The 1932 St. Gaudens $20 Gold Coin was made in large quantity, with over one million struck. The 1932 St. Gaudens $20 Gold Coin was only produced at the United States Mint in 1932, however, this is not the reason it is considered rare. The fact is, most 1932 St. Gaudens $20 Gold Coins were melted following the abandonment of the gold standard in the 1933 by President F. D. Roosevelt.
St. Gaudens $20 Gold Coins are popular for their large size, beloved design, and the fact that they contain nearly one troy ounce of gold. Most double eagles of the early 1930s did not spend much time in circulation, and this has helped contribute to the relatively well condition of most later $20 gold coins.
For coins that are 80+ years old, the condition of the coin is something that is always called into question. Most of these coins have been heavily circulated throughout their lifetime, and with that knowledge it goes without saying that many of these pieces have been damaged to some extent. This is why collectors carefully analyze the surfaces of a 1932 St. Gaudens $20 Gold Coin prior to ever making a purchase.
Normally, a person who is looking to have the condition of their coin officially judged will send the coin away for grading at the hand of some professional company. Knowing that not everyone has the money to send their coins away for grading, we have provided below an outline of the most popular coin grades as well as their characteristics.
Uncirculated: A coin that is determined to be Uncirculated is one that never spent any time exchanging hands. These coins will appear to be pristine and are exactly that. The overall texture of the coin will have been perfectly preserved, and even the coin itself will have a nice luster. For collectors, these coins are the most desirable.
Extremely Fine: A coin that is determined to be Extremely Fine is one that spent only a little bit of time in circulation. These coins will appear to be free from any flaw, but upon closer inspection you will see some signs of wear and tear including light scratching. Collectors still strive to get their hands on these coins because they are still in decent shape.
Fine: A coin that is determined to be of Fine grade is one that has spent a good bit of time being circulated. These coins will show some signs of damage, but for how long they were in circulation the overall damage will be fairly light.
Good: Good is the lowest grade a coin can receive and is indicative of a piece that has been heavily damaged. These pieces will have been smoothed thanks to the changing of hands over the years. In fact, some of the imagery may be hard to make out with the naked eye due to the damage. Though in poor condition, these coins are still added to collections all the time.
As far as grading the 1932 St. Gaudens $20 Gold Coin is concerned, you need to take into consideration the condition it is in. The condition of the coin means everything to collectors so if the coin is in great shape it will naturally sell for a higher price. Listed below is a chart aimed at giving you a better idea of what you might be asked to pay for a 1932 St. Gaudens $20 Gold Coin given its condition.
St. Gaudens $20 Gold Coin
|1932 St. Gaudens $20 Gold Coin||N/A||N/A||N/A||$20,000||Source: Red Book|