1932 $20 St Gaudens MS65 PCGS

 In addition to the fascinating historical aspects of its design and its lofty status within the U.S. gold series, the Saint-Gaudens double eagle presents a unique challenge for those who endeavor to assemble a set of what many believe to be America's most attractive coinage. The "late-date" Saints from 1929 through 1932 are especially challenging for collectors. The famous 1933 issue is unlawful to own, except for a single court-approved example in private hands, currently unavailable.

     Throughout the Saint-Gaudens twenty dollar series, numismatists have long learned to disregard mintages as an accurate measurement of rarity within the series. Despite a large mintage of more than 1.1 million pieces, the 1932 Saint-Gaudens double eagle is a distinct rarity in today's market. The coins were all delivered between January 6 and April 25, 1932. The great majority of the mintage was held in Mint or Treasury vaults to serve as currency reserves until the Gold Recall took effect the following year. The coins in government custody were melted into gold bars and shipped to the Fort Knox Bullion Repository. None were ever released to Federal Reserve Banks for circulation and only 175 examples were ever available to the general public, either through sale to collectors by the Treasury department, or in exchange in normal transactions with the Philadelphia Mint Cashier. Roger Burdette estimates the surviving population at about 95 examples in all grades today. To our knowledge, no 1932 double eagles have been found in foreign holdings and -- aside from some unusual happenstance -- no repatriated examples are expected to suddenly appear.

     The present coin is a spectacular Gem, with sharply defined design elements that show intricate detail on the Capitol building and throughout the eagle's feathers. Some tiny marks on Liberty's portrait and on the eagle's wings indicate brief bag storage and related Mint handling. The vivid orange-gold surfaces are otherwise well-preserved, with virtually no field abrasions save for a trio of short, faint grease lines near Liberty's distant hair curls beyond the torch. Vibrant mint luster enhances the outstanding eye appeal across satin-smooth surfaces. Among the late-date Saints, only the 1930-S is demonstrably rarer. PCGS Population: 32 in 65 (6 in 65+), 11 finer

PCGS Value $245,000