Lot 4049
1907 $20 St. Gaudens. Flat relief. PCGS graded MS-64. Nice frosty coin. Rich warm golden color. A well struck example that has gleaming fields. The reduced relief introduced after the Roman numerals coins were rejected, allow for faster production on the mints regular, electrically operated coining presses. The $20 gold piece, like this coin's rich color, had a rich history as backing for the currency, and a foundation for lending by industry and the American government. The experiment of a full Gold Standard lasted only from 1900 until 1933, sadly, when the results of inflation of the money substitutes (loans, paper currency, and the rest) caused a "run on gold" that culminated in April 1933 in a worldwide monetary panic. Curiously enough, the year 1907, which saw the debut of this lovely $20 gold piece, also witness what has been called the Bankers Panic of 1907 (PCGS # 9141) .
Estimated Value $1,300 - 1,400.
Ex: Stack's June 1980 Auction Lot 733.
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| Realized $2,128 |
