1927-S $20 MS64 PCGS....

Description

Widely Recognized 1927-S Twenty Dollar Rarity
A Brightly Lustrous Near-Gem

1927-S $20 MS64 PCGS. The Great Recall of 1933-1934, when President Franklin D. Roosevelt ordered the United States off of the gold standard, resulted in massive meltings of Saint-Gaudens double eagles. Some of the most beautiful coins ever minted were systematically converted from numismatic works of art into mundane gold bars, many of which are still stored in government vaults at Fort Knox, Kentucky. The later dates in the series were most affected by the meltings, as many were still in government possession at the time of the recall. As such, numerous recorded mintage figures of gold coins struck during the 1920s and 1930s are completely useless when trying to ascertain the rarity of a particular issue. Ironically, it was Franklin Roosevelt's fifth cousin, President Theodore Roosevelt, who commissioned Augustus Saint-Gaudens to create new designs for the country's circulating gold coinage.
Breen suggested that only 15 examples of the 1927-S twenty were in existence when he published his landmark Complete Encyclopedia in 1988. That number seems ridiculously low based on our knowledge of this issue today. However, it may not have been too far off when Breen was researching Saint-Gaudens double eagles for inclusion in his seminal reference. Apparently more examples have been repatriated from European holdings since then. Yet even today the survival rate for this date is very low. In our 2006 series reference based on the Phillip H. Morse Collection, we noted that the issue is an absolute rather than conditional rarity, and that of the 160-170 surviving pieces, two-thirds of them were Uncirculated.
As with all 1927-S Saints we have handled, the mint luster is thick and frosted. The bright surfaces have a noticeable overlay of reddish patina that deepens even more around the margins. The devices are fully struck. There are a few scattered marks on each side, none of individual note, that keep this coin from an MS65 grade. Population: 5 in 64, 8 finer (2/10).
From The Carter Family Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26GJ, PCGS# 9188, GSID# 10185)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 3,107,000

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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