1929 $20 MS (PCGS# 9190)


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    Heritage Auctions
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Lot Description
1929 $20 MS65 NGC. We are proud to offer this Gem 1929 double eagle--a survivor of what was the most tumultuous financial era of the 20th century. The Great Depression was actually a global phenomenon that affected all of the world's economies to some degree. As a result, fewer U.S. gold coins were exported--a common practice in previous years--and the vast majority of 1929-dated twenties remained in government coffers after being struck. When the mass melting of gold coinage took place in the 1930s, nearly the entire mintage of 1929 Saints was conveniently available for that purpose. Dave Bowers, in his Guidebook of Double Eagle Gold Coins (2004), suggests that between 1,250 and 1,750 examples of this rare date are extant in Mint State condition. However, the combined population of 1929 double eagles at NGC and PCGS--regardless of condition--equals only 314 coins as of (9/08). In the same reference, Bowers notes that "nearly 1,000 have been certified--and, of course, many coins have not been." Although he may have included examples certified by ANACS, ICG, and other certification companies, the number would still be less than 400 encapsulated pieces. And we must also consider the inevitability of inflated population data due to resubmissions. Research by Garrett and Guth (2006) indicates that a total of 68 examples of this issue crossed the auction block between 1991 and 2005. Perhaps that is the best indication of the real rarity of the 1929 double eagles. This apricot-gold example has everything one would expect to see on a Gem twenty: vibrant luster, a pleasing strike, and clean fields. An abrasion on Liberty's torso and a couple of similar marks affecting the rays in the left field are all that probably preclude a higher designation for the current coin. Census: 4 in 65, 1 finer (6/09). From The Bay State Collection, Part Two.
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