The Saint-Gaudens Double Eagle, designed by Augustus Saint-Gaudens, is widely regarded as one of the most beautiful coins ever minted by the United States. First issued in 1907, this $20 gold piece is a hallmark of American coinage artistry. Among the various years of its production, the 1923 Saint-Gaudens Double Eagle stands out as a popular choice for collectors due to its relative availability, historical significance, and connection to the roaring 1920s.
Historical Background
The Saint-Gaudens Double Eagle came into being as part of President Theodore Roosevelt’s initiative to elevate U.S. coin design. Augustus Saint-Gaudens, a renowned sculptor, was commissioned to create the design. The obverse depicts a full-length figure of Liberty holding a torch and olive branch, symbolizing enlightenment and peace. The reverse features a soaring eagle above the rising sun, epitomizing freedom and hope.
The 1923 Saint-Gaudens Double Eagle was minted during a period of economic growth and optimism in the United States. This optimism was reflected in the coin’s elegant design and widespread use in commerce and as a store of wealth. The coin was struck at two mints: Philadelphia (no mint mark) and Denver (marked “D”).
Mintage and Availability
The 1923 Saint-Gaudens Double Eagle had a relatively high mintage:
- Philadelphia Mint: 566,000 coins
- Denver Mint: 1,725,500 coins
Despite the large mintage, many 1923 Double Eagles were melted down during the 1930s as a result of the Gold Reserve Act of 1934, which required citizens to exchange their gold coins for paper currency. Fortunately, a significant number of 1923 Double Eagles survived, making this issue more accessible than other years.
Collectibility and Value
The 1923 Saint-Gaudens Double Eagle is considered one of the more affordable and available coins in the series, making it a popular choice for collectors. Its value depends largely on its condition and mint mark.
- Uncirculated Examples: Coins in uncirculated condition, graded MS60 to MS63, typically sell for $2,000 to $3,000.
- Higher Grades: MS65 coins can fetch $4,000 to $6,000 or more, while MS66 or MS67 examples are rare and command significantly higher prices.
- Denver Mint Coins: 1923-D coins are generally more common than Philadelphia-minted coins, but exceptionally high-grade examples of either issue are highly sought after.
When purchasing a 1923 Double Eagle, it’s essential to buy from reputable dealers or auction houses and consider professionally graded coins to ensure authenticity and accurate condition assessment.
Tips for Collectors
- Authentication is Key: Counterfeits exist, so always buy from trusted sources or seek third-party grading.
- Focus on Eye Appeal: Even within the same grade, coins with better luster and fewer surface marks will command higher premiums.
- Consider Long-Term Value: The 1923 Double Eagle is a solid investment piece due to its historical significance, gold content, and enduring popularity.
Conclusion
The 1923 Saint-Gaudens Double Eagle offers collectors a chance to own a piece of American history and artistry. Its stunning design, accessibility, and strong connection to an iconic era in U.S. history make it a cornerstone of many numismatic collections. Whether you’re drawn to its investment potential, historical significance, or aesthetic appeal, the 1923 Double Eagle remains a timeless and valuable addition to any collection.
FAQs
What is the value of a 1923 Saint-Gaudens Double Eagle?
The value varies based on condition. Uncirculated coins typically sell for $2,000 to $3,000, while higher-grade examples can exceed $6,000.
Where were the 1923 Saint-Gaudens Double Eagles minted?
The 1923 Double Eagles were minted at the Philadelphia (no mint mark) and Denver (“D”) Mints.
What should collectors look for when buying a 1923 Saint-Gaudens Double Eagle?
Collectors should focus on the coin’s grade, eye appeal, and ensure it is authenticated by a reputable grading service to avoid counterfeits.