1908-S $20 MS65 PCGS....

Description

Frosty Gem 1908-S Double Eagle

1908-S $20 MS65 PCGS. Akers' useful Handbook of 20th Century United States Gold Coins (1907-1933) offers these 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 appear to be numerous reasons why most 1908-S double eagles are found in circulated grades. A chief one undoubtedly 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 for the first time in decades in 1878, 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.
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. It appears that most of the 22,000 pieces produced quietly entered circulation, where they stayed at least a short time.
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, 14 finer (11/09).

PCGS Set Registry Note
Of the top five current PCGS Saint-Gaudens $20 Gold, Circulation Strikes (1907-1932) collections, this piece would upgrade four of the five, the sole exception being the Dr. and Mrs. Stephen L. Duckor Set #2.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26FA, PCGS# 9149, GSID# 10161)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 22,000

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.

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