Heritage World Coin Auctions
ANA Signature US Coin Sale 1258 2-6 Aug 2017
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Saint-Gaudens Double Eagles
1932 $20 MS64+ PCGS. The 1932 represents the final collectible regular issue double eagle in the Saint-Gaudens series. It is also among a group of late-date rarities constituting some of the most challenging issues in the set, and more broadly, in 20th century American coinage. While the intriguing history regarding the survival of the 1933 double eagles has attained near-legendary proportions, especially in recent years thanks to press coverage of the Switt-Langbord family saga regarding 10 examples confiscated by the federal government, the 1932 certainly holds its own as an important numismatic rarity.
By 1932 the unemployment rate was approaching 25%, wages were in freefall, and banks and businesses were failing left and right. The need for large denomination coins in circulation was minimal, and the 1.1 million double eagles struck in that year were purely intended to serve as currency reserves. However, those seeking an example for numismatic purposes could acquire various back-dated twenties, including the now-rare 1930s issues, from the Treasury Department for face value plus shipping and handling. Alternatively, individuals could go directly to the Treasury and exchange older double eagles for freshly minted coins at no extra charge. Mint and Treasury records examined by Roger W. Burdette indicate that just 113 1932 twenties were officially paid out in this manner. It is possible that a small number of additional coins were swapped by Treasury personnel for common-date twenties and sold to dealers and collectors for a premium.
As of (6/17), the total certified population shows 85 examples at PCGS and another 70 coins at NGC, certainly including numerous resubmissions. All certified examples survive in mint condition, ranging from MS60 to MS66. Breen (1988) wrote that perhaps 22 to 25 examples were extant, while Bowers (2004) estimated the number to be between 60 and 80 pieces. Contemporary estimates range from 85 to 100 coins across all grade levels. This example displays thick mint frost that is interrupted by only a few small abrasions. The mint luster is what really sets this piece apart and is responsible for the Plus designation by PCGS.
HID02901242017
1932 $20 MS64+ PCGS. The 1932 represents the final collectible regular issue double eagle in the Saint-Gaudens series. It is also among a group of late-date rarities constituting some of the most challenging issues in the set, and more broadly, in 20th century American coinage. While the intriguing history regarding the survival of the 1933 double eagles has attained near-legendary proportions, especially in recent years thanks to press coverage of the Switt-Langbord family saga regarding 10 examples confiscated by the federal government, the 1932 certainly holds its own as an important numismatic rarity.
By 1932 the unemployment rate was approaching 25%, wages were in freefall, and banks and businesses were failing left and right. The need for large denomination coins in circulation was minimal, and the 1.1 million double eagles struck in that year were purely intended to serve as currency reserves. However, those seeking an example for numismatic purposes could acquire various back-dated twenties, including the now-rare 1930s issues, from the Treasury Department for face value plus shipping and handling. Alternatively, individuals could go directly to the Treasury and exchange older double eagles for freshly minted coins at no extra charge. Mint and Treasury records examined by Roger W. Burdette indicate that just 113 1932 twenties were officially paid out in this manner. It is possible that a small number of additional coins were swapped by Treasury personnel for common-date twenties and sold to dealers and collectors for a premium.
As of (6/17), the total certified population shows 85 examples at PCGS and another 70 coins at NGC, certainly including numerous resubmissions. All certified examples survive in mint condition, ranging from MS60 to MS66. Breen (1988) wrote that perhaps 22 to 25 examples were extant, while Bowers (2004) estimated the number to be between 60 and 80 pieces. Contemporary estimates range from 85 to 100 coins across all grade levels. This example displays thick mint frost that is interrupted by only a few small abrasions. The mint luster is what really sets this piece apart and is responsible for the Plus designation by PCGS.
HID02901242017