1907 High Relief St. Gaudens

with a mintage of over 12,000 not that I could ever aford one but why are they so dadburned expensive?

 

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The simple reason is everybody wants one
and in the coin world 12,000 is barely anything with all the collectors out there
though not a high relief it is a 1907 which
was recently checked off one of my must
haves.

 

Congrats on that buy mister Bitcoin foam, you're the only one I know who has one! Let's see if anyone else chimes in, as you never know!

 

Publicity, marketing, psychology, reputation - that sort of thing. The PCGS blurb calls it "the highest priced U.S. coin for its rarity." Like the 1909-S VDB, it's not rare at all, it's the inflated demand. Lots of for example proof coins with mintages only in the hundreds that sell for 1/100th of one of these in the same grade, because they aren't "famous." That's my take on it anyway - I don't collect gold.

 

It took me more than 20 years, and escalating 3 grades of the coin to get the elusive MS64 virtually flawless "wire rim" specimen I wanted!

It's a "one of a kind" coin with such beauty, hard to describe, as coinworld attempts too of a private sale: https://www.coinworld.com/news/us-c...ble-eagle-realizes-4-point-75-million-dollars

A current 1907HR MS64 wire rim offering: https://www.ebay.com/itm/3565314449...5F2Dt0lWGgnS2NGorCtyTxDiQ=|tkp:Bk9SR77LgcSyZQ

 

I have said that the 1907 High Relief St. Gaudens $20 gold is the most expensive common coin in the world. Here is a piece I wrote some time ago which might explain why it's so popular. This is a "trophy coin" for many wealthy collectors.

High Relief $20 Gold

Most numismatists believe that the 1907 High Relief $20 gold piece is the most beautiful U.S. coin. This piece was the “pet baby” of President Theodore Roosevelt who started the “Renaissance of American Coinage” which extended from 1907 to 1921.

In 1905 President Roosevelt met with Augustus St. Gaudens who was viewed as the greatest American artist of his era. Roosevelt was very dissatisfied with the designs of the coins which were then in circulation and wanted to introduce a series of U.S. coinage designs that would be on a par with America’s emerging greatness. The president asked St. Gaudens to redesign every U.S. coin from the cent to the double eagle. St. Gaudens had more assignments than he could complete, and he was also becoming progressively ill with terminal cancer. Therefore he drew up the designs and assigned an artist, Henry Herring, who worked in the St. Gaudens studio, to execute the models.

St. Gaudens and Roosevelt were aware that they would face bureaucratic problems at the U.S. mint. Chief mint engraver, Charles Barber, had held his office for over 27 years. Barber took a dim view of an interfering president and an outside artist taking his job. This resulted in protracted feuds between mint personnel and the St. Gaudens studio. In my view both sides had their points. Improving the generally dull appearance of the then current U.S. coinage was long overdue, but the coins also had to be economical to produce and acceptable in the world commerce.

After considerable wrangling President Roosevelt got his way … for about month. During November and for a brief period in January 1908 the U.S. mint went on a 24/7 schedule produced a total of 12,367 double eagles in high relief. The coins were stuck on a medal press, and it took from three blows from the dies to bring up the design. The coins were made in batches of 1,000 because they had to be made with the same set of dies to avoid doubling of the devices. Between each strike, the planchets had to be annealed to soften them for the next strike. The resulting coins were very beautiful but also very impractical. After this brief run, Roosevelt agreed that the High Relief coins were not practical, and the lower relief coins took their place.

The coin pictured above is a superb example of the 1907 High Relief $20 coin. It is virtually mark free surfaces, and the soft satiny luster that typical of this piece. I have called these coins “The most expensive “common” coin in the U.S. series.

More than half of the original mintage survives, but most any example of the coin is priced well within 5 figures because of demand.



1907 "low relief"

 

I thought you might be the one to have one and here you are! You have an amazing collection, all top shelf and a two timer at that!

 

To clarify....

Charlie Thomas is Not the Charley you know and love.

I have been mistaken before as this member, because the first thing that happens is members view "Charlie" and assume it is me.

I know I am the preferred Charley, and did not want members to think I changed my name.

So everybody calm down. I am still here.

 

The other thing with 1907 High Relief is it appeals to non-coin collectors as art.

 

There can only be one?


Welcome to CT @Charlie Thomas

 

Hello charley, just another Charlie here, and you're absoutley right as I am pretty new to this website and you are a well known member so hopefully no one will confuse us, lol!

 

I think I love you.....

 

Except that the demand for the 1909-S penny is pretty much just collectors.

You have many of the MCMVII High Reliefs in the hands of people who have no other coins and don't know a thing about them. When the coins came out, they were largely distributed to VIPs and given out to people who knew all about the coin and/or ASG as an artist/sculptor....they avoided circulation....hence, most of the ~ 8,000 survivors (maybe more ?) are all very-well preserved, I don't think I have ever seen one below AU-53.

Many of the original owners of an MCMVII HR bequeathed them to their children or grandchildren. Many are in SDBs in velvet pouches. Very well-taken care of.

At the time, many people who wanted the coins were fans of ASG and knew nothing about Double Eagles, the new coin design, or high relief coins. The coins traded up to $30-$32....but by 1920 they were barely at $22.