The 1927-D Saint-Gaudens Double Eagle, a coin of extraordinary rarity, has once again captured the attention of collectors and investors alike. At a Heritage Auctions event in August 2022, a specimen graded MS66 by the Professional Coin Grading Service (PCGS) fetched an impressive $4.44 million, underscoring its status as one of the most coveted coins in numismatics.
Historical Significance and Rarity
Minted in 1927 at the Denver Mint, the 1927-D Double Eagle originally had a mintage of 180,000 coins. However, following the U.S. gold recall of 1933, most of these coins were melted down, leaving only a small number in existence. Today, only around 14 to 15 specimens are known to survive, with most of them in Mint State condition.
Design and Features
The 1927-D Double Eagle features the iconic design of renowned sculptor Augustus Saint-Gaudens:
- 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 majestic eagle soaring above a rising sun, symbolizing the nation’s progress.
Coin Specifications:
- Denomination: $20 (Double Eagle)
- Composition: 90% Gold, 10% Copper
- Weight: 33.436 grams
- Diameter: 34.00 millimeters
- Edge: Lettered with “E PLURIBUS UNUM”
Auction Performance and Record Sales
The 1927-D Double Eagle has consistently broken records at auctions:
- In April 2022, a specimen graded MS66 sold for $4.4 million.
- In August 2022, another MS66 example fetched $4.44 million at a Heritage Auctions event.
These exceptional auction results highlight the coin’s continuing allure and the strong demand among collectors.
Factors Behind Its High Value
Several factors contribute to the astronomical value of the 1927-D Double Eagle:
- Rarity: With fewer than 20 known specimens, it is one of the rarest U.S. gold coins of the 20th century.
- Historical Importance: The coin is tied to a significant moment in U.S. history—the gold recall of 1933—and serves as a tangible piece of this era.
- Artistic Merit: The design, crafted by Saint-Gaudens, is celebrated for its aesthetic beauty and numismatic appeal.
Authentication and Counterfeit Risks
Due to its high value, the 1927-D Double Eagle is often targeted by counterfeiters. Common fraudulent practices involve altering regular 1927 Philadelphia-minted coins to falsely add a “D” mintmark. To ensure authenticity, collectors should always seek certification from trusted grading services such as PCGS or the Numismatic Guaranty Corporation (NGC).
Conclusion
The 1927-D Saint-Gaudens Double Eagle remains one of the most prestigious and desirable coins in the world. Its combination of rarity, historical significance, and artistic design, along with its impressive auction results, solidify its place as a prime asset for collectors and investors.
Frequently Asked Questions
Why is the 1927-D Double Eagle so rare?
The coin’s rarity stems from the mass melting of the majority of the 180,000 coins minted following the 1933 gold recall, leaving only a small number of surviving specimens.
Who designed the 1927-D Double Eagle?
The coin was designed by Augustus Saint-Gaudens, one of the most renowned American sculptors.
What does the “D” mintmark signify?
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 reputable grading services, such as PCGS or NGC, to ensure its legitimacy.
What factors determine the value of the 1927-D Double Eagle?
The coin’s value is influenced by its rarity, historical significance, condition, and provenance.
