1924-D $20 MS63 Certification #06650210, PCGS #9178

Charles Morgan

The 1924-D Saint-Gaudens Double Eagle

The Denver Mint struck 3,049,500 Saint-Gaudens Double Eagles in 1924, yet the vast majority of this mintage never reached the public. Most were held in government reserves and subsequently melted down in the late 1930s following the gold recalls. The few specimens that escaped the crucibles were largely exported to foreign banks, only to be repatriated decades later once the federal government eased restrictions on private gold ownership. Because these survivors were handled as institutional bullion rather than numismatic treasures, many extant examples exhibit the significant bag marks and "chatter" typical of heavy handling.

In his 1982 landmark reference, United States Gold Coins: An Analysis of Auction Records, PCGS Coin Dealer Hall of Famer David W. Akers noted:

“The 1924-D is a scarce date, similar overall to the 1908-S, 1909-D and 1926-S. However, since most known 1924-D twenties are uncirculated, the date is not nearly as rare in Unc. as either the 1908-S or 1909-D.”

More than 40 years later, Akers’ analysis remains remarkably accurate. Currently, the 1924-D ranks 34th overall in terms of certified survivors—nested tightly between the 1909-D (33rd) and the 1908-S (35th).

The Scarcity of "Gem" Specimens

While the 1924-D is comparable to its peers in raw survival numbers, it becomes significantly more elusive in high grades. It is roughly twice as scarce in Gem condition as either the 1908-S or 1909-D. The PCGS Population Report illustrates this steep "condition rarity" curve. Because so few of these institutional survivors were spared the friction of transport, a 1924-D with minimally abraded, lustrous surfaces represents one of the most significant challenges for the specialized Saint-Gaudens collector.

Akers also spoke of two noteworthy specimens. One was the Amon Carter, Jr. coin; the provenance of this piece (now graded PCGS MS66) has remained intact as it has traded from one renowned collector of U.S. gold to another. The story of the second coin is less clear. Described as the finest example Akers had ever seen, this Gem appeared in the 1981 NASCA sale and later in the collections of Marty Haber and Dr. William Crawford. I'd love to "connect the dots" and renew this pedigree story.

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