Lot 1996
1922-S $20 St. Gaudens. PCGS graded MS-63 PQ. A frosty coin. Both sides put on view the distinctive "look" for this S-mint delivery: smoothly frosted surfaces, rolling cartwheel effects, and boldly struck devices. There is nothing hesitant about this Choice MS63. In modern times many 1922-S double eagles have appeared on the auction scene, in sharp contrast to the vaunted rarity of the variety in early times. Most are in Mint State 60 to 63 and anything finer remains a rarity. While somewhat over 1,000 examples are estimated to exist, the numismatic supply is very small, considering the great demand for Saint-Gaudens double eagles and also the fact that many have disappeared into the woodwork – into the hands of investors for the most part who are not an active part of the coin collecting fraternity. It seems likely that most of the 1922-S coins were retained in the United States and melted in 1937. However, thousands were exported. This was an ideal situation for the numismatists, as foreign banks held in reserve many coins that would have been destroyed had they remained in America (PCGS # 9174) .
Historical association: Radio was the new big thing in America of the early 1920s. Led by Westinghouse company's 1920 and 1921, establishment of four well-financed stations -- located in or near Pittsburgh, Boston, Chicago and New York City -- there was a growing sense of excitement as broadcasting activities became more organized. In December, 1921, the Department of Commerce issued regulations formally establishing a broadcast service. Then, in early 1922, the year of this double eagle, a "broadcasting boom" occurred, as a sometimes chaotic mix of stations, sponsored by a wide range of businesses, organizations and individuals, sprang up, numbering over 500 by year's end.
Estimated Value $4,000 - 4,250.
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| Realized $4,485 |
