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Lot: 2106
Auction: 1114   		1921 $20 MS64 PCGS. CAC. ...
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Ended: Jul 30, 2008
  Printable Version of Prices Realized for this Auction
 
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Description
Rare, High Grade 1921 Saint-Gaudens Twenty, MS64
One of the Finest Examples Known


1921 $20 MS64 PCGS. CAC. The 1921 is a classic rarity in the Saint-Gaudens double eagle series. It is comparable in overall rarity to the 1920-S, but is considerably more challenging as a condition rarity, especially in the better grades of Uncirculated. A few more coins in the XF-AU grade range are known of the 1921 (about 70 1921 specimens have been certified XF-AU by PCGS and NGC, as contrasted to approximately 50 XF-AU examples of the 1920-S), but there are only a handful of 1921 coins extant above MS63 (specifically, the services have graded five near-Gem and finer 1921 specimens, and 30 1920-S MS64 and better coins).
The reported mintage of the 1921 was 528,000 pieces, which is lower-than-average for the 1920s era, when totals of one million or more coins were common. Nevertheless, the figure was not so low to suggest that it would be a difficult date. In this regard, Paul Green, in an August 15, 2006 Numismatic News article entitled "1921 Double Eagle Survives in Low Numbers," writes:

"The 1921 was more than a decade before the Gold Recall Order and the melting that followed. It's easy to understand why a date in the 1930s might have been heavily melted, but it's less easy to figure out why the 1921 would have been melted in large numbers. After all, a number of dates produced after 1921 show little evidence of being heavily destroyed in the recall. The 1923, for example, had a nearly identical mintage (566,000 pieces), but there is no evidence of unusual melting...yet the 1923 is $850 in VF20, but the 1921 is priced at $12,000."

Approximately half of the extant 1921 double eagle population is located at the circulated grade levels, prompting Green to say: "The circulated numbers seen at both grading services suggest that the 1921 had a rather routine period, with some coins being released, although probably not all. There is reason to believe that a small number went overseas." If some of this issue did in fact go overseas, it must have been very small, as no appreciable hoards of the 1921 double eagle are known. Indeed, Walter Breen, in his 1988 Encyclopedia of U.S. and Colonial Coins, refers to "...about 5 from European sources since 1981." Along a similar vein, David Bowers, in his discussion of the 1921 in his 2004 treatise A Guide Book of Double Eagle Gold Coins, states: "While some have sneaked into the market in recent years, and offerings of the past decade are more numerous than in earlier times, no quantities of hundreds or more Mint State pieces have turned up, unlike the case for certain former rarities later in the decade."
The 1921 twenty was notably absent from the Dr. Thaine Price Collection, and that in the Browning Collection was a Choice AU. The Harry Bass and Henry Norweb collections each contained an MS63 example, and the Phillip Morse Collection included an MS64, an MS65, and an MS66. And according to Jeff Garrett and Ron Guth in their 2006 Encyclopedia of U.S. Gold Coins, 1795-1933, "...both the American Numismatic Society and the Smithsonian collection contain a superb Gem example of the date. Both were obtained from the Mint at the time of issue."
This near-Gem survivor displays a satiny overall sheen and strong cartwheel luster. An impressive strike is noted on the design elements, with especially strong definition on the Capitol building, Liberty's face and on the fingers of the left hand and the associated olive branch, and on most of the eagle's plumage. Rich green-gold and orange-gold colors blend together over the surfaces. Several scattered abrasions are not unusual for the assigned grade; a minute diagonal mark in the left obverse field and a couple more on the reverse sun are mentioned to help pedigree the coin in the future. This is an important bidding opportunity for either the double eagle or 20th century gold specialist. Housed in an earlier PCGS holder with a green insert. Population: 3 in 64, 4 finer (6/08).
Ex: Morse Collection (Heritage, 11/05), lot 6646.
From the Stephen Stokely Collection, Part Five.(Registry values: N14284) (#9172) View Entire Collection.
Auction Name: 2008 July-August Baltimore, MD (ANA) US Coin Signature Auction #1114
Description: Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type: Signature: !! Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.)

This lot is in:  Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-3497)
Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.

Item Activity: 9 Internet/mail bidders, 1,705 page views


The Coinage of Augustus Saint-Gaudens: as Illustrated by the Phillip H. Morse Collection
By James L. Halperin, Mark Van Winkle, Jon Amato and Gregory J. Rohan
The Coinage of Augustus Saint-Gaudens is an issue-by-issue examination of these two artistically inspired series of gold coins. Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published. The book is based on the extraordinary collection of Phillip H. Morse. When Morse's collection was sold in November 2005 it brought $19.2 million with many records broken for both rare and common coins.
Order Now! Just $75


Previous Prices from Heritage Auctions
Lot Date Grade Service Realized
Auction 438, Lot 2772 Saturday, June 2, 2007 64 PCGS $402,500.00
Auction 422, Lot 3288 Saturday, January 6, 2007 64 PCGS $373,750.00
Auction 392, Lot 6646 Thursday, November 3, 2005 64 PCGS $402,500.00
Auction 175, Lot 7883 Saturday, August 2, 1997 64 NGC $126,500.00
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PLEASE NOTE: All prices realized reflect the final hammer price PLUS the buyer's premium in auctions that charge a buyer's premium. Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium. Example: A item that sells with a final hammer price of $100 and a 15% buyer's premium will display with a price realized of $115. All information listed is intended to be as accurate as possible, but errors are possible. Please use this guide carefully and inform us of any inaccuracies.

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