1922-S $20 MS65 PCGS....

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Sold on Jun 3, 2011 for:

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Gem 1922-S Double Eagle, Conditional Rarity
Rich Rose-Gold and Lilac Surfaces

1922-S $20 MS65 PCGS. The 1922-S Saint-Gaudens double eagle falls into the category of "unheralded rarity" at the Gem level, where PCGS has certified only 11 submissions including the present piece, with but two finer. Why is this issue overlooked? Several reasons, beginning with the fact that it is not a member of the monomint 1921 date, one of the few years in the series in which but a single mint struck examples of the twenty. The issue is also likely confused and obfuscated by both the 1922 Philadelphia and the mintmarked 1923-D issues, both common by series standards.
As with many issues in the Saint-Gaudens twenties, the 1922-S has a deceptively high mintage exceeding 2.6 million pieces, which masks the fact that the date suffered heavy melting during the post-1933 era. Finally, the 1922-S still boasts a survivorship of nearly 2,000 certification events at NGC and PCGS combined -- certainly including duplications -- but the vast majority of those pieces fall into the lower Mint State grades, up to and including MS64. It is only at the Gem level where the 1922-S emerges as a conditionally rare coin, one whose certified populations suddenly fall off a cliff. (NGC has similarly seen only a dozen submissions in MS65, with three in MS66.)
Two of the finest PCGS-certified examples we are aware of are in two illustrious current PCGS Registry Sets, the Bob Simpson coin in MS66 and the Dr. and Mrs. Steven L. Duckor "second set" example in MS65. The present Gem would be in a tie with the Duckor coin. David Akers writes of the issue:

"The 1922-S is nearly always very sharply struck. The surfaces are frosty and usually have well above average lustre for the series. The color, particularly on most top grade specimens, is characteristically excellent, usually a rich greenish gold with orange highlights or a deep yellow gold with a coppery tint. Many specimens have noticeable reddish or orange copper spots. Some specimens have a noticeable inner 'rim' (die bulge) just inside the normal rim that runs through the stars and tops of the reverse letters and across the sun. Rounded, almost beveled, rims are seen on many examples of this issue."

The present Gem PCGS example exhibits original surfaces with softly frosted mint luster. Rich rose-gold and lilac colors intermingle over each side, and there are no noticeable abrasions. The sharp strike throughout has produced a generous wealth of detail, including full columns on the Capitol building. Population: 11 in 65, 2 finer (4/11).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26G4, PCGS# 9174, Greysheet# 10176)

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