1921 Saint-Gaudens Double Eagle. AU-53 (PCGS). This is one of the nicest, and also most interesting, About Uncirculated examples of this legendary 20th century gold rarity that we have ever offered. A Choice AU coin in terms of wear (or lack thereof, we should write), we note only a touch of high point rub to surfaces that retain nearly full mint luster. The texture is satin to softly frosted, and most of the few marks are small, well scattered, and singularly inconspicuous to the unaided eye. There are, however, two light obverse scratches that warrant attention. One arcs through the upper right field, the other joins it below the letter T in LIBERTY and extends down through Libertys left arm, the base of the branch and into the rays of the sun at right. The presence of these scratches, combined with this coins otherwise solid Choice AU qualities, confirm the AU-53 designation as a net grade from PCGS. The in hand appearance is generally smooth, nonetheless, the eye appeal is strong, and the rarity of this issue assures that the line of interested bidders for this offering will be long and distinguished.<p>The 1921 was produced to the extent of 528,500 pieces, a respectable total for a circulation strike double eagle from the early to mid Saint-Gaudens series. As with so many issues of this type, however, it is not the number of coins struck that determines rarity in todays market, but rather the manner in which the coins were distributed after striking. Many double eagles produced during the 1920s were exported in quantity, predominantly to Europe where the post-World War One economy was starved for gold bullion. The issues most widely represented in this export trade were the 1920, 1922, 1922-S, 1923, 1923-D, 1924, 1925, 1926, 1927 and 1928. Tightly held by European financial institutions for decades, these coins were eventually repatriated beginning in the later decades of the 20th century, accounting for most of the examples in todays market. On the other hand, the 1920-S, 1921, mintmarked issues from 1924 to 1931, and Philadelphia Mint issues from 1929 to 1932 were largely retained in federal vaults, primarily as backing for Gold Certificates. Limited quantities of these issues were exported or otherwise released from storage before the government stopped paying out gold coins at face value in April 1933.<p>Beginning in 1934, the government began to call in gold coins from the public, excluding those of recognized numismatic value. These recalled pieces were destroyed through melting in 1937, along with the millions of undistributed double eagles and other gold coins that had never left government storage. With only 150 or so coins extant in all grades, virtually the entire mintage for the 1921 double eagle met this fate. This intriguing AU example, a prized survivor of a rare key date Saint-Gaudens issue, is sure to have no difficulty finding its way into an advanced cabinet of double eagles or 20th century U.S. gold coinage. PCGS# 9172. NGC ID: 26G2.<p><strong>To view all items from the Augustana Collection, click <a href="https://auctions.stacksbowers.com/lots?sort=auction_date_lot_number_asc&search=the+Augustana+Collection&limit=36&lots_range=upcoming"> here.</a></strong> From the Augustana Collection.
