The 1920-S is the third rarest Indian Head Eagle from the standpoint of availability in all grades. It is also among the rarest in Uncirculated grades and in Gem Uncirculated and finer grades.

Unlike other rare United States gold issues from the 1920’s, the 1920-S Indian Head Eagle appears to have been used in circulation as more are known in circulated grades than in Mint State. It also appears that a substantial number of these pieces were melted and that the survival rate is among the lowest of any Indian Head Eagle relative to the original mintage figure.

1920-S Indian Eagle: Poor Strike Quality, Marked Surfaces

The quality of strike seen on this date is very distinctive. The RTY in LIBERTY is often very weak and on some pieces it is so faint that it is nearly impossible to discern with the naked eye. Many others are weak on the top of the 19 and the bottom of the 2 in the date. A small number of pieces are sharp on the obverse and these are much more desirable than the typical weakly struck 1920-S Eagle. The reverse is always weak on the eagle’s wing and the front leg.

Many of the circulated 1920-S Eagles which exist have been roughly handled and show noticeable marks or evidence of cleaning on the surfaces. The Uncirculated pieces tend to be weakly struck (see above) and have a number of handling marks in the fields.