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Lot
5317

1930-S $20 MS64 PCGS. A classic example of this rare date. David Akers considers the 1930-S to be the sixth rarest date of ...

2007 Long Beach, CA Signature Coin Auction #430

 
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Auction Ended On: Feb 16, 2007
Item Activity: 9 Internet/mail/phone bidders
6,837 page views
Location: Long Beach, CA
Description:
Choice Mint State 1930-S Double Eagle
1930-S $20 MS64 PCGS. A classic example of this rare date. David Akers considers the 1930-S to be the sixth rarest date of the series overall but notes that it does tend to come in Choice Uncirculated condition, as these simply never had a chance to circulate before all gold was called in by the U.S. government. Toned with copper-yellow over the luster, and very attractive. The surfaces are excellent for the grade, with minimal signs of handling. We note a minor copper spot where the first small branch extends off the main below Liberty's hand, and a couple more tucked into her dress folds. On the reverse there is one copper spot on the chest of the eagle, and areas of milky haze are seen over the luster. Diagnostics include the horizontal die line extending to a ray from the upper star point at about 3 o'clock and the date, which is described as "lumpy" in execution.
By the time 1930 rolled around, the stock market had fallen apart after the crash of October 1929. Attempted rallies failed to restore confidence, and the stock market continued lower. Jobs became scarce. Money dried up, with banks calling in loans that could not be repaid. The days of easy credit abated, and defaults and bankruptcies grew rapidly. In the uncertain times of 1930, few had excess cash lying around. A double eagle represented a tremendous amount of wealth for that period. Few were saved, and those known today almost certainly came from European banks, which hoarded so much of the gold produced by American mints of the period. After Franklin Roosevelt assumed the presidency in 1933, he determined that gold was part of the cause of the economic calamity that still infected the nation and much of the world. He called in all gold coins from circulation, and outlawed gold bullion ownership for Americans. Countless thousands of coins were melted, all but eliminating entire issues. In later years, bags of American gold coins trickled out of Europe, and many previously extremely rare dates became much more widely available. Population: 16 in 64, 13 finer (12/06).
From The Matt & Susan Brown Family Collection of Saint-Gaudens Double Eagles.(Registry values: N7079) (NGC ID# 26GM, PCGS# 9191)

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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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