Lot 2691
1913 $20 St. Gaudens. NGC graded Proof 65. The Sandblast Proofs of this year are very rare, perhaps even more so than the previous two years. The mintage being a mere 58 pieces, these coins were rare even at the time of issue. It was long erroneously believed that perhaps as few as 12-15 (Bowers) and as many as 20-25 (Akers) examples exist today. These estimates are derived in part on Breen's having been only able to trace sale records of five specimens for his 1977 Proof book. Akers recorded 14 appearances over the 40 years covered by his survey of auctions. Census numbers of survivors point to as high as 35 coins with many duplicate submittals not accounted for in the published figures, still a small number when viewed against the numbers of wealthy collectors of Proof U.S. gold.
The sand-blast surface on the 1913 double eagles is close to that seen on the 1911 and 1912 Proofs. However, this coin closely resembles a 1908 with its reddish-khaki color. The depth and purity of color on this coin is really something, and would serves to highlight the razor-sharp devices. An immaculate Gem Proof by any standards! Only 58 struck. Pop 11; 22 finer.
In 1908, the Philadelphia Mint introduced the sandblast finish on gold Proofs. After criticism from the numismatic community, the Mint altered its procedure, dropped the sandblast style and struck the satin finish. This, too, proved to be an anathema to collectors, so the first technique was revived for 1911-15. In Mint correspondence of the period, Charles E. Barber called the satin finish "bright", while other officials in their correspondence referred to the sandblast pieces as "dull" Proofs. Assistant Secretary Piatt Andrew wrote this to Treasury Secretary Woodin on September 22, 1909, "It appears that the ordinary proof coins are given this dull finish by means of a sandblast." All sandblast Proofs of either type (1908, 1911-15 or the "satin" 1909-10) have a square rim edge as a distinctive point.
Estimated Value $50,000 - 55,000.
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