Lot 2317
1921. NGC graded MS-61. Lovely golden toning. A popular key date. Frosty Mint quality and just shy of the Choice category. This bold example of the rare 1921 issue has full bright yellow-gold luster with a normal wisp of pinkish red to enhance the coin, the luster illustrating the memorable cartwheel display. A few scattered marks are to be found on the obverse, while the reverse boasts a suitable satin-like and more mark-free surface. We note a faint line in the color at the eagle's beak. A mintage of 528,500 pieces would seem to make the 1921 a fairly affordable issue compared to similar-mintage years in the series; one thing differentiates it, however, the coin was produced in the depths of a short, sharp post-World War I business depression. Like other dates in the series, much of this issue was stored in banks, at the Federal Reserve, or in U.S. Treasury vaults. Presumably these met the same fate in 1933-37 as so many millions of other $20 gold pieces, they were melted.
In terms overall rarity, the 1921 is considered fourth rarest in the Saint-Gaudens double eagle series after the 1907 Ultra High Relief, 1927-D, and 1933. This issue is difficult to locate in Mint State, more so than even the 1930-S and 1931-D. That makes this an offering of significant importance to 20th century gold collectors. Again, both sides display original golden patina and swirling luster. Pop 16; 20 finer (PCGS # 9172) .
1921 is the year President Warren Gamaliel Harding (1921-23) took office as the 29th President of the United States. He was a decent man of reasonable talents say some. He held poker games in the White House twice a week, historians note. And whenever he got a chance, he sneaked away to a burlesque show. The ladies loved him; he returned the favor. These pastimes seemed enough for the man; they helped him bear up in his eminent role and keep him from wanting to do anything. Another saving grace was that Harding neither thought nor spoke clearly enough for anyone to figure out what he was saying. He couldn't rally the troops and get them behind his ideas; he had none. And even if he tried, they wouldn't comprehend him.
H.L. Mencken, the social commentator and political gadfly of the twenties, preserved a bit of what he called "Gamalielese," just to hold it up to ridicule:
"I would like government to do all it can to mitigate, then, in understanding in mutuality of interest, in concern for the common good, our tasks will be solved."
The sentence is so idiotic and meaningless, it could have come from the mouths of any of our recent high officials. But the crowds seemed to like the way Harding delivered it. He said it with such solid conviction, it "was like a blacksmith bringing down a hammer on an egg," says Mencken.
Estimated Value $90,000 - 100,000.
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