1929 Saint-Gaudens Double Eagle. MS-65 (PCGS).Offered is a simply outstanding Gem Mint State example of this scarce and conditionally challenging late date double eagle. This is yet another rarity that will attract a lot of interest and attention as it crosses the auction block. Displaying a bold blend of frosty mint luster and medium orange-gold patina, wisps of reddish-rose iridescence add to the significant eye appeal. Sharply struck throughout with exceptionally well preserved surfaces.<p>October 1929 saw the American stock market crash that set off a chain of events plunging the worlds 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 <em>events</em> or submissions. The number of coins that are actually different is less, often far less in the instance of particularly expensive coins. This is a rare opportunity to obtain a remarkable example that will certainly please the successful bidder.<p><p><p><p>
