Heritage Auctions

Gold!

The word alone captures one's attention, and the recent increase in gold's value has demanded its share of that attention.

Gold coins intrigue, and those designed by sculptor Augustus Saint-Gaudens attract special interest. Cost and availability decree that few attempt to acquire a complete collection of them, but the allure of Saint-Gaudens' gold pieces attract many numismatists to satisfy their desire by owning at least a few of these fabled coins - perhaps just one example each of the $10 eagle and the $20 double eagle.

Collector Phillip H. Morse attempted the feat of building a complete collection, and came close. He owned all the double eagles, with the exception of the fabled 1933, and most of the eagles.

It's been said, "Every coin has a story," and the story of each of Saint-Gaudens' gold pieces is told in a book, The Coinage of Augustus Saint-Gaudens as Illustrated by the Phillip H. Morse Collection, by James L. Halperin, Mark Van Winkle, Jon Amato and Gregory J. Rohan.

Morse's collection, sold by Heritage Numismatic Auctions in 2005, provides the basis for the presentation, starting with beautiful, enlarged photos of the obverse and reverse of each of Saint-Gaudens' gold coins. The photos are dramatic. However, the accompanying text gives far more than mere description of the coins. The combination makes the book a treasure. A coffee-table book, yes, but that's too easy an assessment of this production.

The authors comprise a quartet of knowledgeable, highly respected numismatists, but they augmented their experience with data available from the writings of David Akers, Q. David Bowers and Walter Breen. Also, Roger Burdette, currently in the process of finishing the third book in a trilogy, The Renaissance of American Coinage, provided much information, as did Dr. Steven Dukor, who sold pieces from his collection to Morse. No more detailed presentation of Saint-Gaudens coinage has ever been presented.

The John Kutasi Collection contained some eagles not available in the Morse Collection, and that gentleman generously allowed the authors access to his collection to complete the story - more correctly, the stories. Each coin's story gets its allotted attention.

The 1907 Saint-Gaudens, Roman Numerals, Ultra High Relief, Lettered Edge double eagle gets its share of attention including consideration of the three different varieties produced of this fabulous coin. The coin brought $2.99 million, leading the way in the Morse Collection auction. Not far behind was the 1927-D Saint-Gaudens double eagle described in the book as "the rarest gold coin of the 20 th century and the rarest coin of any denomination or metal from this century."

Rare, high priced coins intrigue, but this account of Saint-Gaudens' gold coinage is not a price guide, and it pays full attention to common coins. The 1932 Indian Head eagle and 1924 Saint-Gaudens double eagle, each generally considered the commonest coin of their denomination, get their full page of deserved discussion.

Details offered for each coin vary, but mintages, estimated existence, certified populations, true rarity and condition rarity, color, expected strike, luster, surfaces and relative availability in various grades (especially Mint State) are included in the discussion.

In addition to the individual coin stories, related material is covered. The machinations of the design process are detailed, including the strained relationships of President Theodore Roosevelt and Saint-Gaudens with the Mint personnel in general, but especially Mint Engraver Charles Barber. Roosevelt's decision to not place the motto "In God We Trust" on the Saint-Gaudens coins is told, including how public sentiment led Congress to order the motto's placement on both denominations. A description of the matte proofing process appears.

A special section is titled "Experimental 1907 Large and Small Letters Proof Double Eagles Incorrectly Omitted by Judd," a reference to pieces not listed in J. Hewitt Judd and Q. David Bowers' United States Pattern Coins, Experimental and Trial Pieces.

All gold coin collectors and dealers should own the book. Any numismatist will find it interesting and fun to read. Besides, all will learn something new. For information, write Ivy Press Inc., 3500 Maple Ave., 17 th Floor, Dallas, TX 75219-3941.

Col. Bill Murray, San Antonio, Texas, has been writing his column for new collectors since 1974.

PHILIPMORSE'S1907 Saint-Gaudens, Roman Numerals, Ultra High Relief, Lettered Edge gold $20 double eagle, graded Proof 69 by PCGS, brought $2.99 million when sold at auction Nov. 3, 2005, by Heritage Numismatic Auctions.