LOT Heritage Rare Coin Galleries  /  2006 October Dallas Signature Coin Auction #428  / 

3656

1932 $20 MS65 PCGS. This is the final collectible date

Currency:USD Category:Coins & Paper Money / US Coins Start Price:22,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1932 $20 MS65 PCGS. This is the final collectible date
<B>1932<$20> MS65 PCGS.</B></I> This is the final collectible date in the double eagle series, although the term "collectible" is only relevant to those with a considerable numismatic budget. The mintage of this issue does not support its actual rarity, as over 1 million of these coins were actually produced, yet few survive. President Franklin D. Roosevelt took steps to outlaw the possession and use of gold coins the year after these pieces were struck, and few had actually been distributed. The remaining stock of 1932 double eagles and other gold coins that were still in Treasury vaults were melted, along with virtually the entire mintage of 1933 double eagles.<BR> In his <I>A Guide Book of Double Eagle Gold Coins,</B></I> author Q. David Bowers estimated that only about 60 to 80 of these 1932 double eagles still exist. He commented: "The 1932 is one of the most desired of all Saint-Gaudens double eagles, representing as the last readily collectible date. Somewhere between 60 to 80 different pieces are estimated to exist in numismatic hands, nearly all of which are Choice or Gem quality, lustrous, and very beautiful." Years earlier, Walter Breen took a much stronger position regarding rarity, suggesting that "possibly 22-25 survive" in his <I>Complete Encyclopedia of U.S. Coins.</B></I> Current population data from PCGS and NGC more closely support the Bowers estimate, with a total combined population of 124 coins. Regarding the grade distribution of these pieces, 112 out of these 124 certification events are in the MS63 to MS66 range with an average grade of MS64.2, meaning that this Gem MS65 piece is slightly above average for the date.<BR> This superlative Gem is sharply struck and it possesses exceptional aesthetic appeal with satiny yellow-gold luster and subtle pink coloration. Although a few tiny abrasions are evident in the fields and on the devices, the overall quality is fully consistent with the grade. Population: 17 in 65, 7 finer (9/06).
Sign In to Bookmark Lot