1925 $20 MS66+ 认证号39408558, PCGS号9180

David Akers (1975/88)

The 1925 is a very common issue that is readily available in quantity in all Mint State grades up to and including MS-64. Gems are also available with regularity, and there are some specimens that easily grade MS-67 or better. As a date, this is often lumped together with the likes of 1924, 1927 and 1928 but it is much more rare than those issues, and the 1923-D as well, in all Mint State grades and especially in gem condition. Other specialists have indicated that the 1925 is much more rare than the 1926 in gem condition but my experience is just the opposite. I find gems of 1926 to be considerably more rare than those of 1925.

The 1925 is nearly always very sharply struck. The lustre and color on most specimens is typically very good to excellent. All specimens are frosty. Although the color varies rather widely, most specimens are in the orange or rose colored gold category. Many examples also have appealing greenish gold iridescence or highlights. Reddish or orange copper stains are not unusual on this issue.