1909-S $20 MS67 PCGS....

Description

1909-S Saint-Gaudens Twenty, MS67
Condition Rarity in High Grade
Tied for Finest Certified

1909-S $20 MS67 PCGS. Ex: Fox. More than 2.7 million Saint-Gaudens double eagles were struck at the San Francisco Mint in 1909 and the issue is reasonably available in all grades up to the MS65 level. Many coins were used in foreign trade and some large groups have been repatriated from European and Latin American holdings in recent times. One especially impressive hoard surfaced in El Salvador in 1983, containing several thousand examples. In his landmark treatise Saint-Gaudens Double Eagles as Illustrated by the Phillip H. Morse and Steven Duckor Collections, Roger W. Burdette estimates the surviving population at approximately 12,400 examples in all grades. However, most of the repatriated coins show surface marks from coin-to-coin contact in bags during shipping and storage. Heritage Auctions is pleased to present one of only two examples of this early series issue to be graded MS67 by either of the leading grading services in this important offering (9/19).

Collecting large denomination gold coins first became popular in this country in the late 1930s, as astute collectors realized it was one of the few legal opportunities to invest in gold, after the Gold Recall of 1933. An early auction appearance of the 1909-S Saint-Gaudens double eagle was in lot 870 of the Dr. Charles W. Green Collection (B. Max Mehl, 4/1949):

"1909-S. Brilliant uncirculated, but the obverse shows evidence of having been handled with other coins. Mint luster. Catalogs $75."

The lot realized $70, not far from the retail price at the time. We can find no auction appearances of MS67-graded examples, but recent sales include the spectacular MS66 PCGS specimen in lot 4611 of the Dr. and Mrs. Steven Duckor Collection (Heritage, 1/2012), which realized $34,500.

The present coin is a magnificent Superb Gem that exhibits sharply detailed design elements in most areas. Like most examples of this issue, just a trace of softness in evident on the upper torch, but Liberty's facial features and hair are finely delineated. The virtually pristine orange-gold surfaces radiate vibrant mint luster throughout, with immense eye appeal. This coin is a must-have for Registry Set enthusiasts. Pictured on PCGS CoinFacts. Population: 2 in 67, 0 finer (9/19).

David Akers (2008) Comments:
The 1909-S is a common issue in all grades short of MS65. This is primarily due to the discovery of several large hoards of Mint State examples, including one particularly impressive find comprised of several thousand coins that surfaced in Central America in 1983. Most of the 1909-S Double Eagles that have been repatriated over the years are in lower Mint State grades, however, with the result that this issue is scarce in MS65. Coins that grade MS66 are rare, and the 1909-S is virtually unobtainable as a Superb Gem.
From The Rollo Fox Collection of $20 Saint-Gaudens Gold. (Registry values: N1)

Coin Index Numbers: (NGC ID# 26FE, PCGS# 9153, Greysheet# 10164)

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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