Lot 4125
1925 $20 St. Gaudens. PCGS graded MS-64. After 1914, only America returned to a genuine Gold Standard. The rest of the world went on either a Gold Bullion Standard (with no circulating gold coins), as in Great Britain, or an even weaker Gold Exchange Standard (the rest of Europe and Asia) with ties to the U.S. dollar and only then to the gold in America's Federal Reserve. That is why we see the increase in coinage of twenty-dollar gold pieces in the 1920s, which were used as backing for our "good as gold" bank deposits and currency. Unfortunately, the whole drunken scheme "blew up with a loud report" in 1931-33, during the panic and banking crises of those years (PCGS # 9180) .
Estimated Value $750 - 800.
Frank McCarthy Collection.
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| Realized $834 |
