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FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Saint-Gaudens Double Eagles
1927-S $20 MS64 NGC. The 1927-S Saint-Gaudens double eagle claims a really large mintage of more than 3.1 million pieces, but the issue has always been one of the most elusive keys to the series. The explanation for this contradictory situation lies in the distribution of the coins. Only 114 double eagles were held by the cashier of the San Francisco Mint to be paid out in ordinary business transactions. Another 3,055 examples were returned to the Philadelphia Mint cashier, after the Assay Commission finished testing for the year. Of these, if normal policies were followed, 3,000 coins were bagged and stored in the vaults, leaving 55 examples in the cashier's custody for everyday use. Thus, only 169 1927-S double eagles were available for over-the-counter exchanges with the cashiers at the two Mints. No group of coins was sent to the Treasury Department in Washington, D.C., although a handful of coins were sold there and distributed from the cashier's holdings at the Philadelphia Mint. Information from Mint records given to Dr. Charles W. Green in 1947 indicates that 3,750 coins were sent to Federal Reserve Banks for distribution from the government stockpile. The rest of the huge mintage was stored in Mint or Treasury vaults until after the Gold Recall of 1933, when the coins were destroyed. It is likely that the circulated examples we know about today were coins paid out by the Federal Reserve Banks, while the few high-grade specimens were obtained from the cashier's of the Mints by contemporary collectors. No more than 300 examples survive today in all grades.
The present coin is an impressive Choice example, with well-detailed design elements that show a touch of the usual softness on the fingers of the torch hand and the Capitol. A long die break on the reverse travels through the rays, through the eagle's beak, and on to U in UNITED. The well-preserved orange-gold surfaces radiate especially vibrant mint luster on both sides and eye appeal is terrific. Census: 17 in 64, 11 finer (10/16).
From The Renz Family Collection of $20 Gold Coins.
1927-S $20 MS64 NGC. The 1927-S Saint-Gaudens double eagle claims a really large mintage of more than 3.1 million pieces, but the issue has always been one of the most elusive keys to the series. The explanation for this contradictory situation lies in the distribution of the coins. Only 114 double eagles were held by the cashier of the San Francisco Mint to be paid out in ordinary business transactions. Another 3,055 examples were returned to the Philadelphia Mint cashier, after the Assay Commission finished testing for the year. Of these, if normal policies were followed, 3,000 coins were bagged and stored in the vaults, leaving 55 examples in the cashier's custody for everyday use. Thus, only 169 1927-S double eagles were available for over-the-counter exchanges with the cashiers at the two Mints. No group of coins was sent to the Treasury Department in Washington, D.C., although a handful of coins were sold there and distributed from the cashier's holdings at the Philadelphia Mint. Information from Mint records given to Dr. Charles W. Green in 1947 indicates that 3,750 coins were sent to Federal Reserve Banks for distribution from the government stockpile. The rest of the huge mintage was stored in Mint or Treasury vaults until after the Gold Recall of 1933, when the coins were destroyed. It is likely that the circulated examples we know about today were coins paid out by the Federal Reserve Banks, while the few high-grade specimens were obtained from the cashier's of the Mints by contemporary collectors. No more than 300 examples survive today in all grades.
The present coin is an impressive Choice example, with well-detailed design elements that show a touch of the usual softness on the fingers of the torch hand and the Capitol. A long die break on the reverse travels through the rays, through the eagle's beak, and on to U in UNITED. The well-preserved orange-gold surfaces radiate especially vibrant mint luster on both sides and eye appeal is terrific. Census: 17 in 64, 11 finer (10/16).
From The Renz Family Collection of $20 Gold Coins.