There are currently no items available for purchase in this Department. Search our Auction Archives below to find item values.
Opening Bid
:
Current Bid:
Reserve Amount:

You are the current high bidder on this lot with a secret maximum bid of %bidPretty%.
(%bidBP% w/Buyer's Premium (BP) ).


Notice: You are the current high bidder on this lot, but the next highest bid is within one increment. That means that any additional bids on this lot will outbid you. To increase your chances of winning, enter your highest maximum bid.

You are the current high bidder on this lot with a secret maximum bid of %bidPretty%.
(%bidBP% w/Buyer's Premium (BP) ).

You are the current high bidder on this lot.
(Sign-In to see your maximum bid)

Your secret maximum bid of %bidPretty% has been outbid.

Your secret maximum bid of %bidPretty% does not meet the reserve.

(Sign-In to see your maximum bid)

Your secret maximum bid does not meet the reserve.
(Sign-In to see your maximum bid)

Lot
2352

1920-S $20 MS64 PCGS....

2010 April-May Milwaukee, WI CSNS US Coin Auction #1139

 
Sold for: Sign-in or Join (free & quick)
Claim Item: Sign-in or Join (free & quick)
Auction Ended On: Apr 29, 2010
Item Activity: 10 Internet/mail/phone bidders
10,576 page views
Location:

The Midwest Airlines Center
400 West Wisconsin Avenue
Milwaukee, WI 53203

Description:

1920-S Saint-Gaudens Twenty, MS64
Superb Luster, Color, and Strike
One of the Keys to the Series
1920-S $20 MS64 PCGS. A prized rarity in the Saint-Gaudens double eagle series, the 1920-S holds a unique historical position in that assemblage. Before the United States entered the First World War, gold twenties actually circulated in the western part of the country. Coins from that early period are more available today than many later dates, such as the 1920-S. The war brought inflation, with consequent rising prices in gold and other metals. Double eagle production in San Francisco was halted in 1916 and did not resume until 1920. A large mintage of 558,000 pieces was produced at the San Francisco Mint that year, but the commercial role of the double eagle had changed. The big gold coins no longer circulated freely, and ordinary citizens seldom saw them. Instead, the government and the banking system kept the coins in reserve.
They served two purposes: The government used some, stored in mint bags, to redeem Gold Certificates. Other coins were used as specie payments to foreign governments and banks. Private ownership of gold was essentially illegal after the Gold Recall Act of 1933. Most of the government-held coins were melted in 1937, converted into gold bars, and transported to Fort Knox. The coins used in international trade largely escaped this fate, and many of them were found decades later in European banks. Enough circulated specimens of the 1920-S exist to suggest that a few bags may have reached circulation, but examples have never been readily available. Almost all of the mintage was melted. The 1920-S issue was the earliest date subject to this destruction, and it is demonstrably scarce today.
Collecting large-denomination gold coins became popular for the first time during the 1940s. Some of the greatest collections of that era included specimens of the 1920-S double eagle. One appeared in the Belden E. Roach Collection (Mehl, 2/1944), lot 262. Mehl's terse lot description reads, "Uncirculated, sharp, with full mint luster. Scarce." Similar brief descriptions were noted in the J.F. Bell Collection (Stack's, 12/1944), lot 986, and in the World's Greatest Collection (Numismatic Gallery, 1/1946), lot 1026. These early appearances helped establish the 1920-S as a rare and desirable coin, but it was the Dr. Charles W. Green Collection (Mehl, 4/1949), lot 877 that really put the coin on the map.
Mehl's lot description expanded to eight lines on this occasion. He noted that Dr. Green had purchased the coin at the Bell sale for $160 and asserted it was, "One of the most difficult dates and mints of the Double Eagles to obtain." The Green sale had a dramatic effect on double eagle collecting in general. To quote David Bowers in A Guide Book of Double Eagle Gold Coins, "Collectors and dealers went wild, and great interest was focused on later-date mintmarked double eagles. It is likely that at least several dozen collectors decided to make this a specialty." The numismatic public became aware of the scarcity of the later-date double eagles for the first time, and demand for them has increased steadily until the present day.
In recent times, many numismatic scholars have studied the rarity of the 1920-S. Walter Breen estimated that less than a dozen examples survived, a figure demonstrably too low in view of current population data. David Akers considers the issue to be the seventh rarest in the Saint-Gaudens double eagle series. In his 2006 book mentioned above, Bowers estimated that there were 45-60 circulated specimens extant, and perhaps 40-60 examples in Mint State grades. The current population reports from NGC and PCGS reflect a combined total of 25 examples in MS64, with only eight finer. Clearly, at the near-Gem level, the date is rare. The two finest-known coins are the MS66 Duckor example and the MS66 Eliasberg/Duckor/Morse coin. Only four coins are currently certified at the Gem level, so trying to improve on the present coin's MS64 grade will be a daunting challenge.
The present coin is a dazzling example of this rare and popular date. The surfaces display soft, frosty luster with a better than average strike. Crisp detail appears on the berries on the olive branch, and the pillars of the Capitol building can be individually counted--areas frequently soft on this issue. Few abrasions show for the grade, although a planchet void near the eagle's beak serves as a pedigree marker. The surfaces have attractive, reddish patina yielding to olive at the rim. Outstanding eye appeal, rarity, and historical importance make this a prize for the discerning collector. Population: 12 in 64, 6 finer (2/10).
Ex: Long Beach (Heritage, 6/2000), lot 7702; Philadelphia 2000 (Heritage, 8/2000), lot 7599; Benson II (Goldberg, 2/2002), lot 2271.
From The Carter Family Collection.(Registry values: N10218) (NGC ID# 26FZ, PCGS# 9171)

View all of [The Carter Family Collection ]
View large image(s) of this item

Service and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  | PCGS Guarantee of Grade and Authenticity  |  Terms and Conditions

Bidding Guidelines and Bid Increments

The Coinage of Augustus Saint-Gaudens as Illustrated by the Morse and Duckor Collections
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

Guides and Pricing Information:

Previous Prices from Heritage Auctions
Sign-in or Join (free & quick)
Price Guide
Sign-in or Join (free & quick)
Population Guide
Sign-in or Join (free & quick)
Find Auction Prices for Comparable Items:

Photographs:
Sign-in or Join (free & quick) to see the full image




Videos:
FLOOR AUCTIONS View All
Open For Bidding
Coming Soon
HERITAGE MEMBERSHIP
878,076
bidder-members
$961,669,944
sold in the last year
VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 
CONSIGNMENTS WANTED
Consign to the 2015 January 4 - 5 World & Ancient Coins Signature Auction - New York.
Learn About Consigning With Us
I would also like to thank your auction company for the promotion of the auction and was pleasantly surprised by the number of bidders who attended, as well as the prices realized. It was a pleasure doing business with you.
[ Entire Letter » ]
Warren Miller
HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com
Take our 2014 Coin
and Currency Survey
Grand prize:
A Certified Uncirculated
1907 High Relief $20!*
Take the Survey
HERITAGE VIDEO TUTORIAL
GETTING THE MOST OUT OF SEARCH
RECENT AUCTIONS
2014 July 10 - 13 Summer FUN US Coins Signature Auction - Orlando
2014 July 10 - 13 Summer FUN US Coins Signature Auction - Orlando
REALIZED $9,733,594
2014 April 10-12 & 15-16 CICF World and Ancient Coins Signature Auction - Chicago
2014 April 10-12 & 15-16 CICF World and Ancient Coins Signature Auction - Chicago
REALIZED $14,773,379
2014 April 24 & 28  CSNS World Currency Signature Auction - Chicago
2014 April 24 & 28 CSNS World Currency Signature Auction - Chicago
REALIZED $2,708,143