The Saint-Gaudens Double Eagle, designed by Augustus Saint-Gaudens, is widely regarded as one of the most beautiful coins ever produced by the United States Mint. Among the various dates in this series, the 1931 Saint-Gaudens Double Eagle holds a unique place in numismatic history due to its low mintage, historical significance, and connection to the Great Depression. For collectors and history enthusiasts alike, this coin offers a fascinating glimpse into a turbulent era of American monetary policy.
Historical Context
The 1931 Saint-Gaudens Double Eagle was minted at a time when the United States was grappling with the Great Depression. As the economic crisis deepened, demand for gold coins plummeted. Gold, which was traditionally used in daily transactions, became less practical for general use as paper money gained prominence. In response to the economic challenges, the U.S. government curtailed the production of gold coins.
President Franklin D. Roosevelt’s 1933 Executive Order 6102, which prohibited private gold ownership, effectively ended the circulation of gold coins. As a result, many Double Eagles minted during the early 1930s were melted down into gold bars, leaving only a few surviving examples for collectors to discover decades later.
Mintage and Survival
The 1931 Saint-Gaudens Double Eagle was struck at the Philadelphia Mint, with an official mintage of just 2,938 coins. While this figure is exceptionally low, it’s important to note that not all of these coins were released into circulation. A large portion of the mintage was likely melted down following the gold recall of 1933.
Today, only a small number of 1931 Double Eagles are known to exist, making it one of the rarer dates in the series. Most surviving examples are in uncirculated condition, often graded by professional services such as PCGS or NGC. High-grade specimens command significant premiums due to their scarcity and historical importance.
Design Details
The obverse of the coin showcases Augustus Saint-Gaudens’ iconic depiction of Liberty, who strides forward confidently, holding a torch in one hand and an olive branch in the other. Radiating lines of sunlight provide a stunning backdrop, symbolizing hope and progress. The word “LIBERTY” arches above Liberty’s figure, while the year “1931” is displayed near the bottom.
The reverse features a majestic eagle in flight, with the sun rising below it. The inscriptions “UNITED STATES OF AMERICA” and “TWENTY DOLLARS” surround the design. The absence of the motto “IN GOD WE TRUST” on earlier issues of the Saint-Gaudens Double Eagle was controversial but later corrected in 1908.
Value and Collectibility
The 1931 Saint-Gaudens Double Eagle is highly prized among collectors for its rarity and connection to a pivotal moment in American history. In circulated grades, these coins are virtually non-existent due to their lack of general release. Uncirculated examples, particularly those in higher grades such as MS-65 or better, can sell for hundreds of thousands of dollars at auction.
In addition to its rarity, the coin’s historical significance adds to its allure. The 1931 Double Eagle represents the end of an era when gold coins played a central role in everyday commerce.
Conclusion
The 1931 Saint-Gaudens Double Eagle is more than just a coin—it’s a tangible piece of history. With its stunning design, low mintage, and connection to the economic challenges of the Great Depression, it holds a special place in the hearts of numismatists. For collectors seeking a rare and historically significant addition to their collection, the 1931 Double Eagle is a treasure worth pursuing.
FAQs
Why is the 1931 Saint-Gaudens Double Eagle so rare?
Its low mintage and the melting of many coins following the 1933 gold recall make it one of the rarest dates in the series.
How much is a 1931 Saint-Gaudens Double Eagle worth?
Depending on its condition, this coin can fetch hundreds of thousands of dollars at auction, with higher grades commanding even greater premiums.
What makes the Saint-Gaudens Double Eagle design special?
The design by Augustus Saint-Gaudens is celebrated for its artistic beauty, featuring Liberty and a soaring eagle, symbolizing hope and progress.