Heritage World Coin Auctions
Long Beach Signature US Coin Sale 1252 16-17 Feb 2017
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Saint-Gaudens Double Eagles
1921 $20 MS62 PCGS. The 1921 Saint-Gaudens double eagle is a rare issue in all grades and it ranks as the premier condition rarity of the series. Only four business-strike examples have been certified in Gem or better condition, making the 1921 less available in high grade than such acknowledged rarities as the 1927-D and the famous Ultra High Relief. Even MS64 specimens are great rarities and MS62 through MS63 coins are seldom encountered. The 1921 is one of the few dates of the series that is actually seen more often in circulated grades than Mint State.
No double eagles were struck at any U.S. mint in 1921 until November 25. Collectors trying to obtain an example during most of the year were told that none had been struck and there were no plans to strike twenty dollar coins that year. In late-November, it was deemed necessary to strike a small mintage of 90,000 double eagles at the Philadelphia Mint to serve as currency reserves for gold certificates that the government had issued. A larger mintage was achieved in December, bringing the yearly total to a respectable 528,500 pieces. However, these coins were strictly intended to serve as currency reserves, and none were released into circulation. Only a few well-connected collectors were able to secure high-grade specimens of the 1921 near the time of issue. These were acquired in clandestine transactions with Mint personnel or Treasury officials, like Dr. Thomas Louis Comparette, the curator of the Mint Cabinet.
The situation was much different in the following years, and large mintages of double eagles were reported in most years of the 1920s. Eventually, a small number of 1921 double eagles was released into circulation because coins with other dates were available to serve their purpose as currency reserves. The bulk of the coins we know about today come from these later releases, and most show minor signs of circulation or extensive contact marks from rough handling during storage. Probably no more than 40-60 examples survive in all Uncirculated grades, with most examples grading no better than MS62. Many examples seen have lackluster surfaces, although the high-grade coins that are known have exceptional luster. The 1921 is usually sharply detailed, and the generally seen poor luster characteristics are most likely the result of mishandling over the years, rather than poor production values. In general, the 1921 was a well-produced issue, but finding an attractive specimen, without excessive surface marks, is one of the most difficult challenges in 20th century numismatics.
The present coin is an attractive MS62 specimen, with sharply detailed design elements and vibrant mint luster throughout. Some prominent die cracks extend through the letters in LIBERTY at the top of the obverse. The pleasing orange-gold surfaces show a few hints of red and display the minimum number of scattered, minor contact marks for the grade. The overall presentation is quite attractive for this classic gold rarity. Population: 22 in 62, 17 finer (1/17).
1921 $20 MS62 PCGS. The 1921 Saint-Gaudens double eagle is a rare issue in all grades and it ranks as the premier condition rarity of the series. Only four business-strike examples have been certified in Gem or better condition, making the 1921 less available in high grade than such acknowledged rarities as the 1927-D and the famous Ultra High Relief. Even MS64 specimens are great rarities and MS62 through MS63 coins are seldom encountered. The 1921 is one of the few dates of the series that is actually seen more often in circulated grades than Mint State.
No double eagles were struck at any U.S. mint in 1921 until November 25. Collectors trying to obtain an example during most of the year were told that none had been struck and there were no plans to strike twenty dollar coins that year. In late-November, it was deemed necessary to strike a small mintage of 90,000 double eagles at the Philadelphia Mint to serve as currency reserves for gold certificates that the government had issued. A larger mintage was achieved in December, bringing the yearly total to a respectable 528,500 pieces. However, these coins were strictly intended to serve as currency reserves, and none were released into circulation. Only a few well-connected collectors were able to secure high-grade specimens of the 1921 near the time of issue. These were acquired in clandestine transactions with Mint personnel or Treasury officials, like Dr. Thomas Louis Comparette, the curator of the Mint Cabinet.
The situation was much different in the following years, and large mintages of double eagles were reported in most years of the 1920s. Eventually, a small number of 1921 double eagles was released into circulation because coins with other dates were available to serve their purpose as currency reserves. The bulk of the coins we know about today come from these later releases, and most show minor signs of circulation or extensive contact marks from rough handling during storage. Probably no more than 40-60 examples survive in all Uncirculated grades, with most examples grading no better than MS62. Many examples seen have lackluster surfaces, although the high-grade coins that are known have exceptional luster. The 1921 is usually sharply detailed, and the generally seen poor luster characteristics are most likely the result of mishandling over the years, rather than poor production values. In general, the 1921 was a well-produced issue, but finding an attractive specimen, without excessive surface marks, is one of the most difficult challenges in 20th century numismatics.
The present coin is an attractive MS62 specimen, with sharply detailed design elements and vibrant mint luster throughout. Some prominent die cracks extend through the letters in LIBERTY at the top of the obverse. The pleasing orange-gold surfaces show a few hints of red and display the minimum number of scattered, minor contact marks for the grade. The overall presentation is quite attractive for this classic gold rarity. Population: 22 in 62, 17 finer (1/17).