MCMVII (1907) Saint-Gaudens Double Eagle. High Relief. Flat Rim. MS-64+ (PCGS).This breathtakingly beautiful example is fully struck with intense satin luster throughout. Vivid medium gold patina blankets both sides are further enhances already memorable eye appeal. PCGS has mounted this coin with the reverse up in the holder, the reason unknown.In 1904 President Theodore Roosevelt had occasion to visit the Smithsonian Institution in the "Castle" building a short walk from the White House. On display were coins of ancient Greece, this in an era before the Mint Collection was moved there (in the 1920s). He contemplated the array of beautiful designs before him. Upon consideration, he reflected that current United States silver and gold coinage was rather unappealing from an artistic viewpoint (never mind that we all dearly love Liberty Head gold coins, Morgan dollars, and Barber silver today!). On his own he contacted Augustus Saint-Gaudens, Americas best-known sculptor, who had his studio in Cornish, New Hampshire, and was working on various commissions. Today his home, studio and grounds comprise a National Historical Site well worth visiting in the warmer months. Roosevelt suggested that the entire United States coin spectrum be redesigned from the cent to the double eagle. Saint-Gaudens took up the commission, valued at $5,000, and set about making sketches and models. As fate would have it, the sculptor was in declining health, his condition worsened, and by early 1907 had created detailed motifs for only the $10 and $20 pieces. He passed away on August 3 of that year.Charles E. Barber, the chief engraver of the Philadelphia Mint, vigorously protested Roosevelts interference in the Mints normal prerogative of creating whatever designs it pleased. Taking up the challenge, Roosevelt called the project his "pet crime." As models were finessed and dies in high relief were completed, Barber stated that the coins would be virtually impossible to strike in quantity. The riposte from Roosevelt was that he did not care if only one coin per day could be struck, that is how it would be! A compromise was effected, and slightly over 12,000 MCMVII High Relief $20 pieces were struck in 1907 and from the same dies early in 1908. Afterward, the design was modified by flattening the motifs, eliminating the Roman numerals and making certain other changes.Over a long period of years various surveys in the numismatic field have ranked this as the most beautiful of all circulating coinage designs. We believe that perhaps 6,000 examples are known, or about half the mintage, as these were appreciated in their own time and many were saved. With solid Choice quality, the coin offered here is sure to please.From the Magnolia Collection.
