Saint-Gaudens Double Eagles 1927-S $20 MS64 PCGS. The San

Saint-Gaudens Double Eagles
1927-S $20 MS64 PCGS. The San Francisco Mint struck a substantial mintage of more than 3.1 million Saint-Gaudens double eagles in 1927, but the 1927-S is an elusive key to the popular series today. The coins were delivered in 139 separate batches from January 5 through October 31, but few were ever shipped to banks or Federal Reserve Banks for distribution. After Assay Commision proceedings, Mint cashiers retained about 169 examples, which may have been paid out in everyday transactions. A relatively small number of coins was apparently used to settle accounts in foreign trade, but the great bulk of the mintage was held in government storage until the Gold Recall of 1933 took effect. Afterward, the coins in government custody were melted and stored as gold bars at the Fort Knox Bullion Depository. Roger W. Burdette estimates the surviving population at just 300 examples in all grades today.
When collecting large denomination gold coins first became popular in the 1940s, the 1927-S was believed to be even more elusive than it is today. At that time, numismatists considered it the fourth-rarest Saint-Gaudens double eagle, behind the 1924-D, 1926-S, and the 1926-D. Prominent coin dealer B. Max Mehl thought only three or four examples of these issues were extant after the massive meltings of the 1930s, but rarity rankings changed rapidly in later years. As noted above, some 1927-S double eagles were used in foreign trade during this time frame, putting them safely out of reach of the government recall. Small numbers of 1927-S double eagles remained safely ensconced in foreign holdings for decades. When international trade resumed after World War II, coin dealers found many exported Saint-Gaudens double eagles had survived in European and Latin American banks. Enterprising dealers with good European connections, like Paul Wittlin and Jim Kelly, began repatriating those coins in a big way in the 1950s, significantly increasing the supply of some formerly elusive issues, like the 1924-D, 1926-S, and 1926-D. However, only a relatively small number of 1927-S double eagles ever surfaced in foreign holdings, and it is still acknowledged as a major rarity today. The issue is especially elusive in grades above the MS64 level.
The present coin is an impressive Choice example, with sharply detailed design elements throughout. Liberty's facial features are sharply rendered and the columns in the Capitol are easily distinguished. The pleasing orange-gold surfaces are well-preserved and show only scattered, minor signs of contact. Vibrant mint luster radiates from both sides, adding to the outstanding eye appeal. This coin should find a home in a fine collection of Saint-Gaudens double eagles. Population: 10 in 64, 11 finer (11/23).

https://coins.ha.com/itm/saint-gaudens-double-eagles/1927-s-20-ms64-pcgs/a/1367-3164.s?type=DA-DMC-CoinArchives-USCoins-1367-12142023

HID02906262019

© 2023 Heritage Auctions | All Rights Reserved