1931-D Gold $20 - All examples are uncirculated?

According to PCGS, "All known 1931-D twenties are uncirculated". That doesn't make sense to me. The stated mintage was 106,500. Perhaps none were put into circulation and they were all melted, with a small population (~100-200) surviving somehow.

It is making more sense to me now that the last issues of the $20 were not released into circulation. With population reports of all well under 200 pieces.

• 1929
• 1930-S
• 1931
• 1931-D
• 1932

Is there a good website or book where I can learn about the fate of the gold double-eagles prior to 1933?

 

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NGC does have 1 graded at AU-58. 1929 has 7 graded less than MS.

 

This is speculation, but it won't surprise me if some guy like Izzy Switt, who is famous for "boosting" the 1933 double eagles from the mint, also recused these coins. The speculation was that Izzy went to the Philadelphia Mint with a double eagles and had an insider switch his double eagles for new ones each year.

The situation was that these coins were struck, but never issued. They sat in the treasury vaults until FDR's gold surrender order. At that time, the gold coins which were collected and those which the government had on hand were melted and cast into gold bars.

As for sources about these coins, I'll check my library. I have a couple of books that provide information by date for double eagles.

 

You can check out the Encyclopedia of U.S. Gold Coins 1795 - 1933 by Jeff Garrett and Ron Guth. It will tell you pretty much the same story for these coins. They struck and held in government vaults. With the world in a planet wide economic depression, there were little demand for these coins. Once the Gold Surrender Order went into effect, they were melted. The few that exist somehow got into the hands of collectors and dealers.

 

Thanks so much, could you share a few titles. I'm right now looking for the Encyclopedia of U.S. Gold Coins 1795 - 1933 by J Jeff Garrett and Ron Guth, although its out of print.

 

There is a first and second edition of this book. I only have the first one. I am guessing, but I would say that updated auction and certification numbers are what you will get in the second edition.