Lot 3797
1925-D $20 St. Gaudens. PCGS graded MS-63. Lovely light gold toning. A popular key date. Like the 1924-D, the 1925-D also had its rarity ranking readjusted by the discovery of a few small hoards overseas. Both dates are similar in overall rarity, the edge in high grades goes to the 1925-D. We are always delighted to be able to offer a choice Mint State example. Typically well impressed for the issue, the devices rise boldly above the fields with solid overall definition. The luster is frosty in quality, and the surfaces are bathed in original color. A small scuff is seen on the reverse lower sun rays; this is the only discrete pedigree marker. Some light contact marks in the field account for the MS63 grade.
It is wisest never to let the mintage figure of more than 2.9 million pieces distract you; the fact is 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 were put behind locked doors and later transferred to deep storage at the newly built Fort Knox (1937). In the latter half of the 1930s, almost all of the millions of double eagles that the government seized were melted, to be refashioned into 90% "coin gold" (as opposed to "good delivery .995 fine) 400-ounce gold bars. Only a few escaped the melting furnaces. Some of those went overseas during a series of bank panics in 1931-33. Indeed, the 1925-D double eagle was once believed to be a major rarity by collectors. It was only after a few returned from Europe that the price has come down within the reach of advanced collectors. Before this time, only an extremely wealthy individual like Andrew Mellon or Edward Green could hope to obtain one. The present Choice coin gets our nod (and the PCGS stamp of approval) for physical originality and attractiveness. It belongs in a world-class collection. Pop 103; 138 finer (PCGS # 9181) .
Estimated Value $8,500 - 9,000.
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