Lot 4152
1929 $20 St. Gaudens. PCGS graded MS-63. Very popular key date. Always in demand. Although not as widely known among the general collecting public as the more publicized dates of the 1930s, the elusive 1929 opens the final chapter of the Saint-Gaudens Double Eagle story where every issue henceforth through the year 1933 is a major rarity. While the 1929 is among the most available dates of this group in terms of overall numbers, it is seldom located at the choice MS63 level. As is characteristic of the issue, this coin displays razor-sharp definition and is minimally abraded. Lovely golden orange color with very frosty luster. There is a short mark above the knee of the longer leg, as well as a few light bagmarks on the trailing "flight feathers" of the eagle. Crisp bloom from the dies like this makes for a very appealing specimen whose reputation among coin collectors is as timeless and rock solid as the sword Excalibur set in the stone in the tale of King Arthur! Pop 36; 101 finer. Many repeats.
The story gold tells of the days immediately after the stock market crash in October 1929, is one of waves of panic. First among residents of foreign lands, then in 1931 panicky withdrawals of gold by European central banks, and later, as the maelstrom built to a frenzy and the panic spread to the "forgotton man." The everyday American bank depositor such as clerks, salespeople, merchants, schoolteachers, all began in the summer of 1932 to hoard gold and paper money. Thousands of people did everything in his or her power to retrieve some semblence savings from the toppling banks. Huge gold flows were clocked out of and back into the banking system throughout this difficult time. When the final blow-up came in March 1933 and the gong sounded with the closing of the banks, little did the average individual realize he'd never see a circulating gold coin again, in his lifetime, or in the lifetime of his heirs.
Estimated Value $28,000 - 32,000.
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| Realized $35,650 |
