Heritage World Coin Auctions
FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Saint-Gaudens Double Eagles
1921 $20 MS61 PCGS. The important rarities of the Saint-Gaudens double eagle series are evident when one examines the PCGS population report. Excluding the Extremely High Relief and the 1933, just seven issues have total PCGS populations of less than 100 pieces, and the list is a "who's who" of the series: 1920-S (93 certified at PCGS), 1921 (97), 1927-D (9), 1930-S (47), 1931 (79), 1931-D (97), and 1932 (84). In addition to its absolute rarity, the 1921 is a condition rarity as only eight PCGS and NGC certified examples grade finer than MS63. The average certified grade at both services is 59.
The Philadelphia Mint produced a respectable quantity of 528,500 double eagles in 1921, a mintage that fails to explain the rarity of the issue. Economic conditions had worsened during the years following World War I, and there was little need for large gold coins in commerce when these pieces were minted. Most of those coins were tightly held in Mint vaults until the 1930s when they were thrown into the melting pot.
Several important collections lacked a 1921 double eagle, and others, such as the Dallas Bank Collection, had circulated examples. The Eliasberg Collection also had an example that was assigned a circulated grade. Market appearances are few and far between for this issue. Since 1993, we have offered just 70 examples of this date, an average of only three per year. Compare that to the common 1924 double eagle, where we average three per week.
This example, slightly finer than the average certified piece, exhibits frosty yellow-gold luster with scattered marks on each side as expected. The strike shows slight weakness at the lower left obverse and at Liberty's head, with generally fine details on the reverse. We expect that this piece will garner considerable bidding activity from advanced collectors who have patiently waited to find a suitable example. Population: 9 in 61, 38 finer (11/16).
1921 $20 MS61 PCGS. The important rarities of the Saint-Gaudens double eagle series are evident when one examines the PCGS population report. Excluding the Extremely High Relief and the 1933, just seven issues have total PCGS populations of less than 100 pieces, and the list is a "who's who" of the series: 1920-S (93 certified at PCGS), 1921 (97), 1927-D (9), 1930-S (47), 1931 (79), 1931-D (97), and 1932 (84). In addition to its absolute rarity, the 1921 is a condition rarity as only eight PCGS and NGC certified examples grade finer than MS63. The average certified grade at both services is 59.
The Philadelphia Mint produced a respectable quantity of 528,500 double eagles in 1921, a mintage that fails to explain the rarity of the issue. Economic conditions had worsened during the years following World War I, and there was little need for large gold coins in commerce when these pieces were minted. Most of those coins were tightly held in Mint vaults until the 1930s when they were thrown into the melting pot.
Several important collections lacked a 1921 double eagle, and others, such as the Dallas Bank Collection, had circulated examples. The Eliasberg Collection also had an example that was assigned a circulated grade. Market appearances are few and far between for this issue. Since 1993, we have offered just 70 examples of this date, an average of only three per year. Compare that to the common 1924 double eagle, where we average three per week.
This example, slightly finer than the average certified piece, exhibits frosty yellow-gold luster with scattered marks on each side as expected. The strike shows slight weakness at the lower left obverse and at Liberty's head, with generally fine details on the reverse. We expect that this piece will garner considerable bidding activity from advanced collectors who have patiently waited to find a suitable example. Population: 9 in 61, 38 finer (11/16).