Lot 3238
1914-S $20 St. Gaudens. PCGS graded MS-65. Lovely golden toning. Intense but still satiny frost, the coin lightly toned to a soft golden color through which all radiance persists almost undiminished. Pop 1,835; 102 finer (PCGS # 9166) .
During The Great War of 1914-18, America was the only country that honored the gold standard by standing ready, willing, and most importantly able, to redeem any and all demands for gold payment brought to the window of the Treasury Department and the banks. The rest of the Warring nations were forced to come hat in hand to Wall Street and the U.S. Treasury for loans and ready payment to supply themselves with war materiel. It was only after 1916 that the U.S. Mints ceased making gold coins until stability returned in 1920. Even then, the supply was adequate to meet all demands for payment in specie "on demand" as required by the gold standard. Double eagles such as this were key to backing the currency and bank accounts of Americans, businesses and government entities throughout the troubled war years.
Estimated Value $1,650 - 1,700.
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| Realized $2,156 |
