A fully original near-gem example of the rare and coveted 1929 Saint-Gaudens double eagle will be featured in the Stack’s Bowers Galleries Official Auction of the Whitman Coin & Collectibles Winter Expo. 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 in 1929, most sat in Treasury vaults; the small quantities that were released mostly went 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.
Any offering of this date is a treat, but the example in our November sale has an interesting provenance as well. This coin was purchased out of a Paramount Numismatic Services sale in July 1986 and has not been seen in the numismatic marketplace since. PCGS has graded it MS-64, and we have had more that one expert numismatist at our company call this coin a shot 5. It possesses the eye appeal of a true Gem, with amazing originality, extraordinary luster and a notable lack of bagmarks. The reverse is especially high-end for the assigned grade with the entirety of the coin boasting fully struck surfaces. We expect very competitive bidding when this monster reaches the auction block for the first time in over 37 years.
For more information about the Stack’s Bowers Galleries November 2023 auction visit StacksBowers.com. To consign your coins or paper money to one of our Showcase auctions or to our Collectors Choice Online auctions call 800-458-4646 or email Consign@StacksBowers.com.
