1914-S Saint-Gaudens Double Eagle : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The San Francisco Mint, having been the primary venue for striking $20 Double Eagle gold coins since its founding in 1854, continued to carry most of the load when it came to producing circulation-quality Saint-Gaudens Double Eagles from 1909 to about 1922 when the production focus started to shift eastward towards Philadelphia. San Francisco mintages for the 1909-S Saint-Gaudens Double Eagle (2,774,925), the 1910-S Saint-Gaudens Double Eagle (2,128,250), and the 1914-S Saint-Gaudens Double Eagle (1,498,000) were multiples higher than the emissions from the mints in Philadelphia and Denver. Still, none of the coins produced for these dates are considered rare in an absolute sense.

What the 1914-S Saint-Gaudens Double Eagle is noteworthy for is the satiny appearance of its abundant surviving stock of Gem-quality coins. In many ways, the 1914-S is a quintessential early date type coin. It’s a little more interesting than the common 1924 Saint-Gaudens Double Eagle, with its mintage of 4.3 million coins, or the 1928, with its gargantuan 8.8 million. Of course, in a post-1933 world, these mintages often fail to convey the true scarcity of the issue.

That’s not the case with the 1914-S, which saw massive stockpiles of uncirculated coins come into the market in the 1970s and ’80s, mostly repatriated from overseas stocks.

How Much Is the 1914-S Saint-Gaudens Double Eagle Worth?

Except for coins graded MS66 or better, the 1914-S Saint-Gaudens Double Eagle carries little numismatic premium over its bullion value. A survey of April-May 2024 eBay results for certified examples tells the tale: PCGS MS64 – $2,638 (May 10), PCGS MS63 – $2,793.44 (May 9), NGC MS63 – $2,477 (May 4), PCGS MS62 – $2,428 (April 28), and PCGS MS64 – $2,638 (April 24). On April 17, 2024, a PCGS MS65 example was purchased with a Buy It Now price of $3,450. Recent prices realized for coins in that grade at GreatCollections, Heritage Auctions, and Stack’s Bowers generally fall between $2,880 and $3,500.

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Market Data and Noteworthy Specimens

The top population coin is an NGC MS67, which has held that title since at least 2008. The PCGS MS66+ coins began to appear around 2016 and grew from a population of two in 2017 auction listings to the present population of nine. Despite a combined population of over 320 coins at NGC and PCGS, CAC has only stickered 21.

Top Population: PCGS MS66+ (9, 5/2024), NGC MS67 (1, 5/2024), and CAC MS66 (21:1 stickered:graded, 5/2024).

• NGC MS67 #3168271-004: Heritage Auctions, September 19, 2008, Lot 4448 – $43,125; Heritage Auctions, January 11, 2024, Lot 4412 – $43,200.
• NGC MS66+ #6823644-006: Heritage Auctions, January 12, 2024, Lot 5192 – $10,302.
• NGC MS66+ CAC #6332256-003: Stack’s Bowers, November 14, 2023, Lot 3263 – $19,200.
• PCGS MS66+ CAC #45543836: Heritage Auctions, August 24, 2022, Lot 4150 – $69,000.
• NGC MS66+ #6056835-002: Heritage Auctions, July 13, 2021, Lot 3141 – $13,200.
• NGC MS66+* #4487315-006: Heritage Auctions, February 20, 2020, Lot 3428 – $9,300; GreatCollections, April 28, 2022, Lot 1208084 – View.
• PCGS MS66+ #37543081: “The Rollo Fox Collection of $20 Saint-Gaudens Gold,” Heritage Auctions, January 9, 2020, Lot 4025 – $11.700. Fox on insert.
• PCGS MS66+ #37239262: GreatCollections, August 4, 2019, Lot 649520 – View.
• PCGS MS66 CAC #2550573: Heritage Auctions, May 3, 2023, Lot 3336 – $18,000. Old Green Holder.
• PCGS MS66 CAC #45420953: David W. Akers; As PCGS MS66 CAC #16342388. “The Dr. Steven L. Duckor Collection,” Heritage Auctions, January 5, 2012, Lot 4624 – $10.925. As PCGS MS66 CAC #45420953. “The Bob R. Simpson Collection,” Heritage Auctions, August 22, 2022, Lot 3407 – $16,200. Simpson novelty insert. Duckor-Simpson on insert.
• PCGS MS66 PQ #34914716: Heritage Auctions, September 18, 2020, Lot 3441 – $7,550. Stuppler PQ sticker affixed.
• PCGS MS66 CAC #37543080: “The Rollo Fox Collection of $20 Saint-Gaudens Gold, Part II,” Heritage Auctions, April 24, 2020, Lot 4752 – $14,400. Fox’s duplicate.
• PCGS MS66 CAC #2550573: “The Dr. Brandon Smith Collection,” Heritage Auctions, August 13, 2010, Lot 6343 – $8,050; Heritage Auctions, January 8, 2016, Lot 6778 – $8,812.50. Old Green Holder.
• PCGS MS66 CAC #05913357: Heritage Auctions, January 10, 2014, Lot 7350 – $9,400.
• PCGS MS66 CAC #50134844: Heritage Auctions, March 22, 2013, Lot 4465 – $9,693.75.
• PCGS MS66 CAC #10580195: Heritage Auctions, August 12, 2011, Lot 5996 – $6,990.
• PCGS MS66 CAC #05915397: Heritage Auctions, July 8, 2011, Lot 5248 – $6,325.

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Design

Obverse:

The obverse features a full-length image of Liberty, facing forward with an olive branch in her extended left hand and a raised torch in her extended right. Draped in a long, flowing classical gown, her hair is swept to the left. Some describe her as striding forward, but she appears instead to be in a pose, the foot of her left leg resting on a large rock (in front of which are oak leaves). To Liberty’s right, at the bottom of the coin, the sun is visible behind a depiction of the U.S. Capitol building. Rays from the sun extend upward from behind the Capitol and Liberty to about the level of Liberty’s waist. At the top of the coin is the word LIBERTY, the torch separating I and B. Forty-eight tiny six-pointed stars are arrayed just inside the flat rim, forming a circle broken only at the bottom.

The date (1914) is near the bottom on the right; a monogram of the designer’s initials ASG is below the date.

Reverse:

The crest of the sun appears again on the reverse, at the bottom with rays extending upward nearly to the top of the coin behind a majestic left-facing eagle, wings uplifted in flight. In an arc above the sun is IN GOD WE TRUST, the words separated by centered triangular dots. At the top is UNITED STATES OF AMERICA in a concentric arc next to the flat rim, with TWENTY DOLLARS just below in another arc. The words of both phrases are separated by centered triangular dots, and the text is also in front of the sun’s rays.

Edge:

The motto E PLURIBUS UNUM, in raised letters that alternate with 13 raised stars, is on the edge of the coin.

Designer

Augustus Saint-Gaudens (1848-1907) was a European-educated American sculptor, notable for numerous public monuments and other works in the Beaux Arts style. Working with President Theodore “Teddy” Roosevelt, he is responsible for some of the most beautiful numismatic designs in American history, such as the gold $10 eagle and the gold $20 double eagle.

Coin Specifications

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