1931 $20 St. Gaudens. PCGS graded MS-64. A beautiful coin for the grade, this near gem boasts frosty luster and boldly struck devices. The surfaces show only microscopic bagmarks, and none of the usual problems that so often plague these large gold coins. Virtually the entire mintage was melted, and only a few remain. America's depression of the century was just really starting to dig in, jobs were scarce and savings were already gone. People simply couldn't afford luxuries, and setting aside a double eagle was not a choice many people could make. Hence, few went into circulation, and virtually all were later melted when gold was demonetized in 1933. This particular piece has two old copper spots which will serve to identify it for the future, one is located between two rays above the lowest left drapery fold of Liberty's dress, the other is below the eagle's breast on the reverse.
Breen stated that 18-20 survive, we feel its more like 50 to 75 today with the numbers reported by NGC and PCGS. Whatever the true number is, this is a very rare coin and one that is seldom offered in choice or gem grades. Another opportunity for the astute collector to purchase very near gem quality for a bargain price.
