Lot 2600
1912 $20 St. Gaudens. PCGS graded MS-62. A trace of golden toning accents both sides on this well struck $20. A better date. When a questioner asked the most powerful banker in the world, J. P. Morgan, at a Senate Select Committee Hearing around this time What is Gold, he replied that "Gold is money, and nothing else is." Twenty one years later, in a time of great distress, the U.S. government passed a law that paper is money, not gold. In 1912, a $20 bill would trade at par for this $20 gold piece. Today, it takes upwards of 75 $20 bills to acquire it! (Looks like J. P. Morgan was right all along.) (PCGS # 9160) .
Estimated Value $1,500 - 1,550.
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| Realized $1,380 |
