Things to Know About the 20 Saint Guadens Gold Coins

The 20 Saint Guadens gold coins are also popularly known as the Saint Gaudens Double Eagle or Double Eagle gold coins. These coins were issued by the US Mint from 1907 to 1933. The coins were designed by the acclaimed US sculptor, Augustus Saint-Gaudens. The coins bear the Saint-Gaudens mark, below the date.

The history of the 20 Saint Gaudens gold coins goes back to the 20th century. Saint Gaudens was hired by President Theodore Roosevelt to design coins for the American coinage. However, Saint Gaudens could only design the Double Eagle and the Indian Eagle gold coins before he died. These are considered as some of the most popular designs among hobbyists and collectors.

The value of these numismatic coins is decided by their state of deterioration. The coin’s condition is evaluated by the process of coin grading. The coin grading system evaluates a coin based on its surface, design, element, visible appeal and luster.

$20 Saint Gaudens Gold Coins: The High Relief
The term ‘High Relief’ is often used to describe these coins. Twenty four Proof Double Eagles Saint Gaudens were minted in 1907. These coins were made of 24-karat pure gold. Later on, 11,250, more High Relief $20 Saint Gaudens coins were issued and circulated. However, the images on the coins made them heavier and difficult to store. The original Saint Gaudens coins were then modified to produce a flatter version.

$20 Saint Gaudens Gold Coins of 1908
These $20 Saint Gaudens gold coins are famous because of the omission of the phrase ‘In God We Trust’. The phrase was also omitted from a few coins manufactured in 1907. This was done on the directions of President Roosevelt. The phrase was reintroduced in the Saint Gaudens coins minted in 1908.

The Last Saint Gaudens Gold Coins of 1933
In 1933, owning gold coins were declared illegal by the US government. This was done to stabilize the economy and stop the hoarding of gold currency during the Great Depression of 1939-1940. At this time, all gold coins were melted down. Two Double Eagle gold coins, which survived the melt down, were presented by the US Mint, to the U.S. National Numismatic Collection, at the Smithsonian Institute. These were the only two known legal specimens. However, in 1952, eight more 1933 Double Eagle gold coins were seized by the Secret Service. These coins were seized because they were thought to be stolen from the US Mint.

Liberty Head Double Eagle: Very Fine

During 1848-52, the chance discovery of large goldmines in California led the American Government mandate the issue of its first $20 gold coins. Earlier, the highest denomination was $10 and the coins were named ‘Eagle.’ Drawing upon the logic, the $20 coins came to be known as ‘Double Eagle.’ Engraver James B. Longacre conceptualized the pioneering design for the Double Eagles ‘Liberty Head.' The Liberty Heads were released from 1849 to 1907. In the year 1849, only two proofs were molded and its mass production officially began in 1850.

The obverse design of the coins features the head of Lady Liberty, aligned sideways. Along the circumference, thirteen stars are present that seem to surround her head. The year is engraved in an arch alignment right below her head. The reverse is a more complex design portraying the bald eagle in the center with its wings spread. One of its claws holds some arrows and the other holds an olive branch. An ornate shield appears to cover most of the frontal portion of the eagle. Encircled by thirteen stars, the ‘motto’ appears (1866-1907) above its head.

From the collectors’ point of view, there are three main categories of the coin. Unlike the later two variants, the Type I (1850 through 1866) Liberty Heads did not carry the motto ‘In God We Trust.’ The Type II (1866 through 1876) had the words engraved and the denomination was mentioned as ‘Twenty D.’ The Type III (1877 through 1907) carried the motto and was primarily different from the previous two issues in that the denomination was expressed as ‘Twenty Dollars.’ Additionally, it had some design modification, like the repositioned head of Liberty and her acutely diagonal neckline.

Type III Liberty Heads were minted in the largest numbers, partially owning to its 21-year stint. Most of them went into the national treasuries of the investing countries, rather than going into mass circulation. This exported variety is a highly valued one, as is the Type 1A (1861), designed by Anthony C. Paquet. However, all the three series are available in various grades, including VF (Very Fine), from VF-20 to VF-35. These coins contain light to moderate wear & tear. The buyers should avoid the coins ‘cleaned’ for enhancing the eye appeal.

For valuation purpose, the obverse is more significant than the reverse. One must closely examine the areas behind the ears, along the cheeks, hair, and forehead on the frontal side. On the reverse, the possible spots of aberration are the eagle’s neck, the contours of its wings, and the breast feathers, apart from the upper edge of the shield. Fingerprints, handling marks, hairline cracks, and minting defects reduce the worth of the coins. Traditionally, the VF grades have traded at spot price as well as premium. Presently, they usually trade at the spot rate, adding to its appeal.

Saint Gaudens $20 Gold Coin: MS 64

In the year 1907, the then US President Theodore Roosevelt commissioned the adornment of the American coinage to his friend Augustus Saint Gaudens. The new series of coins created was named after its designer. Saint Gaudens $20 coins are known for their high aesthetic appeal. They were recognized as the best design pieces. This series was issued from 1907 through 1933. For the numismatics and investors, there are two main sub categories for Saint Gaudens – one without the motto ‘In God We Trust’ and the other with the motto. The coins minted throughout 1907 and partially in 1908, did not contain the words. As they could not gain wide public acceptance, a law was passed in 1908, mandating the engraving of the motto.

The obverse portrays a prominent figure of Lady Liberty holding the symbols of freedom and peace in her hands. Her right, outstretched hand holds the torch of freedom. The left arm is stretched sideways. It holds an olive branch in the middle. The backdrop signifies the backing of the religious ‘glory.’ The reverse features a large bald eagle flying over the image of sun, positioned at the bottom. Along the circumference on the frontal side, 46 stars (1907-1911 releases) or 48 stars (1912-1933 releases) are engraved. The number of stars corresponded with the number of federal states in the US. Mexico and Arizona were included in the year 1912. Therefore, these variants also represent two different types of the coin for the collectors.

Among the most valued Double Eagles are the ones from the rare series. During the last four years, 1929-33, much fewer coins were released, rendering them much sought-after. The eye appeal often drives the grading, demand, and value of the coins. This explains why the MCMVII mint of 1907 enjoys a very active market and is an expensive variety. Ironically, such high appeal coins are most prone to bumps, marks, and defects, all of which contribute towards lowering their value.

Various St. Gaudens are easily available in the mint state, which implies such coins never went into circulation and are present in the original condition. The mint state (MS) Double Eagles are available in grades between 60 and 70, with 70 representing the finest grade and truly flawless. MS-64 is a popular and easily accessible version that signifies no wear & tear and original mint shine. However, it may contain some bag marks, hairline, or molding defects. Its luster is original, but may be marred by some visible spotting of mellowing red copper contents. It is possible for a coin with noticeable deficiencies to slide into the lower bracket, MS-63. Nevertheless, some compensating factors like extra shine may help retain its grade.