LOT #3198 |
Current Bid: $5,500
1908-S $20 MS65 PCGS....
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Description
1908-S Double Eagle, MS65
Low-Mintage San Francisco Rarity
Few Known So Fine
1908-S $20 MS65 PCGS. Akers' useful Handbook of 20th
Century United States Gold Coins (1907-1933) offers these
still-relevant comments concerning the 1908-S double eagle:"The 1908-S is rare in lower Mint State grades and extremely so at or above the MS-65 level. This is one of the few Saint-Gaudens Double Eagles that is seen much more often in circulated grades than in Mint State. There are no more than 40 coins extant that grade MS-65 or finer, and the 1908-S is equally as rare as the 1932 in high grades."
There are numerous reasons why most 1908-S double eagles are found in circulated grades. A chief one was the longstanding "hard money" tradition of the Old West, where gold dust, then private gold, then federal coinage were the favored forms of exchange and anything else traded at substantial discounts. Even when parity between paper money, gold, and silver was achieved after the Civil War in 1878 for the first time in decades, the Western states continued to show a preference for gold coins in particular, while much of the rest of the country was comfortable with paper currency backed by gold or silver. In the recent reference, Saint-Gaudens Double Eagles, Roger W. Burdette writes:
"The most reasonable explanation is that when the coins were released in September, they were sent to multiple west coast cities and from there were widely distributed in payments and exchanges. The western states were well known for their preference for gold coin, and the chance to see and hold a radically new double eagle design was not to be missed."
Even though Augustus Heaton had published his seminal Mint Marks pamphlet in 1893, listing "causes of attractiveness" of U.S. coins, it would be decades before collecting by mintmark would truly catch on, spurred by the introduction of coin boards. And certainly few collectors paid much attention to mintmarks on the largest gold denomination -- as they could not afford to collect them regardless. Finally, their status as second-year issues ensured that fewer were saved than had they been first-year.
The present Gem has yellow-gold coloration rather than the usually encountered reddish-orange patina, but the surfaces are highly lustrous and well-frosted. The strike is full, also typical for this well-made issue, and there are no mentionable marks. This prized Gem should form a bedrock addition to a fine collection of Saint-Gaudens double eagles. Population: 14 in 65 (1 in 65+), 21 finer (8/25).(Registry values: N7079)
Coin Index Numbers: (NGC ID# 26FA, PCGS# 9149, Greysheet# 10161)
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.
Auction Info
2025 October 2 - 5 GACC US Coins Signature® Auction #1386 (go to Auction Home page)
Proxy Bidding Ends
October
2nd
Thursday
12:50 pm CT
Auction Dates
October
2nd-5th
Thursday-Sunday
Proxy Bidding Time Remaining
14 Days
2h 12m 22s
Bids + Registered Phone Bidders: 8
Lot Tracking Activity: 26
Page Views: 144
Buyer's Premium per Lot:
20% of the successful bid (minimum $29) per lot.
This lot is in: 1 -
Signature® Premier Floor Session - PREMIER (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 3001-3238) - 1:00 PM Central Time, Thursday, October 2, 2025.
[Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live now starts within 2 hours of when the auction opens for proxy bidding and continues through the live session.]
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Additional Location Info:
Heritage Auctions
2801 W. Airport Freeway
Dallas, TX 75261
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