US Coins

Market Analysis: Expensive gold at ANA sales

The official American Numismatic Association auctions held the week after the World’s Fair of Money by Stack’s Bowers Galleries and Heritage Auctions were filled with some truly magnificent gold coins.

Few were more beautiful than a 1913 Saint-Gaudens $20 double eagle, graded Proof 66 by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker, that sold for $336,000 at Stack’s Bowers’ Aug. 17 Rarities Night sale. Despite a mintage of 99 Proof 1913 double eagles, only 58 were distributed.

The cataloger noted of the coin in the auction, “Particularly noteworthy by their absence are distracting or otherwise grade-limiting contact marks. Such features would readily reveal themselves as ‘shiny’ areas indicating breaks in the original texture. Subtle powder blue and reddish-rose highlights further enhance the appeal of this exquisite specimen.”

John W. Dannreuther’s recent book on Proof gold issues indicates that 35 to 45 examples remain, most grading Proof 65 and lower. PCGS has graded just five in this grade with none finer.

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