Is Your 1924 Saint-Gaudens Double Eagle Real? How to Spot a Fake

Historical Significance

The 1924 Saint-Gaudens Double Eagle stands as one of the most celebrated designs in American coinage. Commissioned by President Theodore Roosevelt from renowned sculptor Augustus Saint-Gaudens, this $20 gold piece showcases Liberty striding forward on the obverse, torch of freedom held high in her right hand and olive branch in her left. The reverse features a majestic eagle in flight. Following public outcry, the motto “IN GOD WE TRUST” was added to the reverse in 1908.

The 1924 date represents a common issue in the series, struck at the Philadelphia Mint without a mint mark. While not rare by absolute numbers, high-grade examples like MS66 specimens command significant premiums due to the coin’s artistic merit and gold content. The market for these coins has been particularly active, with recent listings showing MS66 specimens trading in the $7,500 to $7,800 range, especially those bearing the CAC (Certified Acceptance Corporation) sticker.

Authentication Guide

Weight and Metal Composition

Authentic 1924 Saint-Gaudens Double Eagles should weigh precisely 33.431 grams and measure 34mm in diameter. The coin contains 0.9675 troy ounces of pure gold (.900 fine), with the remaining .100 being copper alloy for durability. Any significant deviation from these specifications should immediately raise suspicion. Counterfeiters often struggle to replicate the exact gold content, resulting in coins that are either underweight or overweight.

Magnetic Properties Test

Since authentic Saint-Gaudens Double Eagles are composed of 90% gold and 10% copper, they should not be attracted to a magnet. This simple test can quickly eliminate many fakes, particularly those made from magnetic base metals or those with steel cores. However, some sophisticated counterfeits use non-magnetic metals that mimic the weight and appearance of gold, so this test alone is not conclusive.

Die Markers and Design Details

Several key design elements require careful examination when authenticating a 1924 Saint-Gaudens Double Eagle:

• Eagle’s Beak: The forum discussion mentions a “distraction by the eagles beak on the reverse” as a potential reason for CAC rejection. Examine the eagle’s beak carefully for proper detail and sharpness. Weak strikes often show flattened or indistinct beak details.
• Liberty’s Breast: As noted in the discussion, marks on Liberty’s breast are particularly distracting for high-grade specimens. The breast area should show full detail with no significant abrasions or marks that would detract from the MS66 grade.
• Sun and Rays: An experienced collector mentioned that authentication often comes down to examining “the chest and Sun at the.” This refers to the sun and its rays behind Liberty’s head. The rays should be sharp and well-defined, with no signs of weakness or doubling.
• Edge Lettering: The edge should feature raised lettering reading “E PLURIBUS UNUM” separated by stars. The lettering should be uniform and properly spaced.

Common Fakes and Counterfeits

The numismatic community has identified several types of counterfeits targeting Saint-Gaudens Double Eagles:

“CAC is tough on Saints, that said its all about the premium over spot for the common coins and chasing a sticker and paying more for a 64 CAC than a 66+ seems short sighted” – Forum Comment

This comment highlights an important market reality: counterfeiters often target CAC-stickered coins because of their premium value. Common fakes include:

• Gold-plated Tungsten: These fakes use tungsten cores (which have a similar density to gold) and are plated with a thin layer of gold. They pass weight tests but fail purity and sound tests.
• Base Metal Fakes: Made from inexpensive metals like copper, brass, or pot metal, these are often easy to spot due to incorrect weight and magnetic properties.
• Altered Dates: Some counterfeiters take genuine Saint-Gaudens Double Eagles from common dates and alter the date to make them appear rarer. Careful examination under magnification can reveal tooling marks or inconsistencies in the date numerals.

Testing Methods

Visual Inspection

Begin with a thorough visual examination using a quality magnifying glass (10x minimum). Look for:

• Sharpness of detail in high points (eagle’s feathers, Liberty’s hair, torch flame)
• Consistency of strike quality across the entire surface
• Any signs of casting (pitting, uneven surfaces, lack of sharp edges)
• Proper mint luster and cartwheel effect when rotated under light

Weight and Dimension Verification

Use a precision scale accurate to at least 0.01 grams. Verify the coin weighs 33.431 grams ± 0.1 grams. Measure the diameter (34mm) and thickness (2.24mm) with calipers. Significant deviations indicate a counterfeit.

Sound Test

Authentic gold coins produce a distinctive ringing sound when gently tapped with another coin or metal object. Counterfeits made from base metals produce a dull thud. This test requires experience to interpret correctly.

Professional Authentication

For high-value specimens, professional authentication through PCGS, NGC, or CAC is essential. These services use advanced equipment including X-ray fluorescence (XRF) analysis to verify metal composition without damaging the coin.

Market Considerations

The forum discussion reveals important market dynamics for 1924 Saints. One collector noted that MS66 specimens are “priced right” at $800 over spot value, while another pointed out that CAC-stickered examples command $7,500 to $7,800. The discussion also highlights that CAC is “tough on Saints,” making their stickers particularly valuable for authentication purposes.

Steve, presumably a numismatic expert, provided crucial insight: “If CAC felt this coin was not solid as just a 66, they sure as heck would feel it’s far from solid as a 66+ if asked off the record!” This underscores the importance of third-party authentication for high-grade specimens.

Conclusion

The 1924 Saint-Gaudens Double Eagle remains one of the most beautiful and collectible gold coins in American numismatics. While common in the absolute sense, high-grade specimens with proper eye appeal and authentication command significant premiums. The key to successful collecting lies in understanding the authentication markers discussed above and recognizing that third-party certification, particularly with CAC approval, provides crucial protection against the growing threat of sophisticated counterfeits.

For investors and collectors alike, the 1924 Saint represents both a beautiful piece of art and a tangible store of value. By mastering the authentication techniques outlined in this guide and purchasing from reputable dealers, collectors can build a portfolio of genuine specimens that will appreciate in both historical and monetary value for generations to come.

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