Lot 2312
1916-S. PCGS graded MS-65+. Well struck and frosty. A very gemmy coin. Glistening fields rise and fall with original golden mint bloom. Against this are set serious, frosty design elements. Deficiency isn't in the cards either when it comes to this coin's detail, in fact, outstanding is the word to describe the striking detail on all devices. Pop 2 in the new plus grade (PCGS # 9169) .
Of the belligerent states engaged in World War I during the time this $20 gold piece was minted, only the United States of America remained on a gold standard, paying out and receiving the yellow metal in day-to-day transactions with only a single, though noteworthy, interruption from Aug-Dec 1914. Double Eagle mintage was suspended in 1917-19, but resumed in 1920. The 1916-S is one of the most popular issues in the series. In the early 1970s, the firm of Bowers and Ruddy acquired a group of 250 original, uncleaned specimens from an old European bank hoard of 500. When these were offered for sale at $119 apiece (maximum allowed, 5 per person), a price that indicates they were sold before the big run-up in gold's price in the later-1970s, the entire hoard was sold out in four days!
Estimated Value $2,100 - 2,200.
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| Realized $2,645 |
