Lot 3236
1914-S $20 St. Gaudens. PCGS graded MS-65. Well struck and lightly toned. Glistening fields rise and fall with original golden mint bloom. Against this are set serious, frosty design elements. Pop 1,835; 102 finer (PCGS # 9166) .
1914 is a propitious date to have a nice run of double eagles like this beautiful Gem BU MS65. For it was a year that shook the foundations of civilized life from Europe to Britain and from America to the South Seas continent of Australia. On July 31, 1914, as war declarations spread throughout Europe presaging the First World War, the U.S. Treasury Secretary, William McAdoo shut the New York Stock Exchange for an unprecedented four months to hamper British sales of American securities. Why did he do this? The plan was to keep the British from draining American gold with the dollar proceeds from sales of U.S. stocks and bonds. (McAdoo desired to protect America's gold coin & bullion supply at a time when the 12 Federal Reserve Banks had yet to be fully supplied with the metal before their anticipated opening later that year.) Read further in subsequent listings for how this amazing story panned out, and how America barely escaped economic catastrophe only by the wise actions of William McAdoo, a man sadly forgotten by all but a few die-hard bushy-browed historians wearing tweed coats and bowties.
Estimated Value $1,650 - 1,700.
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| Realized $2,128 |
