The 1927-D Saint-Gaudens Double Eagle has once again become the centerpiece of the numismatic world. In August 2022, a specimen graded MS66 by the Professional Coin Grading Service (PCGS) sold for an impressive $4.44 million at a Heritage Auctions event, reaffirming the coin’s highly coveted status among collectors and investors alike.
Historical Significance and Rarity
Minted in 1927 at the Denver Mint, the 1927-D Double Eagle had an initial mintage of 180,000 coins. However, the vast majority of these coins were melted down following the 1933 gold recall, significantly reducing the number of surviving specimens. It is estimated that only around 14 to 15 examples of the 1927-D remain today, and most of these are in Mint State condition, making the coin exceedingly rare and highly sought after.
Design and Specifications
The 1927-D Double Eagle is famous for its stunning design by sculptor Augustus Saint-Gaudens. The coin features:
- Obverse: A full-length figure of Liberty holding an olive branch and a torch, with the U.S. Capitol building in the background.
- Reverse: A soaring eagle flying above the rising sun, symbolizing America’s progress and power.
The coin’s specifications include:
- Denomination: $20 (Double Eagle)
- Composition: 90% gold, 10% copper
- Weight: 33.436 grams
- Diameter: 34 millimeters
- Edge: Lettered with “E PLURIBUS UNUM”
Auction Performance and Record-Breaking Sales
The 1927-D Double Eagle has garnered significant attention in the auction world, consistently fetching remarkable prices:
- April 2022: An MS66 example of the coin was sold for $4.4 million.
- August 2022: Another MS66 specimen realized $4.44 million, reinforcing its reputation as one of the most valuable coins in the U.S. minting history.
These record-setting sales reflect the immense demand and desirability for this rare coin.
Key Factors Driving Its Value
Several factors contribute to the 1927-D Double Eagle’s impressive market value:
- Extreme Rarity: With fewer than 20 known examples, this coin is one of the rarest U.S. gold coins of the 20th century.
- Historical Importance: Minted just before the Great Depression and part of the series affected by the gold recall, the 1927-D Double Eagle is a piece of U.S. monetary history.
- Exquisite Artistry: Designed by the renowned Augustus Saint-Gaudens, the coin’s aesthetic beauty adds to its numismatic appeal.
Authentication and Counterfeiting Concerns
Due to its significant value, the 1927-D Double Eagle is often targeted by counterfeiters. Commonly, fraudulent copies involve altering a 1927 Philadelphia-minted coin by adding a fake “D” mintmark. To avoid purchasing a counterfeit, collectors are advised to have their coins authenticated by trusted grading services like PCGS or the Numismatic Guaranty Corporation (NGC).
Conclusion
The 1927-D Saint-Gaudens Double Eagle is a true masterpiece in both artistic and historical terms. Its record-breaking performance at auction, with prices surpassing $4 million, underscores its status as a highly coveted treasure among both numismatists and investors.
Frequently Asked Questions (FAQs)
Why is the 1927-D Double Eagle so rare?
The majority of the 180,000 coins originally minted were melted down after the 1933 gold recall, leaving only a few surviving examples.
Who designed the 1927-D Double Eagle?
Augustus Saint-Gaudens, a renowned American sculptor, designed this iconic coin.
What is the significance of the “D” mintmark?
The “D” indicates that the coin was minted at the Denver Mint.
How can I verify the authenticity of a 1927-D Double Eagle?
It’s important to have the coin authenticated by trusted grading services such as PCGS or NGC to ensure its legitimacy.
What factors influence the value of the 1927-D Double Eagle?
The coin’s value is influenced by its extreme rarity, historical importance, condition, and provenance.
