1925-S $20 MS66 NGC....

Description

1925-S Double Eagle, MS66
Condition Census Rarity
Provenance Back to 1925

1925-S $20 MS66 NGC. The 1925-S Saint-Gaudens double eagle is one of the prime condition rarities in the series. NGC and PCGS have combined to grade just five pieces in MS66 and finer, according to current population data, however, only four distinct coins in this grade are currently documented in private hands. Revising David Akers' reference on 20th century gold coins, Jeff Ambio writes: "The 1925-S is the only mintmarked Double Eagle from the 1920s that is easier to obtain in circulated grades than Mint State."

The rarity of this issue is especially fascinating as the 1925-S has the third highest mintage of any Saint-Gaudens double eagle. Dave Bowers also comments on this issue in his Guide Book of double eagles: "The 1925-S is a sleeper. The large mintage belies the rarity of this coin. The population of 1925-S double eagles is about evenly divided between high grade worn pieces and lower level Mint State examples."

The two finest survivors traced are the Norweb specimen that was later part of the Dr. Thaine Price collection, a coin that PCGS has graded MS68, and the Phillip H. Morse specimen that PCGS initially graded MS67 and later reconsidered, calling it MS67+. NGC's long-listed MS67 example has not been seen and may or may not be a duplication of another Condition Census piece.

The present specimen, NGC certified MS66, is to the best of our knowledge the fourth finest known, perhaps barely edged out of tied for fourth finest by the Duckor MS66 PCGS CAC example. This piece is also the only one of the four top-end examples with known provenance dating to its year of issue, when it was purchased from the Mint by a Washington, D.C. doctor. The coin has a bold strike with excellent definition on both sides, although there is slight weakness at the lower obverse, as seen on many survivors. The rims are somewhat beveled as usual for S-Mint twenties from the decade. The surfaces have brilliant yellow luster with a satin texture. Faint traces of pinkish-orange toning are visible, with green-gold peripheries. The surfaces are nearly perfect and the overall eye appeal of this remarkable double eagle is exceptional. Census: 1 in 66, 1 finer (7/25).

Roster of Significant 1925-S Double Eagles (provided by Ron Guth)
1. MS68 PCGS. Per Roger W. Burdette, possible King Farouk / The Palace Collections of Egypt (Sotheby's, 2/1954), part of lot 185; Norweb Collection, Part III (Bowers and Merena, 11/1988), lot 4124, $55,000; Dr. Thaine B. Price Collection (David W. Akers, 5/1998), lot 110, $209,000.
2. MS67+ PCGS. Charlotte Collection (Stack's, 3/1991), lot 1214, $77,000; Great Lakes Collection (Bowers and Merena / Hanks and Associates, 11/1998), lot 4046; Phillip H. Morse Collection (Heritage, 11/2005), lot 6681, $287,500; Bob R. Simpson Collection; Elite Collection (PCGS Set Registry).
3. MS66 PCGS CAC. Manfra, Tordella & Brooks, sold privately; David W. Akers, sold privately in the mid-1980's; Dr. & Mrs. Steven L. Duckor Collection (Heritage, 1/2012), lot 4640, $184,000; D.L. Hansen Collection.
4. MS66 NGC. Washington, DC doctor, who obtained this coin in the year of issue; Grand Central Auction Sale (Paramount, 11/1980), lot 1715; David W. Akers, sold privately; Les Fox; Rare and Important United States Gold Coins (Stack's, 10/1988), lot 232, $57,750; Mises Institute Collection (Bowers and Merena, 1/2009), lot 1394, $126,500; October Signature (Heritage, 10/2009), lot 1937, $149,500. The present coin.
5. MS65+ PCGS. Phillip H. Morse Collection (Heritage, 11/2005), lot 6682, $86,250; Jay Brahin Collection (Heritage, 1/2010), lot 2325, $218,500; Rollo Fox Collection (Heritage, 1/2020), lot 4041, $288,000; Noel Thomas Patton Collection / Central States Platinum Night (Heritage, 5/2023), lot 3347, $384,000.
6. MS65+ PCGS. FUN Sale (Mid-American Rare Coin Auctions, 1/1987), lot 2132; Crawford Collection; FUN Signature (Heritage, 1/2006), lot 3620, $172,500; John Kutasi Collection (Heritage, 1/2007), lot 3298, $149,500; A&A Saints Collection.
7. MS65 NGC. ANA Signature (Heritage, 3/2010), lot 2826, $80,500; Pre-Long Beach Auction (Goldberg Auctions, 1/2012), lot 2024, $83,375; Long Beach Signature (Heritage, 10/2021), lot 3626, $102,000.
8. MS65 NGC. Long Beach Signature (Heritage, 7/2022), lot 3431, $180,000.
9. Gem Uncirculated Uncertified. Public Auction of U.S. Gold, Silver & Copper Coins (Stack's, 6/2006), lot 1676, $37,375.(Registry values: N1)
From The Alymaya Collection.

Coin Index Numbers: (NGC ID# 26GC, PCGS# 9182, Greysheet# 10181)

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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