1929 Saint-Gaudens Gold $20

The U.S. Mint struck double eagles (gold $20) from 1850 to 1933. For over 50 years, the coins featured a relatively uninspiring Liberty Head design. In 1907, however, the design was replaced with the gorgeous work of famed sculptor Augustus Saint-Gaudens. While the relief of the finished coins was lower than the artist intended, it is still considered by many to be one of the most beautiful U.S. coin designs. Many dates can still be found today for a modest premium over its intrinsic gold value. In contrast, prices for 1929 issues in low Mint State are about 10 times higher than their more common counterparts, and coins made after 1929 are even more expensive.

The NGC Census lists fewer than 150 examples of this coin bearing the date of the start of the Great Depression, which led to the end of gold coins struck for circulation. Numismatic Guaranty Company (NGC) recently received a purported example of a 1929 Saint-Gaudens double eagle. A glance at the coin’s details indicates that something is seriously wrong. Note the crudeness of Liberty’s face and the Capitol building on the obverse. The coin is clearly counterfeit, but interestingly, the forger didn’t use the transfer-die method that involves copying the design directly from a genuine coin. Instead, they created their own dies from scratch! 

The counterfeit lacks the natural smooth luster that would be expected on a genuine coin. Its roughness stands out in several areas, including the pimpling on the sun on the reverse. The rays are also too sharp; note how they gently fade on a genuine example. While a fake double eagle has no numismatic value, it is worth checking to see whether it is struck in the expected 90-percent gold. Unfortunately for this coin’s owner, it is brass.

NGC certification for a 1929 double eagle is advisable not only because of the coin’s high value but also because of the substantial differences in value between one grade and the next. NGC backs its determinations of authenticity and grade with the NGC Guarantee.

A version of this article appears in the November 2025 issue of The Numismatist (money.org).