1927-S $20 MS66 PCGS....

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1927-S Saint-Gaudens Twenty Dollar, MS66
A Front-Line Rarity Since the Late-1930s
Ex: Norweb

1927-S $20 MS66 PCGS. Ex: Simpson. The 1927-S twenty has been a front-line rarity in the Saint-Gaudens series since the 1930s. This is in spite of its huge mintage of 3.1 million pieces. A quick review of the Mint Delivery Schedule for the 1927-S shows 139 deliveries between January 5 and October 31, in numbers that range from 10,000 to 52,000 pieces. So where did they all go? In his Saint-Gaudens Double Eagles, Roger Burdette explains:

"1927 witnessed the greatest export of U.S. gold coins since 1920. During the year $146,302,604 (equivalent to 7,315,130 double eagles) was shipped to foreign buyers according to Commerce Department figures. Most of this was in newly minted double eagles."

Collectors in the late-1930s considered the 1927-S the fourth rarest coin in the series, just after the 1924-D, 1926-D, and the 1926-S. Just a handful (3-4 coins each) were believed known at the time and each remained a major rarity through the 1940s. Then after World War II, and especially throughout the 1950s, many erstwhile rarities were found in European banks. The 1922-S and 1926-S were located in numbers sufficient to drop them altogether from the "rare" category. The 1924-D remains scarce today; however, only a few 1927-S twenties were located, not enough to affect the issue's standing as a rarity. Burdette states:

"Review of more than one hundred 1927-S coins showed that only one pair of dies were responsible for more than two coins. ... Examination of the 20 highest-graded 1927-S coins, revealed only two coins that shared the same pair of dies. This suggests that the small number of coins known to collectors today originated with multiple deliveries from the San Francisco Mint. The most accessible source for these coins was the pyx remainders held by the Philadelphia Mint Cashier."

This passage further reinforces the happenstance setting-aside of 1927-S twenties, rather than a single source of the remaining coins, such as a European bank. It also suggests how unlikely it is that any further 1927-S double eagles will turn up in the numismatic holdings of European financial institutions.

This is an exceptionally attractive example whose appearance is consistent with other 1927-S twenties we have handled; that is, the mint luster is thick and frosted, giving this issue an appearance that is almost unique in the series. A few deeper red alloy spots and streaks can be seen at the top of the obverse. Sharply struck throughout, the only distinctive marks are three parallel lines that cross the abdomen of Liberty, singular enough that these marks are sufficient to trace the pedigree of this important piece.

Significant 1927-S Double Eagles
1. MS67 PCGS CAC. Museum of Connecticut History Collection (Heritage, 6/1995), lot 6027, $181,500; Philip Morse Collection (Heritage, 11/2005), lot 6698, $345,000; Exclusively Internet Auction (Heritage, 2/2006), lot 13724, not sold; Dr. & Mrs. Steven L. Duckor Collection (Heritage, 1/2012), lot 4645, $276,000; Philadelphia Signature (Heritage, 8/2012), lot 5460, $282,000; FUN Platinum Night (Heritage, 1/2013), lot 5966, $340,750; D. Brent Pogue Collection, Part VII (Stack's Bowers, 3/2020), lot 7355, $264,000.
2. MS66+ PCGS CAC. Rarities Sale (Bowers and Merena, 7/2002), lot 931, $97,750; John Kutasi Collection (Heritage, 1/2007), lot 3304, $172,500; ANA Signature (Heritage, 8/2007), lot 2084, $184,000; Jay Brahin Collection (Heritage, 1/2010), lot 2334, $276,000; Rollo Fox Collection (Heritage, 1/2020), lot 4047, $312,000; Half Dome Collection (PCGS Set Registry).
3. MS66 PCGS. Dr. Thaine B. Price Collection (David Akers, 5/1998), lot 116, $132,000.
4. MS66 PCGS. Norweb Collection, Part III (Bowers and Merena, 11/1988), lot 4129, $29,700; Bob R. Simpson Collection. The present coin.
5. MS66 NGC. Phillip Morse Collection, Part II (Heritage, 12/2005), lot 2070, $115,000; Ohringer Family Trust Holdings, Part II (Goldberg Auctions, 9/2008), lot 1319, $161,000; Collection of a Distinguished WW2 Veteran (Heritage, 8/2020), lot 4102, $144,000.
6. MS65+ PCGS. Portland Signature (Heritage, 3/2004), lot 6609, $119,600; Jacob Collection (Heritage, 1/2008), lot 3397, $149,500.
7. MS65+ PCGS. Phillip H. Morse Collection (Heritage, 11/2005), lot 6699, $132,250; Exclusively Internet Auction (Heritage, 12/2005), lot 14070, not sold; Exclusively Internet Auction (Heritage, 1/2006), lot 11370, not sold; Exclusively Internet Auction (Heritage, 4/2006), lot 11486, not sold; FUN Platinum Night II (Heritage, 1/2007), lot 3827, not sold; Dallas Signature (Heritage, 10/2008), lot 2506, $138,000; Bay State Collection, Part II (Heritage, 7/2009), lot 1358, not sold; Dallas Signature (Heritage, 10/2009), $109,250; Fort Worth ANA (Heritage, 3/2010), lot 2841, $109,250.
8. MS65 PCGS. Boston Jubilee Auction (NERCA, 7/1980), lot 367, $32,000; Auction '90 (David Akers, 8/1990), lot 1996, $38,500; Dr. Steven L. Duckor Collection, sold privately in 2006; Jay Brahin, sold privately in 2007; Ray Moore Collection (per Jay Brahin) (Heritage, 9/2008), lot 4504, $161,000; Bella Collection (PCGS Set Registry); A&A Saints Collection (PCGS Set Registry); FUN Platinum Night (Heritage, 1/2020), lot 4567, $132,000; Dallas Signature (Heritage, 8/2020), lot 4101, $180,000.
9. MS65 PCGS. Ralph P. Muller Collection (Heritage, 1/2010), lot 2333, $149,500; Cherny Collection (Heritage, 11/2016), lot 5642, $199,750; Half Dome Collection (Legend Rare Coin Auctions, 1/2022), lot 236, $246,750.
10. MS65 NGC. Donald E. Bently Collection (Heritage, 3/2014), lot 30507, $105,750.
Important Selections from The Bob R. Simpson Collection, Part X. (Registry values: N1)

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

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 [Important Selections from The Bob R. Simpson Collection, Part X ]

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