Park Avenue Numismatics has bought and sold many of the rarest $20 St. Gaudens Double Eagles over the last two decades and was awarded recognition by PCGS (Professional Coin Grading Service) for assembling the Finest Known complete set of St. Gaudens, including the scarce 1927-D in 2005.
"With the recent run up in the precious metals markets and gold at an all time high, collectors and investors are scouring the rare coin market for great values as a hedge against the ravages of inflation", according to Carlos Cabrera, Executive Vice President and Managing Director or Park Avenue. "The instrinic value of a $20 St. Gaudens is an ounce of gold, however, the rarity of a coin such as this makes it a worth over $600,000. The last reported auction record for the coin was $515,500 in March 2008, acccording to Cabrera. "
The history of the $20 St. Gaudens is if fascinating to most coin collectors as well as investors in numismatics. In 1907 $20 High Relief, Wire Rim issue was a revision of Saint-Gaudens' Ultra High Relief double eagle, as the latter proved impractical for circulation strikes because it required seven blows from a 150-ton medal press to fully articulate the design. The "High Relief" could be struck after just three blows of the medal press. Over 12,000 High Relief twenties were struck by the end of December, 1907.
A so called "Wire Rim" protruded around the outer extremity in the coins, which resulted from excessive metal flow between the die face and collar during the striking process. Unlike today's collectors who consider the Wire Rim to be a highly collectible variety, Mint officials considered it to be a striking deficiency. This "flaw" in the striking process was corrected around mid-December, and subsequent High Relief double eagles possessed what became known as a "Flat Rim."
The High Relief Wire Rim example offered is a supremely preserved, satiny gem of this highly regarded Saint-Gaudens issue. The execution of this design in high relief has, to date, been the ultimate achievement of the coiner's art-a fact widely recognized and reflected in the price of these coins. The design elements on this coin are very well defined, indeed better that what might be expected for the issue. Despite multiple blows, the typical High Relief Wire Rim specimen may display weakness on the stars, on the Liberty and eagle motifs, and the on the tops of the letters. The present coin reveals strong definition in most of these areas. Only small portions of the Capitol building and the eagle's wing feathers exhibit minor softness. A pleasing yellow-gold patina bathes each side, both of which have managed to escape any signs of post-striking impairments, and the radiant, satiny luster has a gleam that is unique to High Reliefs. The overall effect is one of originality and three-dimensionality, giving this spectacular piece more of a look of a medal than a circulating coin. A minute alloy spot beneath the eagle's neck identifies the coin. The Wire Rim feature is uncharacteristically present around virtually the entire obverse, and around a good portion of the reverse. Population: 1 in 69, 0 finer (10/2009). Ex: Trompeter Collection; Morse Collection Pedigree
Park Avenue Numismatics, a Miami based rare coin firm specializing in Ultra Rarities, rare coins and precious metals has handled this date before. "Collectors contact us regularly with Key Date gold coins because of our stellar reputation in this specialized area of the market," Green continued.
Interested buyers and sellers of rare date gold and precious metals can contact the firm Monday through Friday 9am-5est The buying department of Park Avenue Numismatics can be reached via toll free 800-992-9881. Website www.parkavenumis.com offers more than 3,000 PCGS and NGC certified coins on-line.
Media Contact: Bob Green 305-992-9881
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