For the numismatist assembling a set of Saint-Gaudens double
eagles, the later issues present a formidable challenge, even when the 1933
double eagle is excluded. Most were struck at the mints, then immediately set
aside in Treasury vaults where they sat until the early 1930s when they were
sent right back to the Mint for melting down into ingots. The 1927-S $20 is
typical of these late issues and examples are very scarce in today’s market. The
mintage of 3,107,000 pieces would ordinarily suggest a very common coin, but of
these three million, only 3,750 were actually delivered to the Federal Reserve
or to large commercial banks. A little more than 3,000 were retained for assay
purposes, and the balance of about 3.1 million coins was immediately sent into
storage then destroyed without having seen the light of day.
The rarity of the 1927-S was suspected as early as the 1940s,
when large quantities of double eagles started returning to the United States
after World War II, making formerly rare issues more widely available. However,
the 1927-S did not surface in any appreciable numbers and certainly not enough
to alter its status as a rarer issue. It is estimated that fewer than 300
examples remain in all grades.
We are pleased to offer an outstanding 1927-S $20 graded
MS-62 (PCGS) CAC in our August 2021 Auction. It is an exceptional survivor with
beautiful sandy-gold patina across both sides. The surfaces are very nice for
the grade level, with only minimal friction and very strong luster in the
fields. It is one of just 18 Mint State examples with CAC approval across both
services, and only eight of those are listed higher than this piece. A superior
combination of eye appeal, surface quality and utmost rarity.
This beautiful MS-62 (PCGS) CAC double eagle will be offered
in our Official Auction for the ANA World's Fair of Money this August. It will accompany
a vast selection of world-class rarities including the finest known 1804
dollar, an original 1827/3 quarter, a Mint State 1796 Stars quarter eagle, and
many other treasures. For more information on our August auction, please
contact Stack's Bowers Galleries by telephone at 800-566-2580 or by email at [email protected].