1924-D $20 MS66 PCGS....

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1924-D Saint-Gaudens Twenty, MS66
Tied for Finest Known
A Premier Series Condition Rarity

1924-D $20 MS66 PCGS. Ex: Simpson. Like most branch mint issues from the 1920s, the 1924-D Saint-Gaudens double eagle was a rare coin in the 1940s, when collecting double eagles first became popular in this country. Most of the copious mintage of over 3 million pieces was held in Treasury vaults and subsequently melted in the late 1930s. Shortly thereafter, the date began to turn up in auction catalogs, such as the piece in J.C. Morgenthau's May 1939 sale, lot 552, "1924 D Uncirculated and very scarce." The coin realized $73, a strong price in the 1930s for a coin that could have been purchased from the Treasury Department at face value until 1933. Fortunately, a few bags escaped the Gold Recall and later surfaced in foreign banks. In his comments provided for our sale of the Duckor Collection in 2012, David Akers wrote:

"Since a number of small hoards of the 1924-D were uncovered in Europe in the 1950s, 1960s and even the 1970s, it is now only moderately rare, and perhaps just scarce, as a population rarity with hundreds of mint state pieces known. Even in MS63 and MS64 the 1924-D is available with regularity and at fairly reasonable prices. However, this is not at all the case for gem quality MS65 examples; they are decidedly rare with an extant population in the 12-15 range, possibly fewer. In superb uncirculated condition, the 1924-D is one of the major rarities of the series, comparable to most of the other more renowned rarities of the 1920's. Only 3 or 4 such examples are known to exist."

Population data from third party grading services corresponds closely with Akers' estimate, if it is accepted that perhaps a few duplications skew the data. Today, PCGS and NGC combined list 20 submissions of this date in MS65, but some of these coins are known to have been crossed or regraded in recent years, as the percentage of coins at each service has shifted and increased slightly. The Condition Census of this issue is composed of five MS66 coins, specifically four at PCGS and one at NGC. Of these elite five reported, only two have ever been confirmed to exist, one of course being the present example. The other, the famous Carter-Duckor-Morse specimen, has appeared at auction on four occasions, the most recent occurrence being a decade ago. The Simpson coin has not been seen at auction in more than a decade.

The outstanding characteristic of the present coin is its blazing mint luster. The vibrant surfaces are a bright yellow-gold at the centers, with a subtle reddish patina at the margins. Coupled with a sharp strike, the overwhelming luster gives this coin the visual appeal expected of a Premium Gem. A small mark on Liberty's face is all that prevents a higher grade. Unlike most examples, this piece has crisp peripheral definition. Without a doubt, this is one of the finest 1924-D double eagles known, and its rarity in this condition ranks it among the most significant offerings in these selections from the Simpson Collection. Population: 4 in 66, 0 finer (7/22).
Ex: Jay Brahin; FUN Signature (Heritage, 1/2010), lot 2319.(Registry values: N1)

Coin Index Numbers: (NGC ID# 26G8, PCGS# 9178, Greysheet# 10178)

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 ]

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