Heritage Auctions

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DALLAS, TX - Continuing an annual tradition begun in 1996, Heritage Auction Galleries has awarded a Mint State High Relief double eagle to Gregory Drajem, a collector from Florida. The valuable rare coin was the Grand Prize in an annual survey of clients undertaken by Heritage to provide continuing high levels of service. The coin has been certified by NGC as an MS-61.

"Greg Drajem's numismatic journey will sound familiar to many collectors," said Greg Rohan, President of Heritage. "He has been interested in rare coins for most of his life. Those of greatest interest to him are Bust Dollars and Three-Dollar gold pieces, but he also enjoys collecting other gold and silver U.S. Type coins. His interest in numismatics started young, accompanying his father to coin shows."

As Mr. Drajem tells his story: "Dad has been buying, selling, and trading coins for nearly 45 years. As a child, I grew up naturally visiting local coins shows and dealers across Florida. I became a serious collector in 1979 and celebrated my commitment by becoming a Life Member of the ANA. I have now been attending ANA and FUN conventions, as well as local shows, for more than 30 years. Collecting coins continues to be a passion for me because of the pride I can take in ownership, and my appreciation of their beauty seems to grow with every purchase. My passion for learning about rare coins continues on a daily basis."

Previous winners have been from New York, Illinois, Washington, Arizona, Michigan, Colorado, Kansas, Indiana, California, Virginia, and Maryland.

"With our growing global presence," said Rohan, "I suspect that someday one of our international clients will receive the winning phone call. Most of our winners usually say that they've never won anything in their lives, and then agree that this majestic coin is a pretty good start."

The 1907 $20 High Relief, with its date in the Roman numerals MCMVII, is arguably the most beautiful American coin ever minted. It also enjoys popularity as a first-year-of-issue coin, a (less than) one-year type with a tiny mintage of 12,367 pieces.

The High Relief double eagle is on nearly every collector's wantlist, and is avidly pursued wherever it appears. Even novice collectors quickly become aware of the fascinating history of the coin, starting with President Theodore Roosevelt's desire to improve the aesthetic qualities of America's coinage.

Teddy selected sculptor Augustus Saint-Gaudens for the project. Implicit in the new designs were an appreciation for the coins of ancient Greece with their high relief designs and strong artistic traditions. Teddy wanted coins that would embrace American ideals for all time. Unfortunately, the problems inherent in production (requiring multiple blows to bring up all of the details) and its limited use in commerce (banks had trouble stacking the coins) meant a short-lived issue. Before 1907 expired, reduced relief versions of the basic design were being produced bearing the date in Arabic numerals.

For more information about Heritage's auctions, and a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit www.HA.com.

To reserve your copy of any Heritage auction catalog, please contact Client Services at 1-800-872-6467, ext. 1150, or visit www.HA.com/Catalog to order by email.

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