1909/8 St. Gaudens Gold PCGS MS64

Description

This overdate was created when the Mint engraver used a 1908 hub and a 1909 hub to create at least one die. Some believe that only a single die was used to coin the overdate, which is possible considering that the population reports show a virtually equal number of overdate and regular date 1909 Double Eagles have been graded. This overdate was first discovered in 1910 and published by Edgar Adams in The Numismatist. Later it was popularized by Wayte Raymond in his Coin Collector’s Journal in May 1943. This issue was once considered quite scarce until large groups were found in European bank hoards. The survival at the top levels for the 1909/8 is very close to that of the 1909. Mint State coins can be found, but it is very rare in Gem condition. An NGC MS 66 example sold at public auction in 2007 for ,375.
Created by master sculptor Augustus Saint-Gaudens, the 1909/8 Gold Saint Gaudens is the descendant of the Liberty Double Eagle which first entered circulation in 1850. The denomination was created as a means of exhausting an overage in gold supply due to the 1849 California Gold Rush. They were never intended for general use in commerce as the amount easily equated to a month's wage during the time of issue - making them impractical to carry as a coin. Instead, they were struck to monetize the surplus of gold and to be used exclusively in business transactions, largely between banks.
THIS COIN WAS STORED IN A SAFE DEPOSIT BOX IN A SMOKE FREE ENVIRONMENT