The 1927-D Saint-Gaudens Double Eagle, one of the rarest U.S. gold coins, has repeatedly set records at auctions due to its rarity, historical significance, and unique appeal to collectors.
Recently, this gold $20 coin from the Bob R. Simpson Collection fetched an incredible $4.44 million at a Heritage Auction, shattering its prior record of $2.16 million in 2020.
Known for its remarkable design and fascinating backstory, the 1927-D Double Eagle continues to draw top bids from numismatists worldwide.
History and Design
Originally minted in 1927, the Saint-Gaudens Double Eagle series was designed by acclaimed sculptor Augustus Saint-Gaudens at the request of President Theodore Roosevelt, who wanted U.S. coins to reflect the nationās grandeur.
The obverse features Lady Liberty confidently striding forward with a torch, while the reverse displays a soaring eagle. This design is widely regarded as one of the most beautiful U.S. coin designs ever created.
The 1927-D Double Eagle, minted in Denver, had an original mintage of 180,000 pieces. However, due to a recall of gold coins during the 1930s to prevent gold hoarding, nearly all Double Eagles minted during that time were melted down.
As a result, only around 15 to 20 of these coins are believed to have survived, making it one of the rarest dates in the Saint-Gaudens series. This rarity, coupled with the coin’s aesthetic appeal, has significantly contributed to its value.
Auction Performance and Value
Over the years, the 1927-D Double Eagle has consistently broken auction records. Its recent sale at $4.44 million in August 2022 highlights the coin’s sustained demand and appreciation among collectors.
This coin, graded MS66 by Professional Coin Grading Service (PCGS), is among the highest-graded examples, which further enhances its value.
Hereās a breakdown of notable auction prices for the 1927-D Double Eagle:
Date | Auction House | Grade | Price Realized |
---|---|---|---|
January 2020 | Heritage Auctions | MS65+ | $2.16 million |
August 2021 | Heritage Auctions | MS66 | $3.09 million |
August 2022 | Heritage Auctions | MS66 | $4.44 million |
Why Is the 1927-D Double Eagle So Valuable?
The value of the 1927-D Saint-Gaudens Double Eagle is largely driven by three key factors:
- Rarity: With only a handful surviving from the initial 180,000 minted, the 1927-D is exceptionally rare, making it a highly prized coin in any collector’s portfolio.
- Condition: Most of the remaining examples of this coin are in excellent condition, graded in the Mint State (MS) range by professional services. Coins with high grades like MS66 are especially valued for their near-perfect preservation.
- Historical Appeal: As one of the last gold coins issued before the U.S. governmentās recall and melting of gold coins in the 1930s, this coin represents a significant period in U.S. economic history.
FAQs
Most of the 1927-D Double Eagles were melted down during the 1930s, leaving only a small number of survivors from the original mintage. This rarity boosts its value.
The āDā indicates that the coin was minted in Denver, distinguishing it from other Saint-Gaudens Double Eagles produced at different mints.
Higher grades, such as MS65 or MS66, indicate the coin’s excellent condition and directly influence its auction value, with higher grades fetching significantly more.
A combination of its rarity, historical significance, and high condition grade contribute to the coin’s impressive auction values.
Yes, other rare Saint-Gaudens Double Eagles, particularly those from limited mints or unique historical contexts, can also command high prices at auction.