1931-D $20 MS66 PCGS....
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.
Reserve (If Any) Not Posted Yet:
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.
Consignor Has Not Yet Submitted a Reserve:
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.)
Reserve Not Met:
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).
Our Auction Results Archives now allow our members to make anonymous offers on items that may not be auctioned again for some time. Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell.
Heritage retains 10% (minimum $40 per lot) of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
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.
- You may take up to four (4) months to pay the balance (monthly payments of at least 1/4th of invoice total).
- Interest is calculated at only 1% per month (12% annually) on the unpaid balance, and must be kept current.
- Minimum down payment is 25% within two weeks of the sale date. All down payments made beyond this 2 week window will require a 35% down payment, and the term will be shortened to 3 months.
- 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:
- All payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
- All payments must be made using one or a combination of the following payment methods: cash, check, cashier's check, eCheck, money order, or bank draft.
- There is no penalty for paying off early.
- Non-dealers only
- With pre-approved credit application
All traditional sales policies still apply. Due to the nature of the business and market volatility, there is no return privilege once you have confirmed your sale, and penalties can be incurred on cancelled orders.
- Get pre-approved by filling out a credit application.
- Bid normally and win some lots.
- Heritage will maintain possession of all the lots until paid in full. Therefore, you must notify us of your intent to use our Extended Payment Plan on or before the day of the auction. All pre-shipped material must be returned to Heritage in order for the plan to be in effect.
- When you get your electronic invoice, select "other" from the payment options.
- Send an e-mail to EPPGroup@HA.com indicating the invoice number and your intention to use the Extended Payment Plan.
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.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
- Minimum down payment is 20%.
- Payments (including the down payment) must be made on-time per your specific EPP schedule (there will be a brief grace period).
- Payments must be made using one or a combination of the following payment methods: cash, check, cashier's check, eCheck, money order, bank draft, bank wire or PayPal.
- 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.
Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
|Sold for:||Sign-in or Join (free & quick)|
|Offers to date:||
$207,000 on January 8, 2014
|Claim Item:||Sign-in or Join (free & quick)|
|Auction Ended On:||Jan 7, 2010|
8 Internet/mail/phone bidders
4,827 page views
Second Rarest Issue from the Denver Mint
Scarce Late Date Key
Collectors have always prized Denver Mint Saint-Gaudens double eagles, but accurate information about the relative rarity of issues in the series has been particularly hard to come by. Today the 1931-D is recognized as one of the rarer issues and a great prize, but its place in the series was not always understood. When David Akers cataloged the 1931-D in the Thaine B. Price Collection (Akers, 5/1998), lot 121, he had this to say about the issue:
"In the distant past, the 1931-D was widely regarded as the fourth or fifth rarest issue of the Saint-Gaudens Double Eagle series, surpassed in rarity only by the 1924-S, 1926-D and 1926-S, as well as possibly the 1927-S, although the latter was usually considered about the equal of the 1931-D. The 1927-D, now the premier issue of the series, was actually thought to be less rare than this issue until the early-1950s when small quantities of the 1931-D first began showing up in European banks. Over the next two decades, several mini-hoards of the 1931-D were discovered, but relatively few of these pieces graded better than Choice Uncirculated and the majority were heavily marked and lackluster."
Today numismatists consider the 1931-D to be the second rarest issue from the Denver facility behind the 1927-D, and its status as a condition rarity is undiminished. Coins at the Gem level are decidedly rare, and extremely rare any finer. This is the only coin NGC has certified at the MS66 level (PCGS has graded four) and none are finer (11/09).
Dr. Charles Green was a keen student of the Saint-Gaudens double eagle series, as well as an important collector and correspondent of Louis Eliasberg during the 1930s and 1940s. He was given access to many Mint records from the 1920s and 1930s, enabling him to determine the exact number of coins the Mint released into circulation during key dates of this period. Unfortunately, the Denver Mint records were in such disarray that he was unable to review them when he made his study in 1947. In his letter to Louis Eliasberg, reproduced in the Lake Michigan and Springdale collections (American Numismatic Rarities, 6/2006), Green reported:
"As to the Denver mint, the records apparently were in bad shape as far as answering my query was concerned. It was stated that it would take a year to provide the information whereupon Mrs. Ross, the Director, because of the rush of work there, told the Denver Mint to forego the matter."
If the Mint was totally confused about the number of coins released during the years in question, it is no wonder the numismatic community had a false picture of the relative rarity of the Denver issues.
The early auction history of the 1931-D reflects the initial confusion about its rarity, and the gradual understanding of its true place in the series that numismatists have attained over the years. Possibly the first auction appearance of the issue was in Sale Number 399 (Morgenthau, 5/1939), lot 557. Wayte Raymond and J.G. MacAllister were the proprietors of the Morgenthau firm, and they were famous for their terse commentary. The lot description read simply, "1931 D Uncirculated and extremely rare." If this was indeed the first offering of this date, it proved an auspicious beginning. The lot realized $130, a significant sum for a coin that could be purchased for face value from the Mint only six years previously.
The issue appeared in several sales in the mid-1940s, and prices continued to be uniformly high, but the gap between the 1931-D and the 1927-D began to close, as the extreme rarity of the latter coin became more apparent. Of course, the 1926-D was still perceived as the rarest coin in the series throughout the decade. Charles Green decided to sell his collection in a landmark auction through dealer B. Max Mehl on April 26, 1949. Lot 918 was impressively presented as:
"The Excessively Rare 1931 Denver Mint $20.00
"1931 $20.00 Gold, Denver Mint. Uncirculated. Perfect in every respect, full frosty mint luster. Extremely rare and valuable. Record in the Bell Sale, in 1944, $1,100.00. Dr. Green purchased this specimen in a Philadelphia Sale, December, 1944, for $920.00. The coin catalogs now at $750.00. It is a great rarity and it is worth well into the four-figure mark."
The lot realized $760, slightly more than its catalog value, but still the lowest price of the 1940s. The 1927-D was close behind, at $630, while the 1926-D continued to lead the pack at $2,500.
The impact of repatriation of European holdings began to be apparent in the 1950s, but catalogers were slow to revise their rarity rankings. An example of the 1931-D double eagle was featured in the J.W. Schmandt Collection (Stack's, 2/1957), lot 1075. In the lot description, the Stack's cataloger reiterated the old beliefs about the relative rarity of the Denver issues, which were clearly out of date by that time.
The cataloger correctly positioned the 1931-D as the second rarest issue in the series, but he continued to record the more numerous 1926-D in the number one spot, with the true champion 1927-D in third place. Collectors were clearly ahead of the catalogers at this juncture, in terms of understanding the true rarity of these issues. The 1926-D in the sale declined sharply, realizing only $500, because knowledge of the finds in Europe had spread. The 1927-D gained more ground, realizing $1,230, while the 1931-D posted an impressive gain at $1,625. Apparently, the public had not become aware of the smaller number of 1931-D coins that had emerged from overseas havens, but the adjustment would soon be made.
By the time of the Wolfson Collection (Stack's, 10/1962), the true order of rarity among the Denver Mint issues had finally been established. Lot 1043 of that sale expounds:
"1931 'D' Uncirculated, with full mint bloom. This coin is the second rarest Denver Mint Double Eagle of the St. Gaudens design, exceeded in rarity only by the elusive and extremely rare 1927 'D'. It is interesting to record here that 15 years ago it was not too difficult to locate a 1927 'D' and yet almost impossible to find a 1931 'D'. Since the recent demand for rare dates and mintmarks has far exceeded the supply, we have been better able to determine which coins are rarer than others. The 1927 'D' is definitely rarer than the 1931 'D'."
The 1931-D was the last double eagle produced at the Denver Mint. A period of 31 years after its date of issue, the true place of the 1931-D double eagle was finally established throughout the numismatic community. The lot realized $1,750, while the once-mighty 1926-D garnered only $500. Despite the emergence of a hoard of 15-20 pieces in 1984, the 1931-D continues to hold its place as the second rarest Saint-Gaudens double eagle from the Denver Mint today.
The mint luster on this piece is nothing short of spectacular. It is frosted and both sides exhibit richly intermingled reddish-gold and lilac patina. As usually seen, the striking details are complete throughout. Only two small marks can be used as pedigree identifiers: One is located on the obverse across ray 7 in the left field; the other is a short, diagonal mark on the top of the sun. This is an opportunity for the Saint-Gaudens specialist to acquire one of the finest examples known of this late-date rarity.
From The Ralph P. Muller Collection.(Registry values: N1) (NGC ID# 26GP, PCGS# 9193)
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