1909/8 $20 MS65 PCGS....

Description

Magnificent Gem 1909/8 Double Eagle

1909/8 $20 MS65 PCGS. So far as is known, 1909 was the only year that an overdate was produced in the Saint-Gaudens series of double eagles. Gold specialist Roger Burdette suggests the genesis of this error by noting that working dies for the next calendar year were usually made from October through December of the previous year so that a supply would be ready on January 2. With current-year and next-year hubs in the engraving department, there was ample opportunity for mistakes. Burdette states: "Sometime in late 1908 the die sinkers prepared working dies in the usual manner. This required several strikes (more like "squeezes") from a hydraulic press of the working hub (relief image) to produce a complete working die (incuse image). This process occurred over several days, and for a coin the diameter of a double eagle, may have required a total of four or more strikes to complete a single working die. Evidently, one of the die sinkers accidentally got his hands on a 1908 hub and used that to make some of the impressions. He then switched back to the correct 1909 hub and completed the working die."
Burdette goes on to say: "The finished obverse die ... was used and finally discarded. Apparently no one in the coining department realized that a 1909/8 overdate had been created. If they did, no action to condemn the coins was taken."
The 1909/8 represents a considerable challenge above MS63, but the current Gem specimen rises to the occasion. It displays lovely apricot-gold color with tints of light green. The luster has a pleasing soft, frosty texture that is common to many Philadelphia coins of this era. While the typical 1909/8 exhibits a general flatness on the obverse, this coin is strongly impressed, as illustrated by excellent definition on Liberty's head, fingers, and toes, and on the Capitol building. The few light contact marks that do occur are well within the parameters of the MS65 grade designation. A highly attractive piece that is sure to delight. Population: 14 in 65, 3 finer (11/07).
From The Jacob Collection of Saint-Gaudens Double Eagles.(Registry values: N7079)

Coin Index Numbers: (PCGS# 9151, Greysheet# 10162)

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.

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