Goldberg Coins and Collectibles



Sale 42

Pre-Long Beach Coin and Currency Auction


The Dr. Hesselgesser Collection of $20 St. Gaudens
 
 
Lot Photo Description Realized
Lot 3493
1907 $20 St. Gaudens. High relief, wire rim. PCGS graded MS-64 PQ. Well struck with light even gold toning on both sides. A Premium Quality coin that should be regraded to an MS 65 example. Collectors and non-collectors alike consider this to be the single most artistic American coin design made for circulation. The mintage was a meager 12,000 examples, of which possibly half survive today, making them available, even if scarcely inexpensive. The designs are by Augustus Saint-Gaudens, a noted American sculptor of the late 19th century. At the behest of President Theodore Roosevelt, Saint-Gaudens, in the early part of 1907, created the models that later became this masterpiece in miniature once the Mint transferred his models to coining dies. Even after a moment's study of its design and reflection on how smooth and satiny the luster is, anyone viewing this specimen will grin (albeit faintly, if it is not within the budget). The successful bidder's collection will be a terrific success in numismatic society once this takes its place as the lead coin in that collection! (PCGS # 9135) .
Estimated Value $25,000 - 27,000.
The Dr. Robert Hesselgesser Collection.

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$31,200
Lot 3494
1907 $20 St. Gaudens. High relief, flat rim. PCGS graded MS-66. A wonderful high relief which is boldly struck. Untoned with great eye appeal. A knock-out Gem whose balanced color shoots out beams of gold and a superlative strike. Much as the luster is superior, so too is the boldness seen in the designs: the dies left their rigid impression behind with a firm, clear precision. In the best numismatic circles. collectors invariably measure a person's status after the departure of the last guest by the quality of their High Relief $20 gold pieces. And this piece has the pedigreed look of pre-eminence that turns heads and wins awards. Pop 32; 6 finer, 5 in 67, 1 in 68 (PCGS # 9136) .

"High Reliefs were struck in 3 blows of the dies on a medal press in the Philadelphia Mint," according to Stack's, in reference to a 1907 High Relief $20 gold piece the firm auctioned a few years ago. "The first two strikings were made utilizing a plain collar, presumably to prevent the raised edge lettering from being disfigured from successive strikings. It was only during the third striking that the plain collar was replaced by the lettered collar to produce a ''complete'' High Relief Double Eagle with Lettered Edge. Due to the work-hardening of metal that results from the pressures of the striking process, the as yet ''incomplete'' coin was removed from the press after the first and second strikings to be annealed, or softened by heating."
Estimated Value $60,000 - 70,000.
The Dr. Robert Hesselgesser Collection.

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$70,150
Lot 3495
1907 $20 St. Gaudens. Flat relief. PCGS graded MS-65 PQ. Lovely even golden toning on both sides. Nice Premium Quality example for the grade. Likely a strike from new dies, just estimating from the finer details. The surfaces are vivid in hue and drenched in satiny luster. In addition, the devices were struck with energy and full oomph by the dies imparting all design elements boldly. Bidders thoroughly understand the sensible precaution of upping their bids in light of the expected competition (PCGS # 9141) .
Estimated Value $2,300 - 2,500.
The Dr. Robert Hesselgesser Collection.

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$2,760
Lot 3496
1908 $20 St. Gaudens. No motto. PCGS graded MS-66. Lovely natural even golden toning on both sides. Very clean surfaces that will attractive notice as well as nods of approval from the numismatic community. A gem (PCGS # 9142) .
Estimated Value $2,000 - 2,200.
The Dr. Robert Hesselgesser Collection.

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$2,300
Lot 3497
1908-D $20 St. Gaudens. No motto. PCGS graded MS-64. Beautiful rich gold and orange toning on both sides. Scarcer than the 1908 Philly mint No Motto, which has seven times the mintage as this (PCGS # 9143) .
Estimated Value $1,300 - 1,500.
The Dr. Robert Hesselgesser Collection.

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$1,380
Lot 3498
1908 $20 St. Gaudens. With motto. PCGS graded MS-64 PQ. Rich golden toning on both sides. A very choice Premium Quality coin. Those who can manage it should submit a bid. Only 156,359 pieces minted. Pop 310; 47 finer, 36 in 65, 11 in 66 (PCGS # 9147) .
Estimated Value $3,500 - 3,900.
The Dr. Robert Hesselgesser Collection.

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$3,450
Lot 3499
1908-D $20 St. Gaudens. With motto. PCGS graded MS-66. Well struck with rich golden toning on both sides. From one end to the other the intense golden luster gyrates with almost atomic intensity. It is interesting to see, as well, that this '08-D was struck from well-prepared dies that imported a sound and in point of fact, a bold design in the key areas. A stunning Gem. A lovely coin. Pop 2; 3 finer in 67 (PCGS # 9148) .

IN GOD WE TRUST was returned to the $20 gold piece in late 1908 after Congress instructed the Mint to do so. President Roosevelt (whose still held office at the time) had a distinct dislike for placing the name of the Diety on this coin.
Estimated Value $3,500 - 4,000.
The Dr. Robert Hesselgesser Collection.

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$14,088
Lot 3500
1908-D $20 St. Gaudens. With motto. PCGS graded MS-65 PQ. Near perfect surfaces. Light even golden toning on this Premium Quality coin. Great eye appeal and well worth stretching to assure a competitive bid. Pop 228; 25 finer, 22 in 66, 3 in 67 (PCGS # 9148) .
Estimated Value $3,500 - 3,800.
The Dr. Robert Hesselgesser Collection.

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$3,738
Lot 3501
1908-S $20 St. Gaudens. With motto. PCGS graded MS-62 PQ. A scarce low mintage date with only 22,000 struck. Rich gold and orange toning on both sides of this Premium Quality coin. The number of coins made explains this date's rarity and attraction to collectors. Struck with mathematical precision by the dies, which is the case with most early S-mint dates the series, the coin has only light abrasions consistent with the grade. Since the San Francisco Mint never received No Motto dies, nor instructions to coin such pieces, the only 1908-S twenties are from the revised dies of later in the year that have IN GOD WE TRUST above the sun on the reverse. En route to this sale, the coin received its very cautious MS62 designation from the grading service, which we are reserving the right to include with a "PQ" qualifier for premium quality and eye-appeal. Pop 35; 64 finer (PCGS # 9149) .
Estimated Value $12,000 - 13,000.
The Dr. Robert Hesselgesser Collection.

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$13,800
Lot 3502
1909 $20 St. Gaudens. PCGS graded MS-64. A scarce date in choice uncirculated condition. Lovely gold and orange toning with very clean surfaces. Powerfully burning luster spreads intensely like a fire storm across the satiny, toned surfaces of this attractive specimen. Besides this, the devices were imparted with such determined force by the dies that struck it that all design elements show boldly. As is plain for all to see, our consignor assemebled his set of double eagles with an eye to consistency in quality, natural color and surfaces, and pleasurable aesthetics. This 1909 $20 shows how well he succeeded in his endeavor! Pop 191; 26 finer, 20 in 65, 6 in 66 (PCGS # 9150) .
Estimated Value $6,000 - 6,500.
The Dr. Robert Hesselgesser Collection.

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$6,900
Lot 3503
1909/8 $20 St. Gaudens. PCGS graded MS-62. Light golden toning. Nice for the grade, the 8 underlying the final 9 in the date is clearly present on this traditionally well made overdate. As it turns out, the 1909/8 is the only 20th century overdated gold coin in American numismatics (PCGS # 9151) .
Estimated Value $2,400 - 2,600.
The Dr. Robert Hesselgesser Collection.

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$2,588
Lot 3504
1909-S $20 St. Gaudens. PCGS graded MS-64. Nice rich golden toning. A very choice, frosty coin for the grade (PCGS # 9153) .
Estimated Value $1,100 - 1,150.
The Dr. Robert Hesselgesser Collection.

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$1,320
Lot 3505
1910 $20 St. Gaudens. PCGS graded MS-64. Light gold toning on both sides. A scarce date in MS 65 and higher; this grade has nearly all the beauty and allure at a reasonable market price (PCGS # 9154) .
Estimated Value $950 - 1,000.
The Dr. Robert Hesselgesser Collection.

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$1,323
Lot 3506
1910-D $20 St. Gaudens. NGC graded MS-65. A nice untoned example with gorgeous reddish-tinted luster throughout. Pop 359; 30 in 66, 1 in 67 (PCGS # 9155) .
Estimated Value $1,800 - 1,900.
The Dr. Robert Hesselgesser Collection.

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$1,955
Lot 3507
1910-S $20 St. Gaudens. PCGS graded MS-64. Nice golden toning on both sides. Choice for the grade and somewhat scarcer than the 1911-S and 1914-S issues (PCGS # 9156) .
Estimated Value $1,500 - 1,600.
The Dr. Robert Hesselgesser Collection.

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$1,610
Lot 3508
1911 $20 St. Gaudens. NGC graded MS-65. A very scarce date in gem condition. A hint of light golden toning. Satiny metal flow enhances the billowing mint dazzle that emits like forked lightning from the surfaces, giving the coin a shimmering, impressive appearance. The original mint brilliance is only interrupted by an occasional hint that it is anything but perfect. In many ways, the strike is almost more important than the mint bloom on a 1911 Philly mint double eagle. Sheer boldness of strike furnishes us something to crow about and something for bidders to appreciate and ponder. Many who view it at lot viewing will gape in astonishment at this bright, splendid Gem. Pop 42; 14 finer (PCGS # 9157) .
Estimated Value $9,000 - 10,000.
The Dr. Robert Hesselgesser Collection.

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$12,075
Lot 3509
1911-D $20 St. Gaudens. PCGS graded MS-66. Well struck with light gold toning near the edges. The surfaces seem to dance from side to side with boiling golden color, and quite satiny which is the best part about 1911-D double eagles (their smooth luster). It is never common to find a coin struck with exactitude by the dies. This gem is such a coin. Pop 420; 9 finer in 67 (PCGS # 9158) .
Estimated Value $2,500 - 2,600.
The Dr. Robert Hesselgesser Collection.

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$2,880
Lot 3510
1911-S $20 St. Gaudens. PCGS graded MS-65 PQ. Light golden toning on both sides of this Premium Quality coin. Relatively available in MS63 or thereabouts, 1911-S is much harder to find in Gem grades. A vision of warm sunset colors from a base of deep gold comes to mind when viewing the coin. The same color gets transplanted to the reverse where the eagle soars serenely. No one who rests their eyes upon it will feel anything but elation at its beauty. Don't want to leave a strong bid? You must. It is the only way. Pop 323; 23 finer, 22 in 66, 1 in 67 (PCGS # 9159) .
Estimated Value $3,000 - 3,400.
The Dr. Robert Hesselgesser Collection.

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$3,565
Lot 3511
1912 $20 St. Gaudens. PCGS graded MS-64. Lovely golden toning on this low mintage [149,824] coin. The warm color supported with strong underlying luster. Nicely struck, in fact entirely so -- which earns it the nod from those who view it closely. Indeed, the strike of the present coin easily rivals that of a Gem coin in the date. Pop 304; 31 finer, 26 in 65, 5 in 66 (PCGS # 9160) .
Estimated Value $3,000 - 3,400.
The Dr. Robert Hesselgesser Collection.

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$3,220
Lot 3512
1912 $20 St. Gaudens. PCGS graded MS-64. A frosty untoned example. Scarce date. One of a pair owned by Dr. Hesselgesser. Pop 304; 31 finer, 26 in 65, 5 in 66 (PCGS # 9160) .
Estimated Value $3,000 - 3,400.
The Dr. Robert Hesselgesser Collection.

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$3,105
Lot 3513
1913 $20 St. Gaudens. PCGS graded MS-64. Lightly toned with a few scattered marks on Liberty. A scarce date in MS 65, one whose price often precludes most collectors from owning one. This has all the charm of a gem, with outstanding color and bold relief, as it could easily fit into a gem quality set of Saint-Gaudens double eagles. Low mintage: 168,838 pieces. Pop 268; 7 fiiner in 65 (PCGS # 9161) .
Estimated Value $5,000 - 5,500.
The Dr. Robert Hesselgesser Collection.

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$5,175
Lot 3514
1913-D $20 St. Gaudens. PCGS graded MS-65 PQ. Intense orange and gold toning on this Premium Quality coin. With such gorgeous luster, it confirms the grade that the coin is struck with mathematical precision by the dies. This handsome PQ piece stands in the doorway of a higher grade. Let its appearance sink into your consciousness, then advance your bid to the fullest. Pop 312; 4 finer in 66 (PCGS # 9162) .
Estimated Value $4,200 - 4,500.
The Dr. Robert Hesselgesser Collection.

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$4,485
Lot 3515
1913-S $20 St. Gaudens. PCGS graded MS-63 PQ. A nice coin for the grade listed. Lightly toned Premium Quality example. An actively sought date for its low mintage of 34,000 pieces. Most are seen with numerous bagmarks and circulated 1913-S double eagles are more plentiful than Mint States. This example is pleasing, an exception to the more normal MS63 quality. The surfaces resonate with a warm gold finish and have only a few light marks on the eagle and in the field over its head. The coin's Premium nature is borne out by its overall good looks (PCGS # 9163) .
Estimated Value $3,000 - 3,300.
The Dr. Robert Hesselgesser Collection.

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$3,220
Lot 3516
1914 $20 St. Gaudens. PCGS graded MS-64. Low mintage of 95,320 pieces. Rich golden toning on both sides. A gold, mint-fresh example, as crisp and glossy as when it was first released from to the Treasury for distribution, one whose lively luster is only tempered natural shades of patina. One would be hard pressed to add more about the mint bloom. As for the strike, the coin was struck with technical exactness throughout. Those fishing for a bargain should look elsewhere! Pop 373; 39 finer, 36 in 65, 3 in 66 (PCGS # 9164) .
Estimated Value $4,000 - 4,400.
The Dr. Robert Hesselgesser Collection.

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$4,830
Lot 3517
1914-D $20 St. Gaudens. PCGS graded MS-65 PQ. Untoned and well struck Premium Quality coin. The surfaces on this gem are almost perfect, the luster bright and glittering. Pop 732; 52 finer, 51 in 66, 1 in 67 (PCGS # 9165) .
Estimated Value $1,700 - 1,900.
The Dr. Robert Hesselgesser Collection.

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$2,185
Lot 3518
1914-S $20 St. Gaudens. PCGS graded MS-66. Rich gold and orange toning on both sides. Strong metal flow augments the already showy mint luster that covers the surfaces, giving the coin a brand new, glowing appearance, moderated only a little by its lovely toning. Half a century ago, the luster was enough to determine a coin's status. But today, just as important is the strike: here, there is no deviation in the sharp relief seen, not even in the centers of the coin. This glorious '14-S is particularly good at shifting your attention away from whatever else you are doing and focus on it. Pop 76; none finer at PCGS (PCGS # 9166) .
Estimated Value $3,500 - 4,000.
The Dr. Robert Hesselgesser Collection.

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$4,830
Lot 3519
1915 $20 St. Gaudens. PCGS graded MS-65. Low mintage date: 152,050 pieces. Nice gold and orange toning. A scarce date in gem condition. And in fact, an extraordinary gem of the finest order in its grade, no doubt something of a sleeper in being overlooked by mainstream collectors. Broadly sweeping cartwheel luster glows brightly throughout its frosty surfaces; at first glance, Roman Finish Proofs come to mind. In reference to the strike, now that the luster has been told, we see a meticulous strike in all the vital areas, including Liberty's face, nose, eyes, forehead and hair, as well as on the eagle's plethora of feathers (including those on the breast). At the time this $20 gold piece was made, war had already broken out in Europe. American business was feeling the first effects of the war-boom, production for which created a rise in employment as well as a great expansion of industrial activity and agriculture that lasted into 1919. Unlike the belligerents in World War I, America remained on the Gold Standard throughout 1914-18. Pop 32; none finer at PCGS (PCGS # 9167) .
Estimated Value $18,000 - 20,000.
The Dr. Robert Hesselgesser Collection.

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$20,700
Lot 3520
1915-S $20 St. Gaudens. PCGS graded MS-64. Lightly toned and well struck. A satiny specimen (PCGS # 9168) .
Estimated Value $850 - 900.
The Dr. Robert Hesselgesser Collection.

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$1,150
Lot 3521
1916-S $20 St. Gaudens. PCGS graded MS-65. Light even gold toning on both sides of this gem with outstanding eye-appeal. A bold strike. Pop 960; 121 finer in 66 (PCGS # 9169) .
Estimated Value $1,700 - 1,800.
The Dr. Robert Hesselgesser Collection.

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$1,955
Lot 3522
1920 $20 St. Gaudens. PCGS graded MS-64. A very rare date in this grade, often overlooked in the early days of collecting. Very attractive for the grade as well, including bold designs, rolling luster, natural original toning on both sides. Pop 462; 1 finer in 65 (PCGS # 9170) .
Estimated Value $2,500 - 2,700.
The Dr. Robert Hesselgesser Collection.

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$2,645
Lot 3523
1920-S $20 St. Gaudens. PCGS graded MS-64. PCGS #11617032. Lovely golden toning and well struck. A very rare date. We are pleased as punch to have been consigned this extremely rare coin for auction. Throw away the mintage figures since, of the 528,500 struck, perhaps no more than a few score survive today in all grades. The rest were melted or otherwise lost. This date is so rare that Breen estimated the number to survive at 8-12 when he compiled the data for his Encyclopedia in the 1970s. Today, with the advantage of the PCGS and NGC Population Reports a fair number (but not a large number) have been graded by PCGS and NGC services. The census no doubt includes some duplication between them, so the total might be adjusted downward. This attractive MS64 is one of the best, as PCGS reports only 13 this high, with four graded higher! Carefully struck for the date, with full details on the devices, and just a minor scattering of ticks limiting this from full gem status. Identifiable by a small above the 20 in the date and another, among several, below the lowermost leaves of the branch in Liberty's outstretched hand. Booming luster and a wonderful example for the specialist to purchase for a date set. One of the centerpieces among the double eagle offerings in this sale, we feel it is destined for similar distinction in an advanced collection of this beautifully rendered gold series. Pop 13; 2 in 65, 2 in 66 (PCGS # 9171) .
Estimated Value $125,000 - 150,000.
The Dr. Robert Hesselgesser Collection.

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$166,750
Lot 3524
1921 $20 St. Gaudens. PCGS graded MS-65 PQ. PCGS #11617047. Nice light even golden toning on both sides. Near perfect fields. A beautiful well struck coin. And a key date for this series, lest it be forgotten. Among the finest known 1921 Saint-Gaudens $20 gold pieces. Similar examples have sold for one million dollars. Gorgeous Brilliant Uncirculated and solidly, like the Hope Diamond, in the Gem category is this magnificent specimen. The gleaming fresh yellow-gold luster astounds one and all with its wisp of enchanting pale orange hues, the coin blossoming with vigorous cartwheel spin. Put a strong magnifying glass to the coin and you just might find a few scattered marks, but they are so tiny and obscure as to be lost in the wonderfully rich golden glow. An incredibly rare year from a rather low mintage of only 528,500 pieces made in the depth of a typical but fortunately short business depression following the War boom of 1914-18. It is common to find many other dates in the series, particularly those struck in the 1920s and 1930s, were stored in U.S. Treasury and Federal Reserve Bank vaults as backing for the currency and demand and savings accounts. Many now doubt were melted in the mid-1930s, with few reaching general circulation at the time of issue. Fewer still were preserved in Mint State, let alone Gem Mint State.

A good place to begin the learning curve is to obtain a copy of Q. David Bowers' recent publication, A Guide Book of Double Eagle Gold Coins. Under the heading for the 1921 coinage, we learn that "While some have sneaked into the market in recent years, and offerings of the past decade are more numerous than in earlier times, no quantities of hundreds or more Mint State pieces have turned up, unlike the case for certain former rarities later in the decade. For the well-moneyed specialist the 1921 is one of the supreme challenges of this decade." Bowers goes on to suggest that perhaps as few as 40 to 60 examples exist in Mint condition, listing but a single MS65 and one MS66 in his table of "field population" and "certified population" statistics.

This specimen, far superior to the usual weakly struck 1921, possesses needle-sharp obverse details. There is a full nose and complete toes on Liberty, outstanding too, the drapery folds and torch and branch. Needle-sharpness carries over to the reverse side of the coin as well, where such a majestic eagle soars across the field as to cause one to hold one's breath in amazement. What's more, this specimen has none of the usual "brushed" appearance of lesser quality pieces; the fields and devices are rich and frosty. At the 2007 ANA Convention this coin was on display at our table, David Akers, Double Eagle expert, viewed the coin and deemed it the 3rd Finest Known. He also said the coin should have been graded Mint State 66. Pop 3; 1 finer in 66 (PCGS # 9172) .
Estimated Value $750,000 - 850,000.
The Dr. Robert Hesselgesser Collection.

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$1,012,000
Lot 3525
1922 $20 St. Gaudens. PCGS graded MS-65. Nice light gold toning with frosty surfaces throughout. A well-struck Gem. Pop 998; 7 finer in 66 (PCGS # 9173) .
Estimated Value $1,500 - 1,600.
The Dr. Robert Hesselgesser Collection.

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$1,955
Lot 3526
1922-S $20 St. Gaudens. PCGS graded MS-65 PQ. A hint of light gold toning. Well struck Premium Quality example. The mint at San Francisco struck 2,658,000 double eagles in 1922. That is in the archival records. What fails to be seen, however, and the link to this coin's importance, is the large number that were melted during the 1930s. The 1922-S is not a rarity in this series when all grades are bundled together. Indeed, a fair number of these were imported from hoards of double eagles in Europe, all of which were in lower to mid-level Mint State grades. This glittering example is, however, tops in its class with full frosty orange-gold luster and hints of other hues, all of them shimmering, iridescent. The gem-quality surfaces are clearly superior to just about any other MS65 example sold recently. That explains our Premium Quality qualifier. It is sharply struck with sharply defined design elements on both sides, and one for the sharp bidder to acquire for his set. Pop 10; 2 finer in 66 (PCGS # 9174) .
Estimated Value $35,000 - 40,000.
The Dr. Robert Hesselgesser Collection.

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$39,100
Lot 3527
1923 $20 St. Gaudens. PCGS graded MS-64. Mostly untoned with radiant luster throughout (PCGS # 9175) .
Estimated Value $900 - 950.
The Dr. Robert Hesselgesser Collection.

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$1,208
Lot 3528
1923-D $20 St. Gaudens. PCGS graded MS-66. Rich light gold toning on both sides. The fields are almost perfect. Velvety to satin-like surfaces almost stagger under the weight of its highly lustrous warm golden glow. In fairness to objectivity, the luster isn't the be-all and end-all of the grade although it matters most on first impression. Consider strike: a sharp impression was left by the recoil of the dies that struck this handsome '23-D twenty. Just the coin to cheer up any Type Set of United States gold coins. Pop 1,294; 57 finer in 67 (PCGS # 9176) .
Estimated Value $2,200 - 2,400.
The Dr. Robert Hesselgesser Collection.

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$2,990
Lot 3529
1924 $20 St. Gaudens. PCGS graded MS-66. Rich orange and golden toning. A very nice coin. The blazing golden-toned surfaces are smooth from rim to rim with no copper spots to report. Sharply struck and wholly lustrous, both sides possess eye appeal to spare. Pop 6,793; 80 finer, 79 in 67, 1 in 68 (PCGS # 9177) .
Estimated Value $2,000 - 2,200.
The Dr. Robert Hesselgesser Collection.

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$3,450
Lot 3530
1924-D $20 St. Gaudens. PCGS graded MS-64. A well struck and mostly untoned coin. Nice for the grade. The surfaces on this handsome coin are judged by us to be bright gold in color, and quite lustrous, with the grade acting on behalf of its outstanding quality. This is a strongly struck example, with sharp detail on all the important high points. Where sometimes you'll see the add on "with the possible exception of these regions (standard for the issue)", we are encouraged to say that no such postscript is required. The 1924-D is the first of the scarce to rare branch mint dates that continue through the end of the Saint-Gaudens double eagle production run. Most Mint state example in collections today stem from European hoards of the 1950s, 1960s, and 1970s. Writing in 1988, Breen stated that a further 70 pieces were discovered in the summer of 1983. (Perhaps these coins were in the same Central American hoard from which several Mint State 1909-D and 1922-S pieces were found at around this time?) This coin is simply outstanding, and we expect numerous bidders to agree and to compete for the honor of possessing it. Pop 132; 9 finer, 7 in 65, 2 in 66 (PCGS # 9178) .
Estimated Value $10,000 - 12,000.
The Dr. Robert Hesselgesser Collection.

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$11,500
Lot 3531
1924-S $20 St. Gaudens. PCGS graded MS-64. Lovely shades of golden toning. Scarce coin. Decades ago, the heavily melted 1924-S double eagle was, like many mintmarked dates in the 1920s, considered to be an extremely rare Saint-Gaudens issue. A modest resettlement of pieces from European hoards now causes this to be a median scarcity, similar in both certified census and quality rarity to the 1924-D. Survivors tend to range in grade from AU 58 to MS 63, while Choice and better specimens along the lines of this MS64 are still of the utmost rarity. This important example beams with frosty warm gold surfaces, with devices that are well detailed in all areas and overlaid in blushes of reddish patina. Owning such a piece can be splendid fun for a collector of means. Only a few numbers of people ever get to do so, and from all accounts, enjoy themselves tremendously. Bidders must steel themselves for competition in the auction room. Pop 92; 3 finer, 2 in 65, 1 in 67 (PCGS # 9179) .
Estimated Value $10,000 - 12,000.
The Dr. Robert Hesselgesser Collection.

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$10,925
Lot 3532
1925 $20 St. Gaudens. PCGS graded MS-66. Well struck with lovely gold toning. A frosty gem. Pop 960; 5 finer in 67 (PCGS # 9180) .
Estimated Value $2,000 - 2,200.
The Dr. Robert Hesselgesser Collection.

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$2,415
Lot 3533
1925-D $20 St. Gaudens. NGC graded MS-65. NGC #2090959-012. Like the 1924-D twenty, the 1925-D also had its rarity ranking readjusted since the mid-20th century by the emergence of a few small hoards overseas. While both dates are similar in overall rarity, the edge in high grades such as this resplendent MS65 goes to the 1925-D. We have not offered a Gem for quite some while, and we also have no need to remind bidders that an MS65 example appearing at auction is an event worth remembering. Typically well impressed for the issue, the devices rise boldly above the fields with solid overall definition. The luster is frosty throughout, the surfaces bathed (dare we say "refreshed") by original reddish-gold color. A tiny mark is seen on Liberty's brow; this is the only worthwhile pedigree marker to use, along with the aforementioned grading holder serial number.

Regarded coolly, without moving from the chair in which you are seated reading this, we can honestly say that to find another incredible beautiful gem like this, especially at the visual level this coin supplies the viewer, is an undertaking not to be sneezed at. You might as well hope to climb Mount Everest or book passage on the first Space Shuttle flight to the Moon! Miss Liberty seemingly glides forth from a rich glowing orange rose aura into the bright golden dawn, while a whisper of the same lovely orange and warm gold hues spreads throughout the eagle's plumage on the reverse. Do not let the mintage figure of more than 2.9 million pieces fool you; it fails to take into consideration the fact that most of these were stored in bank vaults or at the various Treasury buildings and Federal Reserve Banks in the late 1920s and early 1930s. During the gold recall of 1933-34, nearly all the issue was put behind locked doors and later transferred to deep storage at the newly built Fort Knox (1937). In the latter half of the 1930s, almost all of the millions of double eagles that the government seized were melted, to be refashioned into 90% "coin gold" (as opposed to "good delivery .995 fine) 400-ounce gold bars. Only a individual pieces few escaped the melting furnaces. Some of those headed overseas during the bank panics of 1931-33. Indeed, the 1925-D double eagle was once thought of as a major rarity by collectors. It was only after a few had been brought back from Europe that the price has come down within the reach of advanced collectors. Before this time, only an extremely wealthy individual on a par with Andrew Mellon or Edward Green could hope to obtain one. The present Gem gets our nod (and NGC's stamp of approval) for physical originality and attractiveness. It belongs in a world-class collection. Pop 7; 1 finer in 66 (PCGS # 9181) .
Estimated Value $70,000 - 80,000.
The Dr. Robert Hesselgesser Collection.

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$74,750
Lot 3534
1925-D $20 St. Gaudens. PCGS graded MS-64. A light hint of gold toning. Frosty. Like the 1924-D twenty, the 1925-D has had its ranking readjusted since the mid-20th century by the emergence of a few small hoards overseas, thereby lessening the rarity. While both dates are similar in the numbers available, the edge in higher grades goes to the 1925-D. We are pleased to offer this Dr. Hesselgesser specimen in MS64. The luster is radiant throughout, the surfaces layers in original orange-gold color. A few light marks are present on the eagle, and thin die crack snakes through the word LIBERTY on the obverse. All devices are clear to bold (excepting, as usual, Liberty's toes which occur at a high point on the struck coin and rarely filled the die.)

Regarded dispassionately, we can honestly say that to find a similar beautiful example like this, is an task not to be taken lightly. Only a few score escaped the melting furnaces. Others headed overseas during the bank panics of 1931-33 and afterwards (the government went off the gold standard internally, but continued to pay gold to international bankers). Indeed, the 1925-D double eagle was once considered to be a major rarity by collectors. Those repatriated from Europe have caused the availability to go up and prices to come down within the reach of serious collectors. A marvelous opportunity! Pop 104; 5 finer, 3 in 65, 2 in 66 (PCGS # 9181) .
Estimated Value $18,000 - 20,000.
The Dr. Robert Hesselgesser Collection.

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$19,550
Lot 3535
1925-S $20 St. Gaudens. PCGS graded MS-63. A hint of light gold toning with a coppery orange halo outlining the rim. Attractive for the grade. While the 1924-D, 1924-S, and 1925-D are similar in their availability in Mint State (less often found in circulated grades), the 1925-S reverses this trend since most are seen with some degree of wear, and is one of the tragedies in the life of an earnest double eagle collector hoping to complete a set in full Mint condition. We're very sorry, but it can't be helped. In the choicer Mint State grades, we should point out, the '25-S is one of the rarest Saint-Gaudens double eagles. This is an eye-catchingly attractive coin that collectors will appreciate, and also a scarce once at this Brilliant Uncirculated grade level. Inspection reveals few abrasions of any size, and the color is a rich blend of orange-gold and honey-gold shades with the aforesaid deeper color highlighting the stars. With the exception of the lower obverse devices and the toes on liberty (which are typical areas of striking softness), every feature is nicely detailed. The rolled or beveled rim on the reverse is a feature seen on many San Francisco Mint double eagles. Pop 74; 25 finer (PCGS # 9182) .
Estimated Value $18,000 - 19,000.
The Dr. Robert Hesselgesser Collection.

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$18,400
Lot 3536
1926 $20 St. Gaudens. PCGS graded MS-66. Well struck with light gold toning. A nice golden luster shoots from this Gem, delighting the eye with its color and radiance. Pop 628; 3 finer in 67 (PCGS # 9183) .
Estimated Value $2,000 - 2,200.
The Dr. Robert Hesselgesser Collection.

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$2,875
Lot 3537
1926-D $20 St. Gaudens. PCGS graded MS-64. Lightly toned on both sides. Scarce "D" mint Saint-Gaudens. Long a major rarity, today the 1926-D is still among the scarcest Key dates in the Saint-Gaudens series, with only a few hundred known to exist. Typical grades are Mint State 60 to 63, while gems are rare. The present example is lustrously brilliant and displays refreshingly original orange-gold color, save for just some like pinkish rose around Liberty and in the areas protected by the sun rays. All told it is extremely attractive, sitting close to the high end of the curve as it compares favorably with some that have been called Mint State 65.

In the context of the 1920s, the mintage for the 1926-D was on the low side with a mere 481,000 pieces struck. As has often been pointed out, only a few score were released by the banks, perhaps as few as a thousand or so. The Hesselgesser Collection contains some of the finest, rarest Saint-Gaudens double eagles ever offered for sale, with this lovely piece paired up with another '26-D in the accompanying lot, both similarly graded, both equal in their grace and natural beauty. Pop 16; 5 in 65, 2 in 66 (PCGS # 9184) .
Estimated Value $65,000 - 70,000.
The Dr. Robert Hesselgesser Collection.

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$69,000
Lot 3538
1926-D $20 St. Gaudens. PCGS graded MS-64. Nice golden toning on both sides. Another rare date. Almost the twin of the other specimen as it has all the defining features: a bold strike with equally bold color and frosty luster, plus the height in rarity, and all carefully preserved in a PCGS certification holder to shield its delicate beauty. Both sides are soaked in copper-gold iridescence that accents the burgeoning luster. We feel it is a certainty that every prospective bidder will regard this piece positively, with moving emotions and a firm resolve to bid to the limit. Pop 16; 5 in 65, 2 in 66 (PCGS # 9184) .
Estimated Value $65,000 - 70,000.
The Dr. Robert Hesselgesser Collection.

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$74,750
Lot 3539
1926-D $20 St. Gaudens. PCGS graded MS-64. Lightly toned. Only 481,000 minted. When coin experts gather to talk about this issue, they agree that in every respect except one, the 1926-D is identical in rarity to the 1925-S. The one point in which they sometimes differ is that the 1925-S is more often found circulated whereas the 1926-D is nearly always in fresh Mint State. Today, opinion has shifted slightly to favor the 1926-D. We have been auctioning examples of this date for many years, but it is always with great interest that we bring one to you as fine and outstanding as this MS64. Only a handful of finer examples are known. The surfaces here are very choice, though not flawless, with no deep abrasions on either side. We point to a couple of tiny marks on the torch below Liberty's hand, a few on and nearby her forward-projecting knee. The eagle has virtually none. The striking details are outstanding but for the toes of Liberty and (for some reason seen on most) a weak dome of the Capitol building at the lower left. This 1926-D Saint may have left its happy home in Dr. Hesselgesser's collection, but it is sure to land in an equally appreciative collector once bidding ends. Pop 16; 7 finer, 5 in 65, 2 in 66 (PCGS # 9184) .
Estimated Value $65,000 - 70,000.
The Dr. Robert Hesselgesser Collection.

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$66,125
Lot 3540
1926-S $20 St. Gaudens. PCGS graded MS-65. Lovely array of golden toning on both sides. Just a small percentage of the coins from this Mint in 1926 are believed to be left for collectors to fight over. From an original mintage in excess of 2 million pieces, the Mint State population shrinks like plastic wrap in the hot sun above the MS63 and MS64 level. This blazing Gem MS65 boasts a pleasing, virtually full strike, and also exhibits appealing shades of color. The satiny luster is lovely as well, smooth and complete, and helps to accent the carefully maintained features. A small contact mark is visible left of the torch's tip, and a minor mark at Liberty's forehead. Meanwhile, the eagle is immeasurably finer and gemmier than the eagles seen on just about every other 1926-S double eagle in high grade; bagmarks seem to plague the issue. An attractive and high-end example of this extensively melted date. (Most third-party graded 1926-S twenties fall into the MS62 to MS64 grade range. Specimens grading as high as the present example can be considered very scarce, as these figures shows: Pop 24; 2 finer in 66 (PCGS # 9185) .
Estimated Value $24,000 - 26,000.
The Dr. Robert Hesselgesser Collection.

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$25,300
Lot 3541
1927 $20 St. Gaudens. PCGS graded MS-66. Lovely rich golden toning. A nice bold strike to go with its first-rate gem quality surfaces. Pop 4,534; 12 finer in 66 (PCGS # 9186) .
Estimated Value $2,000 - 2,200.
The Dr. Robert Hesselgesser Collection.

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$3,120
Lot 3542
1927-S $20 St. Gaudens. PCGS graded MS-63 PQ. Lovely golden toning on both sides of this Premium Quality coin. A very rare date. At times, we tend to wax lyrical in our descriptions of rare coins; however, often the coin deserves special mention. The '27-S is one of the most challenging issues in the Saint-Gaudens series of double eagles, a San Francisco mint date to test the determination of any serious collector. Very few have been certified. Very few exist out of the original mintage of 3.1 million, most are in About Uncirculated or Mint State. Only a handful of gems exist (we provide the population figures at the end of this description), and it is a rare thing to see a 1927-S appear in an auction. This has always been the case and will likely continue to be so.

The warm-toned example offered in the present lot displays splendid peach-gold accents that becomes a shade or two more saturated near the centers and over portions of the reverse. Each side is ablaze in fresh luster, while the design details are crisply struck throughout. A handful of inconsequential bagmarks does not impinge in the least on the overall visual impact provided by this lovely S-Mint rarity. Pop 21; 13 finer, 5 in 64, 5 in 65, 2 in 66, 1 in 67 (PCGS # 9188) .
Estimated Value $45,000 - 50,000.
The Dr. Robert Hesselgesser Collection.

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$51,750



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