1925 $20 MS (PCGS# 9180)

2012 January 4-8 US Coins & Platinum Night FUN Signature Auction- Orlando #1166

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    Heritage Auctions
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Lot Description
1925 $20 MS67 PCGS Secure. CAC. The 1925 Saint-Gaudens double eagle is, by any measure, one of the most available issues in the series in the higher Mint State grades of MS65 and MS66. Among the P-mint issues of the 1920s, only the 1924, 1927, and 1928 issues are more common, and in that order. The 1926 P-mint issue overall is slightly less common than the 1925, while the 1923-D likely falls between those two issues but is slightly more available at the Superb Gem or MS67 level. The 1925 Philadelphia double eagle had a mintage that was typical of the generous productions of many 1920s issues in the series, a quantity exceeding 2.8 million coins. As we offered in our reference on the Phillip H. Morse Collection: {blockquote}"This is the fifth highest production figure from the Philadelphia facility, behind the 1924, 1927, 1928, and, interestingly, the 1931. The abundance of the 1925-P, like several other 1920s Philadelphia issues, is also due to their long-term residence in foreign banks during the domestic melts of the 1930s."{/blockquote} Despite the issue's relative abundance in Mint State through MS66, at the Superb Gem level all bets are off. This piece is one of only five submissions graded MS67 PCGS, with none finer (10/11). In comparison, in MS67 PCGS has seen 61 submissions of the 1923-D; 79 of the 1924 (with one example in MS68); only three submissions of the 1926; 13 of the 1927; and 70 of the 1928, all including the occasional Plus coin. The PCGS data, even when one factors in the inevitable duplications, show that at MS67 the availability of the 1925 twenty dollar virtually dries up, and it suddenly becomes a remarkable condition rarity, far less available than several of its P-mint counterparts from the same decade. Serious fans of the Saint-Gaudens series know how rare the 1908-S issue is, but it may give the 1925 Philadelphia new respect to note at the MS67 level, the two coins show the same number of submissions at PCGS, as of the September 2011 Popu
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