1929 $20 MS (PCGS# 9190)

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
1929 $20 MS64 PCGS. Two major disruptions in global trade affected production of the American double eagle, which was struck more for international consumption than domestic use during much of its 20th century run. The first and more famous disruption, World War I, led to a multiyear hiatus in the denomination. The second disruption was the onset of the Great Depression. Garrett and Guth (2006) discuss the 1929 double eagle in this context: {blockquote}"As seen on earlier mintmarked issues, the 1929 double eagle was summarily rounded up and melted down in the 1930s. Few examples of this issue had left the country at this time, as the world economies sunk into a deepening depression, which started in mid-1929 with contracting trade and was loudly announced by the American stock market crash on October 29, 1929."{/blockquote} By combined certified populations, the 1929 is on roughly the same tier of rarity as mintmarked issues such as the 1927-S and 1926-D, a gateway issue that marks the transition to the even rarer end-dates such as 1930-S and 1931. Garrett and Guth note, "Beginning with the 1929 double eagle and continuing through the 1933 issue, any collector who undertakes obtaining these issues does so with extreme care and financial fortitude." This charming Choice Mint State coin offers excellent quality and eye appeal for its grade. Both sides are well struck save for Liberty's torch hand, and the yellow-orange luster on each side is strong and pleasing. Minimally marked, with an appearance that comes tantalizingly close to Gem standards. PCGS has graded 30 numerically finer pieces (11/11).
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