The 1920-S double eagle is a prized rarity in the Saint-Gaudens series, and it holds a unique historical position in that assemblage. Before the United States entered the First World War, gold twenties actually circulated in the western part of the country. Coins from that early period are more available today than later dates such as the 1920-S.

The war brought inflation, with consequent rising prices in gold and other metals. Double eagle production in San Francisco was halted in 1916 and did not resume until 1920. A large mintage of 558,000 pieces was produced at the San Francisco Mint that year, but the commercial role of the double eagle had changed. The big gold coins no longer circulated freely, and ordinary citizens seldom saw them. Instead, the government and the banking system kept the coins in reserve. By this time, double eagles served two purposes: The government used some, stored in mint bags, to redeem Gold Certificates. Other coins were used as specie payments to foreign governments and banks.

Private ownership of gold became essentially illegal after the Gold Recall Act of 1933, and most of the government-held coins were melted in 1937, converted into gold bars, and transported to Fort Knox. The coins used in international trade largely escaped this fate, and many of them were found decades later in European banks. Enough circulated specimens of the 1920-S exist to suggest that a few bags may have reached circulation, but examples have never been readily available. Almost all of the mintage was melted. The 1920-S issue was the earliest date subject to this destruction, and it is demonstrably scarce today.

Collecting large-denomination gold coins became popular for the first time during the 1940s. Some of the greatest collections of that era included specimens of the 1920-S double eagle and helped establish the 1920-S as a rare and desirable coin. However, it was the Dr. Charles W. Green Collection, sold by B. Max Mehl in 1949, that really put the coin on the map.

Mehl’s usually terse lot description expanded to eight lines on this occasion. He noted that Dr. Green had purchased the coin at the Bell sale for $160 and asserted it was, “One of the most difficult dates and mints of the Double Eagles to obtain.” The Green sale had a dramatic effect on double eagle collecting in general. (more…)

by Greg Reynolds for CoinLink

On Thursday, Jan. 7, 2010, Heritage’s long awaited Platinum Night event at the FUN Convention in Orlando will include a marvelous array of choice and rare U.S. coins. It is part of a larger auction extravaganza that is held in conjunction with one of the two most important coin conventions of the year, that of the Florida United Numismatists (FUN) organization.

The famous collector Jay Brahin has consigned a select group of Saint Gaudens Double Eagles ($20 gold coins) to be sold on Platinum Night. The most valuable piece from the Brahin collection is a 1927-S Saint that is graded MS-66 by the Professional Coin Grading Service (PCGS).

Brahin’s consignment is of just seven coins, yet these are particularly significant. These seven constitute his entire current collection of Double Eagles and were very carefully selected by him. Jay reveals that he had “no intention of selling is coins, but I [Jay] am selling for personal reasons that are completely unrelated to coins or coin markets. I would have liked to have held these coins for a decade or more. Coins are art to me, and I am proud to have obtained these coins. I love the thrill of the hunt. Finding the coin is more gratifying than selling it.”

Brahin started “collecting coins as a kid.” He “filled coin albums with cents, nickels, dimes and quarters. During vacations, I [Jay] would work $20 in change several times over in one day, by going back and forth to the bank. Over the period of a summer day, I would go to a bank eight or nine times. It was fun. I loved it. I fell off the collecting wagon, but I never lost my love of coins.”

As a teenager, Brahin had other interests. Later in life, in 2002, Jay returned to coin collecting. He “always wanted to own a Saint when [he] was a kid.” So, he “turned to Saints.” Jay saw “Dr. Duckor’s Saint set on the PCGS registry, which was then blocked from view, but his e-mail address was briefly posted. I wrote to him and said I was an admirer of his Barber Half set; I inquired about his Saints. Later, we talked about the philosophy of collecting.” (more…)

(Miami Beach, FL)- November 18 2009, Park Avenue Numismatics has sold the Finest Known example of the 1907 $20 St. Gaudens High Relief Wire Rim graded MS69 PCGS with CAC (Certified Acceptance Corporation) approval for more that $600,000.

“Arguably the most desired of all $20 US gold coins, this Gem was the most incredible High Relief I’ve ever seen in my 25 years as a rare coin dealer ” said Bob Green, President of Park Avenue Numismatics.” It holds a place in numismatic history with a Pedigree to the famous Ed Trompeter collection. We are pleased to have been part of that history” stated Green.

Park Avenue Numismatics has bought and sold many of the rarest $20 St. Gaudens Double Eagles over the last two decades and was awarded recognition by PCGS (Professional Coin Grading Service) for assembling the Finest Know complete set of St. Gaudens, including the scarce 1927-D in 2005.

1907 $20 High Relief, Wire Rim MS69 PCGS. This issue was a revision of Saint-Gaudens’ Ultra High Relief double eagle, as the latter proved impractical for circulation strikes because it required seven blows from a 150-ton medal press to fully articulate the design. The “High Relief” could be struck after just three blows of the medal press. Over 12,000 High Relief twenties were struck by the end of December, 1907.

A so called “Wire Rim” protruded around the outer extremity in the coins, which resulted from excessive metal flow between the die face and collar during the striking process. Unlike today’s collectors who consider the Wire Rim to be a highly collectible variety, Mint officials considered it to be a striking deficiency. This “flaw” in the striking process was corrected around mid-December, and subsequent High Relief double eagles possessed what became known as a “Flat Rim.”
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