LOT #3206 |
Current Bid: $17,500
1920-S $20 MS64 PCGS. CAC. HA-2....
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Description
1920-S Double Eagle, MS64
Key Saint-Gaudens Rarity
CAC-Approved Quality
1920-S $20 MS64 PCGS. CAC. HA-2. Roger Burdette estimates in
Saint-Gaudens Double Eagles that only 187 of the 1920-S
Saint-Gaudens double eagles were actually distributed from the
558,000-coin mintage, accounting for the rarity of this issue. That
estimate closely aligns with the combined total NGC and PCGS
population of 196 coins, including an uncertain number of
resubmissions and crossovers (8/25). The coins were all struck in
May or June and Burdette notes that they were intended to be used
as currency reserves, so the great majority of the mintage was held
in Mint or Treasury vaults and never released into circulation.
Only 144 residual examples were given to the San Francisco Mint
Cashier for use in everyday transactions. Another 43 untested assay
specimens were released to the Philadelphia Mint Cashier after the
Assay Commission met, in February 1921. These 187 cashier coins
were all that were available to the general public. The coins held
in government storage were all melted into gold bars after the Gold
Recall of 1933 took effect.Unlike most Saint-Gaudens double eagles of this era, the 1920-S is sometimes found in circulated grades. The average certified grade of this issue is 59.7. From this, it seems likely that some of the cashier's coins were paid out and actually did circulate for a while in the 1920s. The few high-grade examples we know about today were probably saved by coin collectors on the Assay Commission, like Judson Brenner, Osgood Field, and J.M. Henderson, or preserved from the untested assay specimens by Mint Cabinet Curator T.L. Comparette. A few members of the Pacific Coast Numismatic Society may have acquired high-quality specimens from the San Francisco Mint Cashier, as well. Two examples are included in the collection of the American Numismatic Society, one is located in the National Numismatic Collection at the Smithsonian Institution, and another is in the holdings of the Connecticut State Library. Burdette analyzed a number of coins that appeared in recent auctions and concluded that the present variety is part of the group that was distributed at the Philadelphia Mint following the annual assay in February 1921.
The 1920-S began appearing in auctions by the late 1930s, but public offerings were few and far between in that era. Fort Worth coin dealer B. Max Mehl was an early proponent of the issue, offering the Dr. Charles Green example in lot 877 of his sale of April 26, 1949. Mehl wrote:
"1920 S. (None minted in 1917, '18 and '19.) Extremely fine with considerable luster. Dr. Green purchased this coin at the Bell sale in 1944 for $160.00. Since then a specimen sold at auction for $250.00. It now catalogs for $200.00, but it is worth much more in my humble opinion. In 1944 this coin only cataloged for $60.00, yet its rarity was recognized and it brought $160.00. One of the most difficult dates and mints of the Double Eagles to obtain."
The Green example, cataloged as Extremely Fine, brought $210, an early recognition of the importance of the issue. Of course, prices realized have continued to increase exponentially over the years. Recent sales include the MS65 PCGS coin in our May 2022 Central States Signature which realized $600,000.
Roger Burdette mentions that several die varieties of the 1920-S double eagles exist, with two notable varieties individually described. This example is variety HA-2 that is typically better struck than HA-1. The stars at the lower left obverse are sharp, and the reverse rim is separated from the legend letters. The mintmark is well-positioned over the right edge of the 9 in the date, and is centered between two rays. A die crack from the R of LIBERTY passes through the T and Y to the branch. This Choice Mint State double eagle exhibits brilliant and frosty orange-gold luster with trivial, grade-consistent marks on each side. An exceptional example for the grade fully deserving its CAC approval. Population: 13 in 64 (2 in 64+), 6 finer. CAC: 5 in 64, 2 finer (8/25).
Ex: Long Beach Signature (Heritage, 2/2020), lot 3429.(Registry values: N10218)
From The Alymaya Collection, Part II.
Coin Index Numbers: (NGC ID# 26FZ, PCGS# 9171, Greysheet# 10175)
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 [The Alymaya Collection, Part II. ]
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
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21h 57m 51s
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This lot is in: 1 -
Signature® Premier Floor Session - PREMIER (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
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Additional Location Info:
Heritage Auctions
2801 W. Airport Freeway
Dallas, TX 75261
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