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Lot
5111

1924-S $20 MS65 NGC....

2012 January 4-8 US Coins & Platinum Night FUN Signature Auction- Orlando #1166

 
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Auction Ended On: Jan 5, 2012
Item Activity: 9 Internet/mail/phone bidders
714 page views
Location: Orange County Convention Center
North/South Building
9899 Universal Blvd.
Hall SB - South Building
Orlando, FL 32819

Description:
Gem 1924-S Double Eagle
Historic Condition Rarity
Only One Finer Coin at NGC
1924-S $20 MS65 NGC. The 1924-S Saint-Gaudens double eagle claims a mintage of more than 2.9 million pieces, but the issue is scarce in all grades in today's market, and coins at the Gem level are major rarities. Most of the large mintage was melted after the Gold Recall of 1933, making the reported production figures totally irrelevant. In fact, during the decade of the 1940s, the 1924-S was regarded as the rarest date of the series, with prominent coin dealers like B. Max Mehl and Abe Kosoff estimating the surviving population at just 3-6 pieces. Fortunately for present-day collectors, a number of coins were discovered in European banks, beginning in the 1950s, causing the 1924-S and many other double eagle issues to become more available. Currently, NGC and PCGS have certified nearly 1,000 coins in all grades, but that total undoubtedly includes many duplicate submissions.
On the other hand, when collectors seek a truly high-quality example of the 1924-S, they find the situation has changed little from the early days of the 1940s. The coins found in European holdings were subjected to the rigors of transport and storage in bags with other large gold coins. Few examples escaped without significant surface marks, and the great majority are in lower Uncirculated grades, below MS64. At the Gem level, the same handful of pristine survivors that were in the hands of collectors in the 1940s constitute the available supply. NGC has certified 19 specimens in Gem condition, with a single example in MS66, while PCGS has graded only two coins in MS65, with a single piece finer at MS67 (11/11). Even these small totals probably include some resubmissions and crossovers.
The present coin is a spectacular Gem, with well-detailed design elements and vibrant mint luster. The light orange-gold surfaces display attractive rose highlights, and only the most minor signs of contact are evident. As in the historic days of the 1940s, specimens of this quality are seldom encountered. The discerning collector should bid accordingly.
Seller is donating a portion of their proceeds, and Heritage is donating the same portion of the Buyer's Premium, from the sale of this lot to the National Numismatic Collection at the Smithsonian Institution. See page 3 for details.(Registry values: N7079) (NGC ID# 26G9, PCGS# 9179)

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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.

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