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Lot
5444

1907 $20 High Relief, Flat Rim MS65 PCGS....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 6 Internet/mail/phone bidders
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Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:

1907 Flat Rim High Relief Twenty, MS65
Rich, Satiny Mint Luster
1907 $20 High Relief, Flat Rim MS65 PCGS. This is a gorgeous Gem that exhibits satiny yellow-gold luster with full mint brilliance, slightly brighter in appearance on the reverse. The surfaces on both sides of this beauty are remarkably fine, with only a few minuscule marks and a single tiny luster graze in the right obverse field. The strike is sharp with nearly full design definition. Both sides have extensive, swirling die polish lines as always seen.
Although Saint-Gaudens created a wonderful design, it was not practical, as each coin took 12 minutes to produce. It was necessary to use the 150-ton medal press to strike these coins, and then only with three blows. Using a single press, striking one coin at a time, it would have taken nearly four months to produce the 12,867 coins that were minted. The actual production time was not nearly so long, thus there was apparently some opportunity to batch different parts of the process, in addition to the use of multiple coin presses.
The scarcity and beauty of these coins was obviously recognized from the start, and they brought a 25 to 50% premium over face value almost from the start. While the premium dropped to just one or two dollars over face value by the 1920s, it only remained at that level for a short time. Some pieces may have been spent as circulating coinage during the Depression. Obviously, many others were carefully preserved, much like this piece that is nearly as perfect as the date it was made. This is the much-scarcer Flat Rim variant that is approximately five times scarcer than the Wire Rim version.
Ex: National Money Show Signature (Heritage, 3/2007), lot 2338.(Registry values: N7079) (PCGS# 9136)

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The Coinage of Augustus Saint-Gaudens as Illustrated by the Morse and Duckor Collections
Revised Edition by James L. Halperin, Mark R. Borckardt, Mark Van Winkle, Jon Amato, and Gregory J. Rohan, with special contributor David W. Akers

The Coinage of Augustus Saint-Gaudens is an issue-by-issue examination of these two artistically inspired series of gold coins. Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published. The book is based on two extraordinary collections: The Phillip H. Morse collection and the Dr. and Mrs. Steven L. Duckor collection.

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