeal is excellent. When seeking an example of the 1931 double eagle, patience and discipline are two of the collector's strongest allies, but equally important is recognizing the "right" coin and pursuing it. This example has the potential to satisfy the discerning numismatist's needs.<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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