1920-S $20 MS64+ PCGS Secure. CAC....
Bid InformationFor your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.
Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of BiddersThis number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
BP - Buyer's Premium per LotA Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $14) per lot. Please see #2 in our Terms & Conditions.
Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
- There is no penalty for paying off early.
- Non-dealers only
- With pre-approved credit application
- Get pre-approved by filling out a credit application.
- Bid normally and win some lots.
- When you get your electronic invoice, select "other" from the payment options.
Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- Minimum down payment is 20%.
- There is no penalty for paying off early.
- Non-dealers only
SMS Alerts- Receive a text message approximately 35 lots ahead of your item being up for bidding at auction, with a link to bid in Heritage Live in the text message. Haven't registered? Visit MyProfile to sign-up for free by entering your mobile number. The green icon indicates Live Bidding Text Alerts are on for that lot. Live Bidding Text Alerts are only available for lots in live sessions.
|Sold for:||Sign-in or Join (free & quick)|
|Claim Item:||Sign-in or Join (free & quick)|
|Auction Ended On:||Aug 11, 2010|
6 Internet/mail/phone bidders
1,107 page views
Hynes Convention Center
Earliest Date to be Extensively Melted
Prime Absolute and Condition Rarity
The 1920-S suffered the same fate as many other issues in the series, being held in Treasury vaults and domestic banks until the Gold Recall of 1933, after which nearly the entire mintage was melted. The 1920-S is the earliest date to be melted in such quantities, and while the later dates in the series were recognized as rarities early on, the true rarity of the 1920-S was not fully appreciated until the late 1940s. Probably the first auction appearance of the 1920-S was in Sale Number 399 (Morgenthau, 5/1939), lot 546, "1920 S Uncirculated and very scarce." The lot realized $45, a respectable sum, but a far cry from the $260 realized by the 1921 in the same sale. The elusive nature of the 1920-S gradually became clear as collectors studied the series closely. By the time the coin sold in lot 2141 of the Frederic Geiss Collection (B. Max Mehl, 2/1947), the cataloger related:
"1920 A perfect uncirculated specimen of a real rarity. For some reason it was overlooked by the publishers of the Standard Catalog and only listed in 1946 at $65.00, although a specimen in 1944 brought $160.00, and another specimen, offered in January, 1946, brought $250.00. It is a real rarity and certainly worthy of its highest auction record, and then some."
The lot lived up to Mehl's expectations, realizing $285. Note that Wayte Raymond was the publisher of the Standard Catalog and a principal of the Morgenthau firm. He probably based his 1946 catalog price on the coin's performance in his 1939 auction. Of course, modern collectors appreciate the rarity of this issue even more than numismatists in Mehl's day, and auction prices realized have climbed steadily over the years. When the magnificent MS66 PCGS specimen sold in the Phillip H. Morse Collection (Heritage, 11/2005), it realized $517,500.
The present coin is a delightful MS64+ specimen, with pleasing greenish-gold surfaces and a sharper strike than normally seen on the 1920-S. The Capitol building shows just a touch of softness, but this is almost diagnostic for the issue. The mint luster is full and frosty, and the outstanding eye appeal is attested by the CAC sticker. Only a few minor handling marks are evident, clustered around Liberty's right (facing) arm, and they do not detract from the coin's tremendous visual appeal.
Rather than rely on population data, which has been inflated by resubmissions and crossovers, we have compiled a roster of known specimens of the 1920-S in MS64 or better condition, to obtain an accurate picture of its status as a condition rarity. Our findings indicate there are two coins in collectors' hands that grade MS66, another two specimens in Gem condition, and eight examples at the Choice level. There are also two high-grade pieces in institutional holdings. Compare those totals to the celebrated 1927-D, which is known to have one MS67 representative, eight MS66 specimens, one MS65 piece, two MS64 coins, and one circulated example. The status of the 1920-S as a condition rarity seems fully established.
The following roster of MS64 and finer specimens has been compiled from a study of auction records and private transactions over the past two decades.
1. MS66 PCGS. Louis Eliasberg; The United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 1051, not certified at the time, graded Select Brilliant Uncirculated by the cataloger; Dr. Steven Duckor; Phillip H. Morse; The Phillip H. Morse Collection (Heritage, 11/2005), lot 6641 (realized $517,500).
2. MS66 PCGS. A coin with an unknown pedigree sold by Todd Imhof of Heritage Auction Galleries to Dr. Steven Duckor in early 2006.
3. MS65 PCGS. Jeff Browning; The "Dallas Bank" Collection (Sotheby's/Stack's, 10/2001), lot 185, not certified at the time, graded Gem Brilliant Uncirculated by the cataloger; Pittsburgh ANA (Heritage, 8/2004), lot 7782; "Dr. EJC" PCGS Registry Set Collection; (the Akers and Bowers plate coin).
4. MS65 PCGS. Milwaukee ANA (Heritage, 8/2007), lot 2074, (realized $264,500).
5. MS64 PCGS. Reed Hawn Collection (Stack's, 10/1993), lot 1118, not certified at the time, graded Choice Brilliant Uncirculated by the cataloger; Long Beach Signature (Heritage, 6/2000), lot 7702; Philadelphia ANA (Heritage, 8/2000), lot 7599; Benson Part II (Goldberg, 2/2002), lot 2271; Dallas Signature (Heritage, 10/2008), lot 2486; Los Angeles ANA (Heritage, 7/2009), lot 1128; CSNS Signature (Heritage, 4/2010), lot 2352.
6. MS64 PCGS. Dr. Thaine B. Price Collection (Akers, 5/1998), lot 100, not certified at the time, graded Very Choice Uncirculated by the cataloger; Dr. Richard Ariagno Collection (Goldberg, 5/1999), lot 895; FUN Signature (Heritage,1/2003), lot 9326; San Francisco ANA (Heritage, 7/2005), lot 10428; Long Beach Signature (Heritage, 9/2009), lot 1129.
7. MS64 PCGS. Phillip H. Morse Collection (Heritage, 11/2005), lot 6642; Pre-Long Beach Auction (Goldberg, 9/2007), lot 3523.
8. MS64 PCGS. FUN Signature (Heritage, 1/2007), lot 3287; FUN Signature (Heritage, 1/2010), lot 2314.
9. MS64 PCGS. The Rarities Sale (Bowers and Merena, 10/2004), lot 940.
10. Very Choice Uncirculated 64. Auction '90 (Akers, 8/1990), lot 1988.
11. MS64 PCGS. FUN Signature (Heritage, 1/2010), lot 2313.
12. MS64+ PCGS. The present coin. Provenance unknown.
Other Known Specimens:
A. A coin in the collection of the American Numismatic Society, reported as a Superb Gem by Jeff Garrett and Ron Guth.
B. A coin in the National Numismatic Collection, Smithsonian Institution, reported to grade at least MS64 by Garrett and Guth.
From The Bob Simpson Collection.(Registry values: N10218) (NGC ID# 26FZ, PCGS# 9171)
Service and Handling Description: Coins & Currency (view shipping information)
Revised Edition by James L. Halperin, Mark R. Borckardt, Mark Van Winkle, Jon Amato, and Gregory J. Rohan, with special contributor David W. Akers
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
two extraordinary collections: The Phillip H. Morse collection and the Dr. and Mrs. Steven L. Duckor collection.
Order Now! Just $95