1907 Saint-Gaudens Double Eagle (High Relief, Wire Rim)

The 1907 Saint-Gaudens Double Eagle in High Relief is widely regarded as the most beautiful coin ever produced by the United States Mint. Designed by Augustus Saint-Gaudens at the personal request of President Theodore Roosevelt, this $20 gold coin represents the pinnacle of American numismatic art. The Wire Rim variety, distinguished by a thin knife-edge of gold extending around the coin's border, is the version closest to Saint-Gaudens' original artistic vision and is among the most coveted coins in all of American numismatics.

With approximately 12,367 coins struck and an unknown number surviving (estimated at 6,000-7,000), the High Relief Wire Rim is scarce but not impossible to own. It sits at the intersection of art, history, and precious metal in a way that few collectibles can match.

The Story Behind the Coin

Theodore Roosevelt believed American coinage was artistically embarrassing compared to the coins of ancient Greece and Rome. In 1905, he commissioned Augustus Saint-Gaudens, the most prominent sculptor in America, to redesign the nation's gold coinage. Roosevelt wanted coins that would be worthy of a great nation, and he found in Saint-Gaudens a kindred spirit who shared his vision of elevating everyday objects to the level of high art.

Saint-Gaudens designed a striding Liberty figure for the obverse, torch in her right hand and olive branch in her left, with the Capitol building in the background and rays of sun radiating behind her. The reverse featured a majestic eagle in flight over a rising sun. Both designs were executed in extremely high relief, meant to be struck multiple times to bring up the full sculptural detail.

The Mint struggled with production. Chief Engraver Charles Barber, who resented the outside commission, argued that the high relief design was impractical for mass production. He was not entirely wrong. Each coin required multiple strikes on a specially modified press, making production painfully slow. The coins also did not stack properly for banking use because their high-relief surfaces prevented flat stacking.

Saint-Gaudens died in August 1907, months before his coins entered circulation. The Wire Rim variety, struck first, features the highest relief of any version. The rim is so thin and sharp that it rises to a wire-like edge. A second variety, the Flat Rim, was struck after minor modifications reduced the rim height. Both are classified as "High Relief" and are distinguished from the standard (low relief) coins that replaced them for mass production later in 1907.

What Makes It Collectible

Artistic masterpiece: No other American coin approaches the sculptural beauty of the High Relief Saint-Gaudens. The coin transcends numismatics and enters the realm of fine art.

Presidential commission: The direct involvement of Theodore Roosevelt in the coin's creation adds historical weight. This was a president who cared deeply about aesthetics and used his office to improve the visual culture of the nation.

Gold content: Each coin contains 0.9675 troy ounces of gold. At current gold prices, the melt value alone exceeds $2,800, providing a floor that limits downside risk.

Limited production: Approximately 12,367 pieces were struck, making this a genuinely scarce issue by any standard.

Wire Rim variety: The Wire Rim is the earliest and most dramatic version of the High Relief design. The knife-edge rim is a tangible connection to Saint-Gaudens' original concept.

Condition Grading Guide

The High Relief Saint-Gaudens has specific grading characteristics:

Grade	Description	Key Diagnostics
EF-40 to EF-45	Light wear on high points	Wear on Liberty's knee and breast
AU-50	Trace wear	Luster in protected areas
AU-55	Minimal wear	Most luster intact
AU-58	Near uncirculated	Only slightest friction on knee
MS-60 to MS-62	Uncirculated, contact marks	Bag marks, full luster
MS-63	Choice uncirculated	Moderate marks, good eye appeal
MS-64	Near gem	Light marks, strong eye appeal
MS-65	Gem	Minimal marks, outstanding
MS-66+	Superb gem	Virtually flawless

Grading Considerations

Strike characteristics: The multiple-strike production process means most High Relief coins show excellent detail. Weakness, when present, typically appears on the eagle's breast feathers.

Surface marks: The soft gold alloy (90% gold, 10% copper) marks easily. Even mint-state coins often show contact marks from handling and storage. These marks are the primary factor separating MS-63 from MS-65.

Wire rim integrity: On Wire Rim varieties, examine the rim carefully. The thin wire edge is fragile and can be damaged by contact with other coins or improper handling. An intact, complete wire rim enhances value.

Luster quality: Original luster on High Relief coins ranges from satiny to semi-prooflike. Coins with full, original luster are far more desirable than those that have been cleaned or dipped.

Market Values

Grade	Approximate Value
EF-40	$15,000-20,000
AU-50	$18,000-25,000
AU-55	$20,000-28,000
AU-58	$22,000-32,000
MS-60	$25,000-35,000
MS-62	$30,000-42,000
MS-63	$38,000-55,000
MS-64	$55,000-80,000
MS-65	$100,000-175,000
MS-66	$250,000-400,000+

These values reflect the Wire Rim variety specifically. Flat Rim High Relief coins trade at similar but slightly lower levels. Both varieties have shown strong long-term appreciation, with values supported by gold content, collector demand, and the coin's status as a national treasure.

The gold melt value (approximately $2,800) represents only a fraction of the numismatic premium, underscoring that collectors pay primarily for artistry, history, and condition rather than metal content.

Authentication

Given the values involved, authentication is critical:

Professional certification: Any High Relief Saint-Gaudens should be certified by PCGS or NGC. The investment in certification ($50-150) is trivial relative to the coin's value and provides essential protection against counterfeits.

Wire Rim vs. Flat Rim: The distinction is based on the rim profile. Wire Rim coins have a thin, knife-like edge that extends slightly beyond the field. Flat Rim coins have a broader, flatter rim. Both services note the variety on their holders.

Counterfeit detection: Sophisticated counterfeits of High Relief Saint-Gaudens exist, including cast copies and die-struck forgeries from Asia. Weight (33.436 grams), diameter (34mm), and specific gravity testing can detect most fakes, but professional authentication is the safest approach.

Surface analysis: Original coins show die-flow characteristics consistent with multiple striking. The relief should transition smoothly from the field to the highest design points.

Storage and Preservation

High-value gold coins require premium care:

• Store only in certified holders (PCGS/NGC) or inert capsules

• Keep in a secure location (safe deposit box or quality home safe)

• Handle by edges only, over a soft surface

• Never clean or attempt to improve surfaces

• Insure separately from homeowner's coverage (specialized collectibles insurance)

• Document with photographs and certification numbers for insurance purposes

The Bottom Line

The 1907 Saint-Gaudens Double Eagle High Relief Wire Rim is the coin that collectors aspire to own. It represents the highest artistic achievement in American coinage, carries the weight of Roosevelt-era history, and contains nearly an ounce of gold. The Wire Rim variety, as the version closest to Saint-Gaudens' original sculptural vision, holds a special place among special coins.

While prices start in the five-figure range, the coin has demonstrated strong long-term value appreciation and carries intrinsic gold value as a backstop. For collectors who can make the investment, the High Relief Wire Rim delivers a combination of beauty, history, and prestige that no other American coin can match.

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