1929 $20 MS64+ PCGS. CAC....

Description

1929 Saint-Gaudens Twenty, MS64+
Rare 20th Century Issue
First of the Late-Date Saints

1929 $20 MS64+ PCGS. CAC. The 1929 Saint-Gaudens double eagle is the first date in the famous group of "late-date Saints" that includes five of the rarest and most valuable issues of the series (1929, 1930-S, 1931, 1931-D, and 1932). Historically, many collections of Saint-Gaudens double eagles have stopped with the 1928 issue. While the 1929 is definitely the most available coin of this illustrious group, it is still quite elusive, and has much in common with the other challenging dates in this quintet.

All the issues at the end of the Saint-Gaudens series owe their rarity to the Gold Recall of 1933, and the subsequent melts of the mid-1930s. The 1929 claims a substantial mintage of nearly 1.8 million pieces, but the coins were intended as currency reserves, and few examples were ever released into circulation. Research by Dr. Charles W. Green in the 1940s indicates only 25,170 coins were actually "put out" through official channels. The great majority of the mintage remained stored in Treasury vaults and Federal Reserve Banks until 1933, when they were easily gathered up and melted into gold bars. From the modest total of coins released into circulation it is doubtful that more than 300-400 examples survive today in all grades. A few Premium Gem specimens have been certified, but the 1929 is actually much rarer in MS66 than its 1931 or 1932 counterparts. The 1929 is most often seen in grades between MS60 and MS64.
The 1929 was extremely rare in the 1930s and 1940s, and auction appearances were few-and-far-between. The first appearance of the 1929 that we have been able to locate was in Sale 416 (Morgenthau, 6/1940), lot 61. Of all the "late-dates," only the 1930-S had not been publicly offered by that time. A number of hoards that surfaced in foreign holdings over the years included some examples of the 1929, but the number was never large, and the issue remains quite scarce today. Recent auction sales include the spectacular MS66 PCGS coin in lot 4508 of the Long Beach signature (Heritage, 9/2008) that realized $184,000.

The present coin is a high-end Choice example, with sharply detailed design elements and vibrant mint luster throughout. The well-preserved yellow-gold surfaces show some highlights of rose and a few minor digs in the right obverse field are all that prevent an even higher grade. Population: 90 in 64 (12 in 64+), 31 finer (1/14).
From The Fidelis Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26GL, PCGS# 9190, Greysheet# 10152)

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 Certification Details from PCGS