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June 29, 2015

COIN OF THE WEEK

Gem 1907 High Relief $20 Flat Rim PCGS MS65 - $48,500.
Click on Coin Image to enlarge


Gem surfaces. Augustus St. Gaudens Masterpiece. The example offered is nothing short of breathtaking and is just a hint away from full gem mint condition. The gleaming satin surfaces are immaculate and silky. The strike is superb and as one would expect for the issue the devices virtually leap off of the coin. This is a highly desirable and especially choice High Relief Double Eagle that is destined to instantly become the focal point of a significant collection or numismatic investment portfolio.

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

1907 $20 Saint-Gaudens, High Relief, Roman Numerals (MCMVII). It was the intention of President Theodore Roosevelt, who hand-selected Saint-Gaudens to redesign the $20 gold piece, that our coinage should receive a face lift and be elevated to the level of artistry achieved by the ancient Greeks. He believed that coinage was reflective of the society that produced it and wanted designs befitting our status as a major world power and leading democracy. America’s largest circulating denomination coin, the gold double eagle, was to be the centerpiece of this renaissance. Saint-Gaudens’ rendering of Lady Liberty on the obverse and a flying eagle on the reverse certainly achieved the desired result.

Though hailed as an aesthetic triumph at the time, the High Relief Double Eagle was quickly deemed impractical for circulating coinage due to problems stacking the coins as well as the multiple strikes needed to produce them. After minting just 12,367 pieces (inclusive of both Wire Rim and Flat Rim varieties) the relief was lowered and the date modified to Arabic numerals. Some 361,667 of this latter type were then minted in 1907.

The Flat Rim variety, as seen here, is considerably scarcer than its Wire Rim counterpart. The Flat Rim was not initially planned but in fact was the solution to a production problem encountered at the Mint. The first pieces struck in 1907 possessed a fin of metal on the rim produced by a tiny bit of gold squeezing between the die and the collar during the multiple blows required to strike the coin. Mint officials believed it to be both aesthetically inferior and legally problematic since the wire edge quickly wore away leaving the coin under weight. The design was modified in December and it is estimated that roughly one third of the total High Relief mintage is of this variety.


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ADDITION NEW COINS ADDED - (Week of 6/29/2015)

Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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