The aesthetics of the obverse and reverse of the Saint-Gaudens double eagle have been the subject of intense study. Numismatic art critic Cornelius Vermeule provided many insightful comments, and a number of others have written about the beauty of this design. Often ignored, however, is the “third side of the coin,” the edge, which although not artistically remarkable was an integral part of Saint-Gaudens’ design.

In October or November 1906 Saint-Gaudens settled on the final design for the double eagle, but he left no place for the required E PLURIBUS UNUM. Saint-Gaudens felt that if the motto were placed on the obverse or reverse the design would too crowded, so he decided put it to the edge. The United States, however, had not struck regular-issue lettered edge coins since 1836, when the first steam press was installed. Those letters were sunken, but Saint-Gaudens’ design called for raised edge lettering.

Charles Barber worked to develop a three-segment edge collar for the eagle and double eagle, but it proved to be an engineering challenge. A few High Reliefs were also struck using two different kinds of collars (”toggle” and “cone” collars). The wire rim or “fin” posed additional problems for the Mint, and it was not until December 1907 that the double eagle collar operated reliably at the Philadelphia Mint.

The result was the much-scarcer Flat Rim coins, as seen here. Collar problems persisted, however, and few Flat Rim twenties actually have a completely flat rim. These problems continued into the following year, and the Denver and San Francisco Mints reported collar problems through the first half of 1908.

The 1907 High Relief double eagles needed to be struck with three blows of the die in order to bring up the full details of the design. The first two strikes were made with a plain edge collar and for the last, the lettered edge collar was substituted. The significant time required to strike each High Relief coin made them impractical for circulation purposes, but a total of 12,367 pieces were struck and immediately sought by collectors.

The Flat Rim coin seen here is one of the most successful attempts made by the Mint at suppressing the wire rim or “fin” of extruded metal.

“Capped Bust, Small Head” - Tied for Finest Known!

Production of the American Quarter Eagle ceased in 1808 and didn’t resume until 1821. This smallest of gold denominations was again in demand by a few banks, yet only 6,448 pieces were produced in the first year. None were minted during the next two years. In 1824, it was decided to, once again, resume production and only 2,600 pieces were produced using old dies from 1821 as an economic measure. Hence the over date we have at hand which shows traces of the original “1” in the date. An aging Robert Scot (77 years old in 1821) devised crude copies of his 1813 half-eagle design, according to the late numismatic legend, Walter Breen. This design was apparently translated into dies created by John Reich who had designed the last Quarter Eagle produced in 1808. The “Capped Head” type was issued in very small quantities only through 1827 and ALL are considered rare in any grade. In mint state condition they are EXTREMELY RARE.The present piece is one of two coins to survive in this lofty gem grade from a minuscule original mintage of 2,800 coins. It boasts rich mint color and surfaces one would expect from an MS65. This series is one of the most undervalued in all of American numismatics today. Every veteran professional numismatist will attest to the true rarity of this short-lived series and this particular piece will certainly find its way into a top-notch set of U.S. gold coins, either as a type coin or one of a nearly impossible date set in mint state. A true opportunity for the astute collector or investor and a storehouse of value for generations to come!

Current Population: MS65: 1 PCGS & 1 NGC with NONE graded higher. Time Capsule 1827: February 28 - The Baltimore & Ohio Railroad is incorporated, becoming the first railroad in America offering commercial transportation of both people and freight. March 16 - Freedom’s Journal, the first African- American owned and published newspaper in the United States, is founded in New York City by John Russwurm. May 21 - The Maryland Democratic Party is founded by supporters of Andrew Jackson in Baltimore and hosts its first meeting at the Baltimore Atheneum. July 14 - Kingdom of Hawaii: The Diocese of Honolulu is founded. September 22 - Joseph Smith Jr. obtains the Book of Mormon, for him to translate. March 26 - Ludwig van Beethoven, German composer (born 1770) dies

IR Date 13 Stars B-15. BB-152

To have a 1799 anything with such a beautiful mint blast and unparalleled surfaces is truly a Numismatic event. This coin goes well beyond what most collectors have ever seen and I would truly advise anyone with a practiced eye to view and enjoy this coin. Nearly the finest known (there is a 66) but without question one of the Finest Seen! The early Mint designer, Robert Scot (one t) made his original adaptations of the Great Seal of the United States in 1796 for the Quarter Eagles. It followed that a few years later he would use that basic design to improve and “professionalize” the large coinage of the Country, in this case the Bust Dollars. This brought us to the Heraldic Eagle design that has been castigated as “Tasteless Military Brag” or as a “Heroic” design depending on your taste. In any case this basic reverse was used on Eagles, Half Eagles, dismes, half dismes, Dollars and Halves, basically the whole gamut of coins produced by our mint. The processes of the Mint in the early days were quite primitive and the dies did not last long. What that has given us is a huge number of nearly unique variations on a general theme. If you study the Bolender Book (a dense tome to be sure) you will come away with a blizzard of differing types of varieties for each year that these coins were minted (1798 to 1804, yes I know no regular ones were dated in 1804 but they were produced that year anyway, just dated 1803). In 1799 alone, some 11 different Obverse dies and 17 different Reverse dies were combined to produce 23 varieties. This is a numismatists dream, variation upon variation. For the less collector minded of us, the major varieties of each date will suffice and give great enjoyment. The collection and investment in the Early Dollar Varieties is quite a rewarding venture and to own a piece of the earliest history of the United States as represented in our coinage is a great pleasure. This unparalleled specimen is one of the finest Bust Dollar by grade for the date (with the exception noted above) but the real story here is that it is one of the finest for the entire type. Major Auctions come and go (like buses nowadays) and have realized sales into the high multi-millions without a coin near this fine presented to the buyers. There are less than a half a dozen coins of any date in the Heraldic Eagle design in grades finer than this and less than two dozen to match it.

This specimen has a lovely; natural deep golden toning and is the 13 Arrows 7 / 6 stars regular date variety. A spectacular coin.

Mint State Early Gold - Large Eagle

From an original mintage of 44,344 , the 1801 Gold Eagle is not rare in comparison to some other date. It is estimated that there may be 150 examples in Mint State 62 or better, but that is only part of the equation.These are truly beautiful coins from the earliest days of the Republic No gold Type set is complete without one, and the allure and mystic that surrounds them makes for a solid purchase. Early Mint State Gold has proven to be a stable and sought after investment

Although Chief Engraver Robert Scot is credited with the Heraldic reverse, numismatic researchers believe that he was aided in the preparation of the first dies by assistant John Smith Gardner, who started work at the Mint in 1794, but quit less than two years later, supposedly unsatisfied with his compensation. No doubt he was also weary of Scot’s constant harassment, which the marginally competent Chief Engraver heaped on anyone he thought might threaten his position. The Philadelphia Mint made 119,248 eagles of this design between 1799 and 1804, but many were destroyed in the huge melts that took place throughout the early part of the 19th-century. As the world price of gold rose in response to France’s “Reign of Terror” and the Napoleonic Wars, large quantities of U.S. gold coins disappeared across the Atlantic as just so much bullion.

Call Us for Information on this coin and/or other Classic Rarities - 800-999-7285

MS64 NGC “Small Stars”

Designed by Robert Scot, the “Heraldic Eagle” was issued from 1797 through 1804, with the 1799 being the most available date although none could be considered “common. Some thirty-seven thousand specimens were issued the year of George Washington’s death and were, at the time, the largest denomination issued by the United States. (Few realize that no government-backed currency was issued until the middle of the Civil War in 1863). The finest-known of this date is a single MS66 specimen, however it is the “large stars” variety with only a scant few known in gem MS65. This is one the 8 “Small Stars” varieties listed by John Dannreuther in “Early U.S. Gold Varieties” (BD-7) and is the highest available grade for the variety with 7 graded by PCGS and only 4 by NGC! This near-gem MS64 example represents superb value at today’s levels and will surely find it’s way into a world-class collection of American gold coins. It is a classic piece of Americana and a true piece of history to hold in your hand and will reward its new owner for generations to come!

1799 in History: March 1 - Federalist James Ross becomes President Pro Tempore of the United States Senate. March 7 - Napoleon captures Jaffa in Palestine and his troops proceed to kill more than 2,000 Albanian captives. March 29 - New York passes a law aimed at gradually abolishing slavery in the state. Notable deaths in the last year of the 18th Century include June 6 - Patrick Henry, American revolutionary politician (b. 1736) and December 14 - George Washington, first President of the United States, who missed seeing the 1800 new year by barely more than two weeks (b. 1732)

While the sun never set on the British flag in the 19th century, the 20th century was definitely “The American Century.” After the assassination of William McKinley in 1901, President Theodore Roosevelt typified the American spirit: young, vibrant, and energetic. Roosevelt’s interest in the appearance of America’s coinage was not merely that of a collector or enthusiast of coinage.

It is not an overstatement to say that Roosevelt had a clear idea of the role that the United States would play in the 20th century. To that end, he sought a new appearance for American coinage, one that would project to all the nations of the world the vision and dynamism of the United States. Just as mint officials from the 1790s understood the importance of the exact weight of all silver and gold coins and how that exactness affected the acceptance of U.S. coins abroad, Theodore Roosevelt understood the importance of the appearance of American coins.

To that end, he challenged America’s foremost sculptor, Augustus Saint-Gaudens, to alter the coinage then in circulation which Roosevelt considered to be artistically of “atrocious hideousness.” In 1905, Roosevelt and St.Gaudens first met to discuss the possibilities of producing coins with high-relief details in the manner of the ancient Greeks. The result was the spectacular coin at hand.

Ultra High Reliefs, as they are now called, were struck seven times on a medal press in order to fully bring up all the details engraved into the dies. In addition, they were annealed between strikings, a process that heated the coin to a cherry-red color and then cooled in a weak solution of nitric acid. The result was a coin that had a surface of nearly pure gold and which gives Ultra High Reliefs an even more distinctive appearance.

Each side is bright, shimmering pure gold with no variation between fields and devices. The Ultra High Relief transcends terms such as “satiny” or “frosted,” when discussing the finish. It is simply pure, glittering gold. Undoubtedly this contributes to the popularity and desirability of the 19-20 coins that are known from the original 24 which were produced (only 13 are listed in the current certified population reports of NGC and PCGS ). But its desirability goes far beyond this.

The lore of the Ultra High Relief includes the meticulous striking conditions under which these pieces were produced, their production by presidential order, and the time spent to strike each coin. This is essentially the full embodiment of the artist’s original conception and the 24 coins were distributed to officials and dignitaries who, it is said, were suitably impressed by their sheer magnificence. Alas, the time and energy needed just to strike these coins was less than practical for high-speed mint production, let alone the fact that they were unwieldy and would not stack like other coins.

The design was modified to what is now known as the “High Relief” and some 11,250 coins were produced before again succumbing to practicality and commerce and culminating in the “Low Relief” (virtually flat) coin which was produced at the end of 1907 and remained essentially in production, with minor variations, through 1933.

The Ultra High Relief was the first coin to break the $200,000 price barrier and that was in the Ullmer Sale in 1974. (What is a $200k house from 1974 worth today?). It has few peers in terms of desirability and none that compare in historic or numismatic importance. Its only rival is the 1933 double eagle, bookends in this widely collected series, and the only twenty dollar piece that is more valued than the Ultra High Relief–but then, only one 1933 is legal to own—— for now.

According to the NGC Census and PCGS Population Report, this is the only PR69 in existence. (The NGC Census Report shows another PR69, but this is the same coin, apparently the flip was never returned to NGC and so the duplicate entry remains).

The significance of this coin in American numismatics cannot be overstated, yet despite its hefty value, it may still be underrated.

All honest debates aside about which is the most important American coin, there is no doubt that this specimen would appear in everyone’s top 5 list and many would argue that it should probably rise above others of a more spurious or clandestine origin such as the 1804 dollar or 1913 Liberty nickel. As mentioned before, the 1933 is the only double eagle of greater value, but the display of no less than 10 other specimens at the 2006 ANA Convention in Denver presents an ominous specter for the future value of the hitherto “world’s most valuable coin.”

Thus it is entirely within the realm of possibility that in the very near future, this magnificent piece could establish itself as the “Holy Grail” of American Numismatics!

NGC MS-67 Highest Graded

NGC MS-66-Pop 1

NGC MS-66

NGC MS-67