Lot 1981
1922-S. NGC graded MS-65. A brilliant untoned gem specimen. In modern times many 1922-S double eagles have appeared on the auction scene, in sharp contrast to the vaunted rarity of the variety in early times. Most are in Mint State 60 to 63, however, and bagmarked; anything finer remains a rarity. While somewhat over 1,000 examples are estimated to exist, the floating supply in the market at any one time is very small, confirming the great demand for key date Saint-Gaudens double eagles and also the fact that many are in the major collections -- or in the hands of investors for the most part who are not an active part of the coin collecting fraternity. It seems likely that most of the 1922-S coins were retained in the United States and melted in 1937. However, thousands were exported. This was an ideal situation for the numismatists, as foreign banks held in reserve many coins that would have been destroyed had they remained in America.
The 1922-S double eagle used to be in the "impossible" category, in point of fact. In recent generations quite a few have returned from overseas, making the variety obtainable. To reiterate: high grades, especially gem preservation as offered here, remain very difficult to obtain. Given the extensive experience of NGC, dating back to 1980s, only eleven other certification events have taken place at this level (not necessarily representing different coins), and just three higher.
For the specialist in Saint-Gaudens twenties the present coin is a rare catch, one of the highlights of the $20 gold selection in our present sale. Pop 12; 3 finer in 66 (PCGS # 9174) .
Estimated Value $30,000 - 35,000.
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| Realized $28,750 |
