1924 $20 MS67+ PCGS. CAC....

Click the image to load the highest resolution version.

Sold on Aug 22, 2022 for:

$90,000.00 Bid Source: Internet bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

1924 Double Eagle, MS67+
Stunning Condition Census Example
Rare This Fine With CAC Approval

1924 $20 MS67+ PCGS. CAC. Ex: Simpson. The 1924 is widely famous for being the most plentiful date in the Saint-Gaudens double eagle series. Yet, the issue never circulated domestically to any meaningful extent but was instead struck for international trade. Most extant representatives -- particularly those in low and middle Mint State grades -- likely came from repatriated foreign shipments. In Saint-Gaudens Double Eagles, Roger Burdette writes:

"Most 1924 double eagles were shipped to Federal Reserve Banks or the New York Assay Office for use in international payments within the first year of production. Approximately 1,800,000 pieces went out almost immediately. In 1924, the United States sent $20 million in gold coin to Germany under the Dawes Plan. Much of this was likely in double eagles dated 1922, 1923, and 1924, with the transfer arranged by J.P. Morgan & Co."

Additional 1924 double eagles were removed from Mint vaults and exported after April 1926, such that by December of that year vault records indicated a remainder of just 270,000 1924 Saints in storage (out of a mintage exceeding 4.3 million).

The utilitarian purpose and use of 1924 double eagles condemned the vast majority of survivors to low grade Uncirculated levels, making the date both common in the absolute sense and conditionally elusive at the same time. Pieces as fine as MS66 are readily available, and while MS67 coins are scarce by comparison, acquiring such a piece is not difficult with some patience. But this issue becomes undeniably rare in MS67+, and it is also rare in MS67 with CAC endorsement. A trivial four finer MS68 coins are reported on the certification charts.

To our knowledge, no MS67+ example has ever appeared at auction with a CAC green label. We have previously handled one MS67+ coin without CAC endorsement, which appeared in our May 2022 Central States Signature, where it realized $45,600. Several CAC-approved MS67 coins have appeared over the years, but none of them had the dual appeal of a Plus designation as well. That makes the Simpson coin offered here a first. Plus-graded, CAC-endorsed, this is the single finest 1924 Saint-Gaudens double eagle to appear at auction in more than 15 years. Sharp devices complement pristine, glistening fields, while each side showcases dramatic orange-gold, rose, peach, lilac, and mint hues. This is easily the most visually stunning 1924 Saint we have seen. A single tiny tick on Liberty's lower shin serves as a pedigree marker. Population: 9 in 67+, 1 finer. CAC: 30 in 67, 0 finer (7/22).(Registry values: N4719)

Coin Index Numbers: (NGC ID# 26G7, PCGS# 9177, Greysheet# 10147)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View all of [Important Selections from The Bob R. Simpson Collection, Part IX ]

View Certification Details from PCGS