Lot 1318
1925-D $20 St. Gaudens. NGC graded MS-65. In NGC holder 1812921-001. A brilliant untoned gem, well struck and sparkling with frosty mint luster. A few stray contact marks here and there, none of which are too serious.
Like the 1924-D $20, the 1925-D had its rarity ranking revised since the mid-20th century by the emergence of a few small hoards overseas. While both dates are similar in rarity, the edge in high grades such as this dazzling MS65 goes to the 1925-D. We have offered only a few Gems over the years, and there is no need to remind bidders that a Mint State 65 example appearing at auction is an event. Typically well impressed for the issue, the main devices rise sharply above the fields with solid overall definition. The luster is frosty throughout, the surfaces bathed (dare we say "refreshed") by original pinkish gold color, very pretty, extremely attractive. A tiny mark is seen on Liberty's forward leg just below the knee; this is the only worthwhile provenance marker to use, along with the aforementioned grading holder serial number. The spectacular surfaces are far nicer than average for this numerical grade, as the photographs clearly show.
Regarded unemotionally, without fear of contradiction, 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. Liberty glides effortlessly forth from a rich sun-drenched aura into the bright golden dawn while the eagle's plumage on the reverse shows even its tiniest detail. The mintage of 2.9 million pieces sometimes fools collectors into think this year isn't all that rare; however, 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 form of "coin melt" bars. In the latter half of the 1930s, millions of double eagles were melted into bars. Indeed, the 1925-D double eagle was once thought of as a major rarity by collectors. It still is very scarce, and incredibly rare in Gem condition. It may be that only a few have been brought back from Europe in the 1960s and 1970s. 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 $90,000 - 100,000.
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