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1927-S Saint Gaudens Gold Double Eagle NGC MS64

2023-10-04 17:43:00
1927-S Saint Gaudens Gold Double Eagle NGC MS64

1927-S Saint Gaudens Gold Double Eagle NGC MS64

Jack McNamara's Live Auction Featured Coin

Thursday, October 5th, 2023

 

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  • Mintage: 3,107,000
  • NGC Population: 14/11
  • PCGS Population: 10/11
  • CU Price Guide: $150,000
  • Finest Known: MS67 (3) – One last traded in 2020, for approx. $265,000
  • Since then, a MS66 sold earlier this year for approx. $325,000 & a MS65 for approx. $250,000.
  • Today, one of the three finest known examples in MS67 condition is expected to cost closer to $500,000.
  • In 2022, there were at least two known sales for a MS64 1927-S $20 trading for the current asking price of $114,000.
  • With a relatively high mintage and respective population in higher grades, at first glance many may overlook the 1927-S in the Saint Gaudens series, but not the advanced collector.
  • Those who collect and have detailed knowledge of the Saint Gaudens series understand that the 1927-S $20 is SCARCE IN ALL GRADES and one of the rarest dates in the series in MS64 and finer.
  • Although population records suggest there are roughly two dozen in MS64 condition and nearly another two dozen finer, the reality is that the true number is likely far lower.
  • Prior to recent sales over the last year or two, in MS64 condition a 1927-S $20 had not been seen on the open market for more than half a decade. The same can be said for higher grades.
  • Other than the PCGS MS66 example recently selling in 2023, for approx. $325,000 another PCGS specimen had not sold since 2010.
  • History indicates its more likely that collectors come across a 1927-S $20 in MS64 every 3-5 years instead of every 1-2 years.
  • In fact, virtually every post-WWII San Francisco double eagle is considered scarce, especially in Gem (MS65) condition!
  • The table of NGC & PCGS Census Data below helps illustrate the sheer difficulty of acquiring S-Mint $20s in higher grades:

  • The only dates with a smaller surviving population in all grades than the 1927-S $20 are the 1920-S $20 & 1930-S $20.
    • CU Price Guide in MS64 for the 1920-S $20 & 1930-S $20 are $225,000 & $300,000 respectively
    • Similar to the 1927-S $20 there are two dozen MS64 specimens for the 1930-S and actually more certified in higher grades than the 1927-S $20!
  • This speaks to the grave importance of not only conditional rarity but also absolute rarity, which can be said about nearly every later date S-Mint Saint.
  • When it comes to the Saint Gaudens series as a whole, the 1927-S $20 sits in between the 1929-P & 1932-P in regards to rarity in MS64 condition.
  • Here is how they compare:
    • 1927-S $20 MS64
      • Mintage: 3,107,000
      • NGC Population: 14/11
      • PCGS Population: 10/11
      • CU Price Guide: $150,000
    • 1929-P $20 MS64
      • Mintage: 1,779,750
      • NGC Population: 98/36
      • PCGS Population: 61/6
      • CU Price Guide: $90,000
    • 1932-P $20 MS64
      • Mintage: 1,101,750 (about 100 known)
      • NGC Population: 21/24
      • PCGS Population: 34/42
      • CU Price Guide: $175,000
  • Four 1929-P $20s in MS64 have traded in the last two years for an average price of $70,500
  • Two 1932-P $20s in MS64 have traded in the last two years for an average price of $138,000