1928 Saint Gaudens - 1928 $20 PCGS MS67. This Superb Gem 1928 Saint-Gaudens Double Eagle is tied for the second finest known at PGCS and is tied for the finest at NGC. As expected for a coin of this lofty grade, the luster is blazing and the surfaces are pristine. No abrasion marks are visible without the aid of magnification. Shades of yellow and orange gold attest to the coins originality. The strike is excellent with full details on Libertys bosom, the Capitol building and its immediate area, and the eagles feathers especially at the top of the wings.

The High Relief Saint-Gaudens double eagles have long been considered Americas most beautiful coin; however, even the low relief coins that Charles Barber modified, such as the present coin, have had lasting beauty and appeal. The modern Gold American Eagle bullion program uses a modification of the Saint-Gaudens double eagle low relief design, and it is exceedingly popular with investors as a replacement for the Union of South Africa Krugerrand.

Low relief Saint-Gaudens double eagle coins were first issued in 1907. They continued until 1933, when all gold production stopped. The low relief coins had Arabic numerals for the date instead of the Roman numerals seen on the previous two issues. In 1908, despite President Roosevelts preferences to the contrary, the motto IN GOD WE TRUST was added to the reverse. In 1912 two stars were added to the obverse of the coin to correspond with the new states added to the Union.

During the Great Recall of 1933-34, there was extensive melting of double eagles. Americans were mandated to turn in their hoards of gold with an exemption of $100 in gold coin per person. Collectors of rare and unusual coins were also allowed to keep their collections, probably because certain government officials had collections of pattern coins. Not only did the act prohibit the hoarding of gold, it prohibited the increasingly extensive speculative activity abroad in foreign exchange [that] has resulted in severe drains on the Nations stocks of gold. As a result, President Franklin Roosevelt declared a national emergency and bank holiday, which he felt would be in the national interest. After confiscation of the coins, there was melting. The coins were made into gold bricks that were deposited in Fort Knox. In the period from 1933 to 1939, 66,383,444 double eagles were melted.

The majority of dates 1912-1933 were destroyed. Some coins survived this melting because they had been stored in European bank vaults. However, for low mintage coins the percentage of coins that was saved very low since few specimens reached Europe. The result is that when rare specimens are offered, they often are either in circulated condition or have the usual bag marks.

The original design of Saint-Gaudens double eagle shows a full figure of standing Liberty. She wears a loose, flowing gown that allows her left leg to be exposed as she rests it on a rock. In her right hand she carries a long torch and in her left, an olive branch. Behind her are the rays of a rising sun. To the left of her right foot there is a small Capitol building, and to the right of her left ankle is the date. She is encircled by forty-eight stars, one for each state in the Union at the time of issue. The edge is lettered E PLURIBUS UNUM, divided by stars. The reverse shows a large eagle, reminiscent of Gobrechts, flying towards the left over a stylized rising sun. Some of the suns rays touch the opposite rim. IN GOD WE TRUST is on the circular edge of the sun. The inscription UNITED STATES OF AMERICA is in an arc at the top of the coin. Just beneath the legend is the denomination, TWENTY DOLLARS. All of the words in the legends on the reverse are separated by dots.

Augustus Saint-Gaudens first commission was for a statue of Admiral Farragut in Madison Square Park in New York City. He also did statues of Abraham Lincoln, Civil War General John A. Logan, and a special statue of General Sherman let by Victory, which is at the entrance to New Yorks Central Park. Much of his work was done designing decorative art for architectural firms with whom he worked.  In 1900 Saint-Gaudens moved to his summer home in Cornish, New Hampshire. A group of artists joined him there, including Bela Lyon Pratt, his former student and future designer of the new quarter and half eagles. In 1907 Saint-Gaudens died of stomach cancer just after he created the beautiful high relief models for the new eagle and double eagle coins at the request of President Theodore Roosevelt. Saint-Gaudens had earlier designed Roosevelts second inaugural medal, and the two had become friends.

In its population report, PCGS shows 74 1928 double eagles certified at the MS67 grade level with only one finer.