1913 $20 JD-1, R.5, PR67 NGC

$325,000.00 USD

There is some confusion about the mintage of proof 1913 Saint-Gaudens double eagles among the various authorities. The 2025 Guide Book lists the proof mintage as a tiny intake of just 58 pieces. In his Saint-Gaudens Double Eagles as Illustrated by the Phillip H. Morse and Steven Duckor Collections, Roger W. Burdette notes that the "Deliveries 1911-1915" notebook/ledger at the Philadelphia Mint records two deliveries of proofs, one batch of 58 specimens on January 13 and another group of 30 examples on November 29, for a total of 88 pieces (73 example were actually struck in January, but only 58 were delivered, with the rest held back and released as part of the later delivery). In his recent series reference United States Proof Coins, Volume IV: Gold, John Dannreuther reports a third delivery of 11 coins that took place on December 4, making the production total 99 pieces. Curiously, records indicate only 58 examples were actually distributed, corresponding to the number delivered on January 13. Whichever total is correct, the experts' estimates of the surviving population for the issue are in close agreement. PCGS CoinFacts estimates 40 to 45 examples survive today in all grades, while Burdette suggests 40 pieces are extant, and Dannreuther believes 35 to 45 specimens still exist.

Unfortunately, the population data seems to be inflated by resubmissions and crossovers, so by our own estimates we believe the number to be closer to 35-40 true survivors.

Evidently, some collectors and dealers had trouble acquiring the proof sets early in the year, as Henry Chapman wrote a letter that was published in the December 1913 edition of The Numismatist about the matter:

"I am very glad to report this morning, after considerable correspondence and urging others to write to Mr. George E. Roberts, Director of the Mint, we have at last succeeded in getting that gentleman to comply with our request and strike proof sets for 1913."

It is possible that Chapman's efforts resulted in the Mint's decision to produce more proofs later in the year, accounting for the deliveries in November and December. It seems likely that the record of the number sold is incorrect, as the survival rate is extremely high if only 58 examples were distributed. Perhaps some coins were simply sold to interested parties, like Chapman, for face value after the end of the year and preserved for posterity in this manner.

Relatively few public offerings of the 1913 proof double eagle occurred in the early 20th century. The proof double eagles were usually offered as part of complete gold proof sets, like the one in lot 23 of the Charles H. Conover Collection (B. Max Mehl, 5/1914):

"1913 $20, $10, $5, $2.50. Dull sand blasted finish. Complete set. Four pieces. Very rare."The lot realized $40, an average price for proof coins that were less than one year old at the time. Of course, increased collector demand for gold proofs has driven prices realized to astronomical heights in recent years. 

The present coin is a spectacular Superb Gem is finer than that piece, with razor-sharp definition on all design elements. The virtually flawless khaki-gold surfaces radiate the strong, unbroken matte luster typical of this issue. Close inspection with a loupe reveals no mentionable distractions and overall eye appeal is terrific. We expect intense competition from series specialists and Registry Set enthusiasts as this is one of the finest Matte Proof Saint-Gaudens certified. Extremely Rare