St. Gaudens Double Eagle PCGS MS64. The 1924-D double
eagle is the first of a series of very scarce to extremely
rare Denver Mint double eagles. Unlike earlier issues,
most of this mintage probably remained in the United
States, making hoards of this issue unlikely. The mintage,
3,049,500 double eagles has not created this rarity
What did create the rarity of this, and many other
double eagles from this era were the mass melting of
gold coins in the 1930’s, shortly after the great
depression. President Roosevelt recalled all gold from
circulation, and many issues that had remained in storage
since their mintage were melted. Luckily for numismatists
today, some pieces were either paid out to collectors
or exported overseas, and examples are still available.
A few small hoards have turned up in Europe during the
last few years, making uncirculated coins somewhat more
available than before.
The majority of those exported coins however, show
many marks from handling. As a result, many issues are
scarce to rare at the near gem level, such as the present
piece. With the increasing demand for these gold coins,
prices have risen steadily over the last few years.
There are still some sleepers within the series, and
the 1924-D could be considered to be one of them. Prices
triple at least when one point higher, making premium
quality 64’s the grade of choice for collectors
putting together high grade sets.
An estimated 800 to 1,200 pieces exist in all grades,
with more than half in lower Mint State grades. At the
gem or finer level, less than a dozen pieces are known
to exist. Yet, prices are not as high as many other
issues of the series, creating a remarkable opportunity
for the specialist.
The present coin is a very bold and lustrous example
of that issue. An exceptional bold strike is noted on
both sides, with even the eagle’s tail feathers
being remarkably struck. This coin is of premium quality
as such, and combined with the original orange-yellow
gold makes for a wonderful coin of this rare double