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The Certified 1920 $20 Saint-Gaudens Gold Double Eagle graded MS63 by PCGS represents a superb and historically significant example of one of America’s most iconic coin designs. First introduced in 1907, the Saint-Gaudens Double Eagle was designed by the renowned sculptor Augustus Saint-Gaudens at the request of President Theodore Roosevelt, who sought to beautify American coinage. The coin is often hailed as the most beautiful U.S. coin ever struck, and the 1920 issue holds particular importance within the series due to its relative scarcity and place in the post-World War I economy. A PCGS MS63 specimen offers collectors a certified, high-quality example of a numismatically important year.
The history surrounding the 1920 Saint-Gaudens Double Eagle is marked by shifting U.S. monetary policies and global financial instability in the aftermath of World War I. After several years of reduced gold coin production during the war, the Philadelphia Mint resumed regular striking of Double Eagles in 1920. However, most of the coins minted during that period, particularly from 1920 through 1929, were not released for general circulation and instead were stored in Treasury vaults or shipped overseas to facilitate international gold payments. The vast majority of these coins were eventually melted down following the Gold Recall of 1933 and the subsequent abandonment of the gold standard, making surviving specimens like the 1920 notably scarce in all grades.
The obverse of the coin features a full-length depiction of Liberty, confidently striding forward with a torch in her right hand and an olive branch in her left, symbolizing enlightenment and peace. The rays of the rising sun burst from behind her figure, and the U.S. Capitol building appears in the background. The word “LIBERTY” arches across the top of the design, with 46 stars surrounding the rim to represent the number of states in the Union at the time of the coin’s debut. The date “1920” is boldly inscribed to the right of Liberty’s flowing gown. This powerful image remains one of the most admired in American numismatics and is sharply struck on MS63 examples, with minimal softness in the finer details.
The reverse design features a majestic eagle in flight, wings outstretched above a radiant sun on the horizon. The inscriptions “UNITED STATES OF AMERICA” and “TWENTY DOLLARS” are boldly rendered in an arc across the upper field, while the motto “IN GOD WE TRUST” appears just above the sun’s rays. Notably, this motto was not part of the original Saint-Gaudens design but was added in 1908 following public outcry over its initial omission. The strength and balance of the reverse composition reflect Saint-Gaudens’ mastery of neoclassical form and national symbolism. In MS63 condition, the eagle’s feathers, sun rays, and fields retain strong definition and considerable luster.
The 1920 Double Eagle was struck exclusively at the Philadelphia Mint, and as such, bears no mintmark. The total mintage was 228,250 coins, a moderate figure by Double Eagle standards. However, most were not released into circulation and were eventually melted following the Gold Reserve Act of 1934. As a result, only a small fraction of the original mintage survives today, and Mint State examples are genuinely rare. The surviving population of certified MS63 coins is limited, with relatively few high-grade specimens entering the numismatic market each year. This low survival rate makes the 1920 issue one of the scarcer dates among the non-mintmarked Saint-Gaudens Double Eagles.
The 1920 Saint-Gaudens Double Eagle is composed of 90% gold and 10% copper, giving it a net weight of 0.9675 troy ounces of gold. The coin measures 34 mm in diameter and weighs 33.436 grams. The addition of copper to the alloy enhances the coin’s durability, allowing it to better resist wear and handling. Despite their intent for circulation, most 1920 Double Eagles were never used as currency. As a result, examples that survive in Mint State, such as those graded MS63 by PCGS, tend to exhibit strong luster and sharp details, although they may show minor bag marks or surface abrasions consistent with the grade.
In MS63 condition, the 1920 Double Eagle is considered a high-grade coin with excellent eye appeal. While it does not reach the pristine surfaces of MS65 or MS66 coins, it retains full design detail and mint luster. PCGS, one of the most trusted grading services in the numismatic field, applies rigorous standards to the MS63 designation, ensuring that such coins exhibit no wear, only moderate contact marks, and no significant distractions. For collectors seeking a balance between quality and value, MS63 offers a premium example of this scarce issue without the steep price tags of gem-quality specimens.
In terms of market value, the 1920 Saint-Gaudens Double Eagle commands a notable premium over common-date issues such as the 1924 or 1927. As of recent market data, PCGS-certified MS63 examples typically range in value from $7,000 to $12,000, depending on eye appeal, strike quality, and demand at auction. Prices may fluctuate based on gold market volatility and collector interest, but the 1920 issue’s scarcity ensures consistent demand. When offered at major auctions or by specialized dealers, well-struck and attractive MS63 examples often draw competitive bidding.
The Certified 1920 $20 Saint-Gaudens Gold Double Eagle in MS63 condition also holds intrinsic investment value due to its high gold content and numismatic premium. Its historical significance, limited availability, and renowned design make it a standout asset in both precious metal and rare coin portfolios. Furthermore, its PCGS certification adds an additional layer of security and liquidity, as collectors and investors trust the consistency and accuracy of the grading process. Collectors value the PCGS holder not only for authentication and protection but also for the confidence it provides in provenance and marketability.
In conclusion, the 1920 $20 Saint-Gaudens Double Eagle graded MS63 by PCGS is an exceptional coin that combines artistry, rarity, and historical depth. It reflects the post-WWI financial climate, the twilight of gold coin circulation in the U.S., and the enduring influence of Augustus Saint-Gaudens’ vision. With its sharp strike, brilliant luster, and certified status, this coin holds appeal for collectors of classic U.S. gold coinage, advanced numismatists, and long-term investors alike. As surviving examples remain limited and demand for key-date Saint-Gaudens issues grows, the 1920 MS63 continues to represent both beauty and opportunity in the numismatic world.