Lot 2629
1921 $20 St. Gaudens. PCGS graded MS-65 PQ. PCGS #11617047. Nice light even golden toning on both sides. Near perfect fields. A beautiful well struck coin. And a key date for this series, lest it be forgotten. Among the finest known 1921 Saint-Gaudens $20 gold pieces. Similar examples have sold for one million dollars. Gorgeous Brilliant Uncirculated and solidly, like the Hope Diamond, in the Gem category is this magnificent specimen. The gleaming fresh yellow-gold luster astounds one and all with its wisp of enchanting pale orange hues, the coin blossoming with vigorous cartwheel spin. Put a strong magnifying glass to the coin and you just might find a few scattered marks, but they are so tiny and obscure as to be lost in the wonderfully rich golden glow. An incredibly rare year from a rather low mintage of only 528,500 pieces made in the depth of a typical but fortunately short business depression following the War boom of 1914-18. It is common to find many other dates in the series, particularly those struck in the 1920s and 1930s, were stored in U.S. Treasury and Federal Reserve Bank vaults as backing for the currency and demand and savings accounts. Many now doubt were melted in the mid-1930s, with few reaching general circulation at the time of issue. Fewer still were preserved in Mint State, let alone Gem Mint State.
A good place to begin the learning curve is to obtain a copy of Q. David Bowers' recent publication, A Guide Book of Double Eagle Gold Coins. Under the heading for the 1921 coinage, we learn that "While some have sneaked into the market in recent years, and offerings of the past decade are more numerous than in earlier times, no quantities of hundreds or more Mint State pieces have turned up, unlike the case for certain former rarities later in the decade. For the well-moneyed specialist the 1921 is one of the supreme challenges of this decade." Bowers goes on to suggest that perhaps as few as 40 to 60 examples exist in Mint condition, listing but a single MS65 and one MS66 in his table of "field population" and "certified population" statistics.
This specimen, far superior to the usual weakly struck 1921, possesses needle-sharp obverse details. There is a full nose and complete toes on Liberty, outstanding too, the drapery folds and torch and branch. Needle-sharpness carries over to the reverse side of the coin as well, where such a majestic eagle soars across the field as to cause one to hold one's breath in amazement. What's more, this specimen has none of the usual "brushed" appearance of lesser quality pieces; the fields and devices are rich and frosty. At the 2007 ANA Convention this coin was on display at our table, David Akers, Double Eagle expert, viewed the coin and deemed it the Third Finest Known. He also said the coin should have been graded Mint State 66. Pop 3; 1 finer in 66 (PCGS # 9172) .
Estimated Value $750,000-UP.
The Dr. Robert Hesselgesser Collection.
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