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FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Saint-Gaudens Double Eagles
1929 $20 MS65 PCGS. Nearly 1.8 million Saint-Gaudens double eagles were struck in the first half of 1929, in anticipation of a large demand for gold coinage in foreign trade. Unfortunately, the effects of the Great Depression were beginning to be felt and most of the large mintage was stored in Vault F at the Philadelphia Mint, in a rather inconvenient location. Following the principle of first-in, first-out, much of the enormous stockpile of double eagles from 1928 was used to satisfy the demand for foreign exchange and no 1929-dated coins were released to Federal Reserve Banks for commercial distribution. All the coins that remained in Mint custody were subsequently melted after the Gold Recall of 1933. Roger W. Burdette estimates no more than 350 specimens survive today in all grades, representing coins paid out to collectors or businessmen by the Treasurer's office in Washington, D.C., or the Cashier at the Philadelphia Mint.
All issues in the Saint-Gaudens series struck after 1929 are celebrated rarities in today's market, with the 1929 being the most available of the last five collectible issues (1929, 1930-S, 1931, 1931-D, and 1932) in terms of overall rarity. However, the 1929 is usually seen in lower Mint State grades, and both the 1931 and 1932 are more available at the Gem level. Few pieces have surfaced from European holdings, despite the rumored "English Hoard" of 40 examples, allegedly found by dealer Steve Fenton, but actually a totally fictional account that started as a private joke and made its way into the literature through Walter Breen's writings.
The present coin is a delightful Gem with sharply detailed design elements and vibrant mint luster throughout. The well-preserved orange-gold surfaces display only a few insignificant contact marks and overall eye appeal is terrific. Population: 28 in 65, 5 finer (10/16).
Selections From The Dr. James C. Kirk Collection of Saint-Gaudens Double Eagles.
1929 $20 MS65 PCGS. Nearly 1.8 million Saint-Gaudens double eagles were struck in the first half of 1929, in anticipation of a large demand for gold coinage in foreign trade. Unfortunately, the effects of the Great Depression were beginning to be felt and most of the large mintage was stored in Vault F at the Philadelphia Mint, in a rather inconvenient location. Following the principle of first-in, first-out, much of the enormous stockpile of double eagles from 1928 was used to satisfy the demand for foreign exchange and no 1929-dated coins were released to Federal Reserve Banks for commercial distribution. All the coins that remained in Mint custody were subsequently melted after the Gold Recall of 1933. Roger W. Burdette estimates no more than 350 specimens survive today in all grades, representing coins paid out to collectors or businessmen by the Treasurer's office in Washington, D.C., or the Cashier at the Philadelphia Mint.
All issues in the Saint-Gaudens series struck after 1929 are celebrated rarities in today's market, with the 1929 being the most available of the last five collectible issues (1929, 1930-S, 1931, 1931-D, and 1932) in terms of overall rarity. However, the 1929 is usually seen in lower Mint State grades, and both the 1931 and 1932 are more available at the Gem level. Few pieces have surfaced from European holdings, despite the rumored "English Hoard" of 40 examples, allegedly found by dealer Steve Fenton, but actually a totally fictional account that started as a private joke and made its way into the literature through Walter Breen's writings.
The present coin is a delightful Gem with sharply detailed design elements and vibrant mint luster throughout. The well-preserved orange-gold surfaces display only a few insignificant contact marks and overall eye appeal is terrific. Population: 28 in 65, 5 finer (10/16).
Selections From The Dr. James C. Kirk Collection of Saint-Gaudens Double Eagles.