Lot 2703
1926-D $20 St. Gaudens. PCGS graded MS-62. Popular semi key date. Mostly untoned with some minor bag marks. Within the framework of the popularly collected dates in the Saint-Gaudens double eagles, the 1926-D is one of the most hard to get hold of of its era. The present specimen displays fresh brilliant luster and there is an underlying small luster graze below the outstretched arm that collectors can use to identify this particular specimen. All told it is very attractive. It compares positively with some that have been called Mint State 63.
During a series of banking panics, the government seized all gold coins in April 1933; other countries saw no need to adopt this policy at the time (the bank panics were worldwide), but the fact remains that production figures for the 1926-D (481,000 pieces) tell only a part of the story. It is likely that of these, only a few were distributed, possibly a thousand or so. Double eagles were the mainstay of export payments and used as backing for the currency and bank deposits, in those days. Most remained in bank vaults. When the government transferred ownership from their rightful owners to itself, it was an easy task to move the coins into Federal Reserve and Treasury vaults. Millions of double eagles were later melted beginning in 1937. Today, the population of 1926-D is likely no more than 500 pieces, making it a rarity. This choice MS62 specimen is a reminder of that fast receding era when the economy was based on the Gold Standard. Pop 40; 63 finer; 40 in 63; 16 in 64; 5 in 65; 2 in 66. (PCGS # 9184) .
Estimated Value $26,000 - 28,000.
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| Realized $28,175 |
