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| Antiques |
Realm of the Coin
Dana Micucci
06/01/2004
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“The $20 St. Gaudens coins are especially popular because they are
so large and beautiful,” explains New York coin dealer Anthony Terranova. “Rare
coin collectors place a high premium on aesthetics.” He counsels collectors to
view rare coin collecting as an exercise in visual appeal, much like collecting
works of art.
 | | THE ENGRAVING on the $4 stella, now worth $250,000 to $300,000, tells how many
grams of gold, silver and copper are in the coin. |
Coins produced in small mintages that are in the best possible
condition—those with the most clearly defined designs, highest luster and
minimal markings—command the highest prices. Indeed, the degree of preservation
and rarity of a gold coin can mean the difference between several hundred and
several hundred thousand dollars in value. For example, a $20 St. Gaudens from
1927, when almost 3 million of these coins were minted in Philadelphia, can be
purchased for about $440 in circulated condition and $1,300 in uncirculated
mint-state condition. However, a $20 St. Gaudens minted in Denver in 1927 in
uncirculated mint-state condition brought $402,500 at the Dallas Bank Collection
auction held jointly by Sotheby’s and Stack’s in 2001. This coin benefits from
its rarity: One of the most sought after in the St. Gaudens series,
approximately 180,000 examples were minted that year in Denver; only 13 are
known to survive.
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