1930-S $20 MS64 PCGS....

Description

Lustrous Choice Mint State 1930-S Double Eagle

1930-S $20 MS64 PCGS. A classic example of this very rare date. David Akers considers the 1930-S to be the sixth rarest date of the series overall but notes that it does tend to come in Choice uncirculated condition, as these simply never had a chance to circulate before all gold was called in by the United States government. Toned with coppery-yellow over the luster, and very attractive. The surfaces are excellent for the grade, with minimal signs of handling. We note a minor copper spot nestled into branch where the first small branch extends off the main below Liberty's hand, and a couple more tucked into the her dress folds. On the reverse there is one copper spot on the chest of the eagle, and areas of milky haze are seen over the luster. Diagnostics include the horizontal die line extending to a ray from the upper star point located at about 3 o'clock and the date which is described as "lumpy" in execution.
By the time 1930 rolled around the stock market had fallen apart after the crash of October 1929. Attempted rallies failed to restore confidence, and the stock market continued lower. Jobs became scarce and money dried up, with banks calling in loans which couldn't be repaid. The days of easy credit abated, and defaults and bankruptcies were growing rapidly. Needless to say in the uncertain times of 1930, few had excess cash lying around, and a double eagle represented a tremendous amount of wealth for that period. Hence, very few were saved, and those that are known today almost certainly came from European banks which hoarded so much of the gold produced by American mints of the period. After Franklin Roosevelt assumed the Presidential stewardship of America in 1933, he determined that gold was part of the cause of the economic calamity which still infected the nation and much of the world, and thus called in all gold coins from circulation, and outlawed gold bullion ownership for Americans. Countless thousands of coins were melted, all but eliminating entire issues. In later years bags of American gold coins trickled out of Europe and many previously extremely rare dates became much more widely available. In this particular case, the NGC and PCGS population reports show 15 specimens graded this high with a mere 13 coins graded finer.
From The Callahan Collection.(#9191) (Registry values: N7079)

Coin Index Numbers: (NGC ID# 26GM, PCGS# 9191, Greysheet# 10186)

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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