|Coins - Gold - US $20.00|
|Realisation Price||45,000.00 USD|
Goldberg Auctioneers / Pre Long Beach Auction - 16/02/2020 / U.S. Gold Coins - $20 Gold / Lot 1714
1920-S $20 St. Gaudens PCGS MS62 This is one of the rarest and most popular key date issues of the Saint-Gaudens double eagles. Only a modest number are believed to have survived the great and mass meltings of the FDR administration when gold was called in from circulation in March of 1933. With the unimaginable costs of the new social programs adopted by the Roosevelt administration (1933), the inflation needed to sneak these through the public required a "temporary" farewell to the golden anchor that reflects the true cost of such folly. Apparently most of the orignal mintage of 1920-S double eagles were tied up in Treasury vaults and never had a chance to circulate. Thankfully for collectors today, about a gross of these coins did escape, many in high grade but precious few when one considers how many were struck. Today only 100 to 150 examples estimated to have survived by PCGS Pop Report and this one is nice and frosty. The vast majority never entered circulation but instead were shipped off to Fort Knox to be re-cast into bars awaiting their next fate.