October 1929 saw the American stock market crash that set off a chain of events plunging the world's economy into a severe depression. Production of gold coins continued but double eagles were no longer released into general circulation in any meaningful quantity. Even though the Philadelphia Mint struck 1,779,750 double eagles that year, most sat in Treasury vaults, while only small quantities were released, mostly sent overseas to European bank vaults where they would remain for years. Almost the entire mintage ended up melted down and cast into ingots that were shipped to the United States Bullion Depository at Fort Knox.

Beginning in the late 20th century, very small groups of 1929 $20 gold pieces were discovered — almost all in Mint State or very near it — and soon repatriated. While the 1928 double eagle is a common late-year Saint-Gaudens coin, not so the six issues that came after. Of these six, the 1929 is the most available, but this is a relative term indeed; PCGS estimates that at best just under 1,000 are extant in all grades, and of these maybe one-twentieth survive at the Gem level or above. As to certification numbers, it is important to note that these are events or submissions. The number of coins that are actually different is less, often far less in the instance of particularly expensive coins.

The example to the left was sold by Stack's Bowers Galleries in the Spring 2023 Showcase Auction, where it realized $93,000.