PCGS MS66
PCGS MS66
- PCGS #:
- 9192
- Designer:
- Augustus Saint Gaudens
- Edge:
- Lettered
- Diameter:
- 34.00 millimeters
- Weight:
- 33.40 grams
- Mintage:
- 2,938,250
- Mint:
- Philadelphia
- Metal:
- 90% Gold, 10% Copper
- Auction Record:
- $322,000 • MS67 • 08-11-2010 • Heritage Auctions
Major Varieties
- 1931 $20
Rarity and Survival Estimates Learn More
| Survival Estimate | |
|---|---|
| All Grades | 127 |
| 60 or Better | 120 |
| 65 or Better | 55 |
| Numismatic Rarity | |
|---|---|
| All Grades | R-7.7 |
| 60 or Better | R-7.8 |
| 65 or Better | R-8.4 |
| Relative Rarity By Type All Specs in this Type | |
|---|---|
| All Grades | 5 / 49 |
| 60 or Better | 7 / 49 |
| 65 or Better | 22 / 49 TIE |
| Relative Rarity By Series All Specs in this Series | |
|---|---|
| All Grades | 5 / 54 |
| 60 or Better | 7 / 54 |
| 65 or Better | 22 / 54 TIE |
Condition Census What Is This?
|
#1 PCGS MS67
RARCOA, August 1980, Lot 1998 – $57,500; "Auction '84," Paramount, July 1984, Lot 1000 – $38,500; Jack Hertzberg, May 1998; “Phillip H. Morse Collection,” Heritage Auctions, November 3, 2005, Lot 6710 – $264,500; Heritage Auctions, August 2010, Lot 3650 – $322,000; “The Dr. Brandon Smith Collection,” Heritage Auctions, August 11, 2010, Lot 3650 – $322,000. |
#2 PCGS MS66+
As PCGS MS66 #10007661. "The Warren Collection," Heritage Auctions, May 8, 2022, Lot 4115 - $312,000. As PCGS MS66+ #10007661. "The Elite Collection" (PCGS Set Registry). Two pin-sized copper toning spots on the eagle. A third is located below R of DOLLARS. |
#3 PCGS MS66
"The Louis E. Eliasberg, Sr. Collection," Bowers & Ruddy, October 1982, Lot 1072 - $17,600; David Akers; Dr. Steven Duckor, May 2010; "The Dr. & Mrs. Steven L. Duckor Collection," Heritage Auctions, January 5, 2012, Lot 4650 - $126,500; Heritage Auctions, June 1, 2012, Lot 5394 - $120,750; "The Alymaya Collection, Part II," Heritage Auctions, October 2, 2025, Lot 3218 - $252,000. Scattered marks on the rays below the eagle; swirling reddish-gold toning along the center of the obverse and below the eagle on the reverse. |
|
#3 PCGS MS66
Bob. R. Simpson, March 2010. As PCGS MS66 #45402582. "The Bob R. Simpson Collection, Part X," Heritage Auctions, January 12, 2023, Lot 3962 - $300,000. As PCGS MS66 #54817453. Frosty. Ticks on Liberty's chest, the top of her garment, neck, and face. |
#3 PCGS MS66
|
#3 PCGS MS66
Heritage Auctions, February 20, 2020, Lot 3434 - $120,000. Tick on Liberty's chest. Diagonal hairline mark between rays 9 and 10. On the reverse there is a tick at the top of ray 5 near the border near 9 o'clock. |
#3 PCGS MS66
Heritage Auctions, November 1, 2016, Lot 5646 – $129,250; Dell Loy Hansen; "The D.L. Hansen Collection" (PCGS Set Registry). Small mark on the hem of Liberty's dress near her left knee. Toning spot at the base of I of LIBERTY. Toning spot at the star to the upper right of the date. Diagonal mark between rays 19 and 20. |
#3 PCGS MS66
|
#3 PCGS MS66
"The Dr. Robert Hesselgesser Collection," Goldberg Auctioneers, September 2007, Lot 3546 - $143,750. Horizontal mark on the hem of Liberty's dress, to the left of her knee. Mark on rays 6 and 7. Faint diagonal mark on the sun below WE. |
|
#3 PCGS MS66
"The Jay Brahin Collection," September 2006. |
| #3 PCGS MS66 |
| #3 PCGS MS66 |
1931 Saint-Gaudens Double Eagle
A total of 2,938,250 Saint-Gaudens Double Eagles were struck in 1931. Despite this high mintage, none were distributed to the Federal Reserve Bank. Instead, nearly the entire production remained in Treasury storage, making them easy to round up when the Treasury Department recalled all U.S. gold coinage in 1933. Consequently, almost the entire mintage was melted down, with destruction beginning in 1937.
United States Mint records indicate that only 310 coins were ever made available to collectors; of those, 141 were held by the Mint cashier at the close of 1931. Various experts estimate that only 100 to 120 specimens survive, making it one of the rarest issues in the entire series.
Technical Characteristics: "How They Come"
Surviving examples are typically of high quality. Among the "late-date" Saints (1929–1932, excluding the unique 1933), the 1931 is the second rarest overall, surpassed only by the 1930-S (#9191). However, it is more common in Gem condition than the 1930-S, 1931-D (#9193), or, by a very slim margin, the 1929 (#9190).
- Strike: Usually very sharp, though some examples exhibit flat stars below the Capitol building.
- Luster & Surface: Surfaces are consistently frosty. While the luster and color are generally excellent, they rarely equal the brilliance of the 1932.
- Die Break: Some specimens feature a long, vertical, slightly curved die break running through the eagle's beak on the reverse.
- Coloring: Most specimens display a light-to-medium orange or coppery-gold hue. A rare few exhibit a deep yellow-gold color with a light greenish tint. Copper spots are relatively common.
Vintage Market Snippets
Collectors in the mid-to-late 1920s could not have predicted that the gold coins of their era would soon become major rarities. Were it not for the efforts of local Philadelphia dealers like Israel Switt, this issue would likely be even more elusive.
The market began to realize the scarcity of late dates when Thomas Elder offered a specimen in his September 1937 auction. However, the market did not truly accelerate until the 1940s, when uncirculated examples fetched $200 to $300 at auction—on the rare occasions they were offered. Notably, the finer of the two Philip H. Morse 1931 Double Eagles has remained at the top of the PCGS Census for over 20 years.
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