The Saint-Gaudens Double Eagle, a $20 gold coin minted from 1907 to 1933, is considered one of the most beautiful American coins.
Its design is the work of sculptor Augustus Saint-Gaudens, and its significance lies in both its aesthetic appeal and the role it played in a broader reform of U.S. coinage.
The coin was created as part of President Theodore Roosevelt's vision to elevate the artistic quality of American coinage.
The obverse depicts Lady Liberty striding forward, holding a torch in her right hand (symbolizing enlightenment) and an olive branch in her left (symbolizing peace). Behind her is the U.S. Capitol building, with rays of the rising sun in the background. The figure of Liberty is modeled after Saint-Gaudens' earlier works, symbolizing the forward march of freedom.
The reverse features a majestic bald eagle in flight with the sun beneath it. This design symbolizes strength and the bright future of the United States.
High Relief: The early 1907 version of the coin was minted in high relief, meaning the images were deeply engraved, giving the coin a more sculptural appearance. However, the high-relief design was difficult to mass-produce, and the relief was later lowered for subsequent issues.
Today, these coins are a trusted store of wealth due to the intrinsic value of the gold content. Each St Gaudens Double Eagle was minted with .9675 troy ounces of 21.6k gold, or .900 purity. A small amount of copper was added to add strength for circulation. As a tangible investment, Pre-1933 gold coins are highly liquid. The market for these coins spans both investors and collectors.
Sadly, millions of $20 St Gaudens coins were melted into bars when the U.S. government recalled the gold and continue to be stored in Fort Knox. The ones that have survived, carry some numismatic premium due to their rarity, especially those in higher grades or with specific mint marks or low mintage years.
Buying third-party graded coins provides a level of authentication not found in raw coins. Many consider NGC and PCGS to be the leading grading services. Both have existed for decades and are widely trusted by the numismatic community as well as bullion investors.
NGC and PCGS both use the Sheldon Scale, which ranges from 1 to 70, with 70 representing a perfect, flawless coin.
While both companies are highly reputable, some collectors feel that PCGS may be slightly stricter on certain grades, particularly in higher categories (e.g., MS-66 vs. MS-67). As a result, there may be slight variations in how coins are graded at the very highest levels.
Some investors are drawn to certified Saint-Gaudens coins because certification ensures the coin’s authenticity, helping to remove the risk of counterfeits.
Higher-grade coins can sell at a premium, and certification provides a reliable measure of that quality.
Each Saint-Gaudens gold coin coins nearly an ounce of gold, roughly 0.9675 troy ounces of pure gold.
Beyond its gold content, the numismatic value of the coin can vary significantly depending on the year, mint mark, and condition of the coin. Coins graded by services like PCGS or NGC hold more appeal due to verified authenticity and condition, often fetching higher prices.
Key dates, like the 1907 High Relief or the rare 1933 issue, can command significantly higher premiums, reaching millions of dollars.
Saint-Gaudens Double Eagles are highly liquid in the gold and numismatic markets. Historically, these coins have appreciated in value over time, especially for rarer dates and coins in higher grades.
As with other precious metals, Saint-Gaudens coins are viewed as a hedge against inflation and economic uncertainty, offering investors a tangible store of value.
President Theodore Roosevelt played a direct role in commissioning the redesign of American coins in the early 20th century.
He found the existing coin designs uninspiring and wanted U.S. currency to reflect the grandeur of classical art, much like ancient Greek coins.
Roosevelt personally sought out Saint-Gaudens, one of the most celebrated sculptors of the era, to lead the effort.
Roosevelt's enthusiasm and direction were instrumental in shaping the final design, and his correspondence with Saint-Gaudens highlights his passion for making American coinage more artistic and symbolic.
1907 (High Relief)
1907 (Ultra High Relief)
1920-S
1927-D
1933
1928
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