Saint-Gaudens Low-Relief Double Eagles 1907-33 Coin Guide
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Saint-Gaudens Low-Relief Double Eagles 1907-33
United States coinage has never been more beautiful than it was in the
early years of the 20th century. The Buffalo nickel . . . the Mercury dime
. . . the Standing Liberty quarter . . . the Walking Liberty half
dollar-these were among the aesthetically stunning coins that made their
first appearance and circulated side by side during that period.
Fittingly, however, the centerpiece of this "golden age"
wasn't a nickel or silver coin, but one made out of gold. The Saint-Gaudens
double eagle, or $20 gold piece, stands above the rest as the single most
magnificent coin of this-or any-era in U.S. history.
As the 1900s dawned, Augustus Saint-Gaudens was a towering figure in
the sphere of American fine arts. Widely acclaimed as the nation's
preeminent sculptor, he was also a man of eloquence and influence who
dominated the art world of his day not only by example but also through
the exercise of power and persuasion.
His brilliance and renown brought him to the attention of President
Theodore Roosevelt, and the two men developed a warm relationship that was
at once both personal and professional. In 1905, Saint- Gaudens designed a
handsome inaugural medal for the president. Pleased and impressed,
Roosevelt then invited him to fashion prospective new designs for the two
largest U.S. gold coins, the double eagle and eagle, and also for a
one-cent piece (which never reached production). Saint-Gaudens welcomed
the challenge and plunged into the project with all his prodigious energy
and skill.
Both men admired the high-relief coinage of ancient Greece, and both
agreed that U.S. gold coins patterned after that model would be a
spectacular achievement. They would also stand in stark contrast to the
two undistinguished-looking coins that were being replaced, the Liberty
double eagle and the Coronet eagle, both of which had their roots in the
first half of the 19th century.
Although his health was deteriorating as the project went along, Saint-Gaudens
created superb designs for both gold coins. The double eagle, especially,
is a masterpiece. Its obverse features a full-length portrait of Liberty
with a torch in her right hand and an olive branch in her left. She is
shown in full stride with rays of sunlight behind her and the U.S. Capitol
Building to the left of her flowing gown. Encircling her are 46 stars-one
for each state in the Union at that time. The coin's reverse depicts a
breathtaking eagle in flight, with the sun below extending its rays
upward. Above the eagle, in two semicircular tiers, are the inscriptions
UNITED STATES OF AMERICA and TWENTY DOLLARS. High points to check for wear
are Liberty's breast and knee and the eagle's wing.
Saint-Gaudens placed another required motto, E PLURIBUS UNUM, along the
edge of the coin, thus reducing the clutter on the obverse and reverse and
reinforcing their clean, open look. He and Roosevelt conspired to omit IN
GOD WE TRUST from the first of the new double eagles, but God-fearing
members of Congress noticed this and mandated addition of this motto on
later issues, starting near the end of 1908. On pieces produced
thereafter, it appears above the sun on the reverse.
Roosevelt and Saint-Gaudens intended that the coin would be struck in
high relief to bring out each exquisite detail. Unfortunately, though, the
artist died in 1907, almost on the eve of the coin's debut. Meanwhile,
Roosevelt was preoccupied with more pressing matters of state. All this,
combined with the requirements of mass-produced coinage, gave Mint Chief
Engraver Charles E. Barber a chance and an excuse to reduce the coin's
relief. High-speed minting required this, he said-and what's more,
high-relief coins wouldn't stack.
Fortunately, the beauty of the coin remains dazzling, even in lower
relief. And thankfully, Saint-Gaudens' original art was preserved in its
pristine beauty through the minting of small numbers of extremely
high-relief patterns and high-relief business strikes in 1907-or rather
MCMVII, for the date was shown on these coins in Roman numerals.
The first production pieces were made with high relief. But after
striking just 11,250, Mint officials substituted new dies with the
modified, lower relief, and these remained in use through the end of the
series. As if to underscore the shift from the classical to the
commercial, the Mint used Arabic numbers in dating all reduced-relief
double eagles.
"Saints" were minted each year from 1907 through 1916. A
three-year hiatus followed, after which the coins were struck yearly from
1920 through 1933. The branch mints in Denver and San Francisco augmented
the main Philadelphia Mint production, but not in every year. Mint marks
appear above the date the designer's initials (ASG) below.
From 1929 onward, newly minted examples were held almost entirely as
part of the nation's gold reserves, with few being released into
circulation. Almost all of these were melted (along with many earlier
double eagles) following the gold recall order signed in 1933 by another
President Roosevelt-Theodore's cousin, Franklin. As a result, double
eagles dated 1929 through 1932 are exceedingly rare today. The Mint
produced nearly half a million pieces dated 1933, but the government
maintains that these were never released, and thus it is illegal to own
them. That was the end of regular-issue U. S. gold coinage.
Mintages were generally modest, but heavy melting, not low mintage, was
primarily responsible for creation of the major rarities, including the
1927-D, the 1920-S, the 1921, the 1930-S and the 1932. The survival of
many of these dates is predominately due to the large quantity of gold
coins held in Swiss and French bank vaults. Since the 50s, tens of
thousands of "Saints" have found their way back to their country
of origin and into collectors' hands. Proofs are very rare as only 687
were offered for sale from 1908 through 1915. They were made with a flat
matte finish except for 1909 and 1910 when they were made with a more
brilliant Roman or satin finish. This large gold coin is actively sought
by a myriad of collectors: from bullion hoarders to type collectors to
those challenged by the awesome (and expensive) undertaking of assembling
a complete date and mintmark set.
In 1986, the U.S. Treasury paid the "Saint" the highest
compliment by placing its obverse design on the American Eagle gold
bullion coins, where it has remained ever since.
SPECIFICATIONS:
Diameter: 34 millimeters Weight: 33.436 grams Composition: .900 gold,
.100 copper Edge: Lettered E PLURIBUS UNUM Net Weight: .96750 ounce pure
gold
BIBLIOGRAPHY: Akers, David W., A Handbook of
20th-Century United States Gold Coins 1907-1933, Bowers & Merena
Galleries, Wolfeboro, NH, 1988. Bowers, Q. David, United States Gold
Coins, An Illustrated History, Bowers & Ruddy, Los Angeles, 1982.
Breen, Walter, Walter Breen's Complete Encyclopedia of U.S. and Colonial
Coins, F.C.I. Press/Doubleday, New York, 1988. Dryfhout, John H., The
Works of Augustus Saint-Gaudens, University Press of New England, Hanover,
NH, 1982. Taxay, Don, The U.S. Mint and Coinage, Arco Publishing Co. Inc.,
New York, 1966. Vermeule, Cornelius, Numismatic Art in America, The
Belknap Press of Harvard University Press, Cambridge, MA, 1971.
Coin Information Provided Courtesy NGC.
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