1920-S Indian Head Eagle

The 1920-S Indian Head Gold Eagle represents the rarest circulation strike of the series from a branch Mint, in this case the San Francisco Mint. Within the broader series, it represents the third rarest circulation strike issue behind the 1907 Rolled Edge variety and the 1933.

The coins had been produced following a three year gap in the series and would be followed by another three year gap. The mintage of the coin was 126,500, which was not an incredibly low number as several issues have lower mintages. The more important factor was that the vast majority of pieces were introduced into circulation where they circulated heavily, with many pieces subsequently melted.

Fewer than 100 examples of this issue have been certified by the major grading services, split relatively evenly between circulated and uncirculated examples. Just a tiny number of gems have been graded.

The 1920-S Indian Gold Eagle carries a premium across all grade level. The Red Book lists a value of $11,000 for pieces graded VF-20. At the other end of the spectrum, the single finest known example graded PCGS MS67 sold for an incredible $1,725,000 at auction in January 2007.