1924-D $20 MS65+ PCGS. CAC....

Description

1924-D Saint-Gaudens Double Eagle, MS65+
Branch Mint Semikey Issue
Only Three Finer Coins at PCGS

1924-D $20 MS65+ PCGS. CAC. Ex: A&A-Fox. The 1924-D Saint-Gaudens double eagle claims a large mintage of just over 3 million pieces, delivered in 90 batches throughout the year. Most of the coins were shipped to eastern Federal Reserve Banks or the New York Assay Office, probably in the 1925-1927 time frame, and used to settle large accounts in foreign trade. A few bags probably slipped into domestic circulation, as a number of coins are known in the XF to AU grade range. Any coins still in storage after the Gold Recall of 1933 were melted and stored as gold bars at the Fort Knox Bullion Repository.

The 1924-D was a rare issue in the 1940s, but a number of small hoards surfaced in European holdings over the years, augmenting the supply of collectible examples considerably. Of course, the repatriated coins usually show bagmarks from rough transport and storage, so most of the coins grade no better than MS64. The issue is only a moderate rarity today, in absolute terms, but it remains decidedly rare in MS65, or better, condition.

The present coin is an absolutely splendid Plus-graded Gem, certified by CAC. Most will surely see this coin as upper-end, if not undergraded. When searching for abrasions that will help aid in tracing the pedigree of this important coin, the only one that is readily visible is an angling shallow scrape just below the olive branch on the obverse. The mint luster is vibrant and unbroken, as usual on this issue. As with most Denver Mint issues, the luster is frosted in nature rather than satiny. Many examples of the 1924-D show weakness on the peripheral design elements, due to improper planchet diameter and upset angle, and overused dies. This coin is a happy exception to the rule, with sharply detailed devices throughout. Overall visual appeal is terrific. Population: 9 in 65 (2 in 65+), 3 finer. CAC: 3 in 65, 0 finer (8/19).
Ex: Milwaukee Signature (Heritage, 8/2007), lot 2078, realized $71,300; A&A PCGS Registry Set; Rollo Fox Collection.

David Akers (2012) Comments:
During the 1940's and into the 1950's, the 1924-D was considered to be an important rarity in the Saint-Gaudens double eagle series. However, it was never really considered elite. At the top of the rarity pyramid at that time were the 1924-S (generally considered the rarest), 1926-D, and 1926-S, in that order. Just below them on the second tier were the 1921, 1927-S and 1931-D. A third rarity tier consisted of the 1925-D, 1927-D and 1930-S, and the fourth tier was comprised of the 1922-S, 1929, 1931, 1932, 1920-S, 1908-S, and 1924-D, more or less in that descending order. Of course, at that time the use of the term "rare" as applied to any coin was based only on what was perceived to be the total population of a given issue. Condition mattered to some extent in that higher quality examples almost always brought more than lower quality ones, but the difference was typically not great, measured in small percentages rather than multiples. The concept of "condition rarity" was still several decades away. It is interesting to note that every one of the above issues so highly regarded more than a half century ago is still considered rare today. The order has changed to be sure and for some the rarity is now highly condition dependent, but they are all still rare in some context and definitely key and important issues in the series.
Since a number of small hoards of the 1924-D were uncovered in Europe in the 1950s, 1960s and even the 1970s, it is now only moderately rare, and perhaps just scarce, as a population rarity with hundreds of mint state pieces known. Even in MS63 and MS64 the 1924-D is available with regularity and at fairly reasonable prices. However, this is not at all the case for gem quality MS65 examples; they are decidedly rare with an extant population in the 12-15 range, possibly fewer. In superb uncirculated condition, the 1924-D is one of the major rarities of the series, comparable to most of the other more renowned rarities of the 1920's. Only 3 or 4 such examples are known to exist.
From The Rollo Fox Collection of $20 Saint-Gaudens Gold. (Registry values: N10218)

Coin Index Numbers: (NGC ID# 26G8, PCGS# 9178, Greysheet# 10178)

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 all of [The Rollo Fox Collection of $20 Saint-Gaudens Gold ]

View Certification Details from PCGS