Lot 1320
1929 $20 St. Gaudens. PCGS graded MS-65. Well struck and intensely lustrous bursting with brilliant golden hues. Luster this dominant is sure to attract a lot of attention to its fresh golden frostiness. In this way, from first to last, the luster glows. Furthermore, from top to bottom as it were, from the highest points on the design to the wide open spaces, the strike is as keen as any seen on a 1929 rarity. Liberty has a full nose and complete other facial expression free from scuffs; complete drapery folds in her billowing dress; the eagle displays complete breast feathers (a detail that is often contentious on some dates, but fortunately not 1929). In short, a razor-sharp coin. The lucky bidder will never feel that he has been stung by some pungent mistake when he leaves the sale as the new owner. Far from any chastisement, those in the know will realize and recognize that the coin in some ways outclasses an even higher grade specimen. Pop 22; 5 in 66 (PCGS # 9190) .
Gold note: First noticeable in Germany in late 1928, and slowly developing a head of steam like some fast accelerating locomotive, the world's money managers began to withdraw gold coins from the banks of Europe, England and the United States as the stock market crash and developing business depression started to bite. Coins like the $20 gold piece in America formed the basis of the monetary system over here under the Gold Standard. By 1930, but especially in the troubling years 1931 to 1935, vast amounts of American gold in the form of coins as well as bullion bars, were withdrawn from the banking system and shipped overseas. That is why so few circulated dates from 1928 to 1933 exist in this series; they never, in fact, made it into circulation. Many (most?) were later melted.
Estimated Value $75,000 - 80,000.
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| Realized $77,625 |
