1907 Ultra High Relief Saint-Gaudens Double Eagle Value and Price Guide

President Theodore Roosevelt hated American coins. He called them "artistically of atrocious hideousness" in a 1905 letter and set out to fix the problem by commissioning the most celebrated sculptor in America, Augustus Saint-Gaudens, to redesign the nation's gold coinage. What Saint-Gaudens created was widely considered the most beautiful coin ever struck by any nation. The problem was that it was almost impossible to manufacture. The original ultra high relief design required nine strikes of the press to bring up the full detail, compared to the single strike used for normal coins. Only about 20 pieces were produced in this form before the Mint gave up and lowered the relief. Those 20 coins became some of the most prized objects in all of numismatics.

Quick Value Summary

The Story

The collaboration between Roosevelt and Saint-Gaudens began in 1905 and lasted until the sculptor's death in August 1907. Saint-Gaudens was already battling colon cancer when he started the project, and he never lived to see his coins enter circulation.

Saint-Gaudens' vision for the $20 gold piece was modeled after ancient Greek coins, specifically the high-relief staters of Alexander the Great. He wanted a coin that felt sculptural, with Liberty striding forward in full figure, torch in her right hand, olive branch in her left, rays of sunlight behind her. The date was expressed in Roman numerals: MCMVII (1907). The reverse showed a flying eagle, soaring over a radiant sun.

The original design was rendered in extremely high relief, with the details rising dramatically from the surface. This created a coin of extraordinary beauty but also extraordinary impracticality. The Mint's chief engraver, Charles Barber, had warned from the beginning that the design couldn't be mass-produced. Each coin required multiple strikes at high pressure, and even then, the coins wouldn't stack properly because the relief was so deep.

The progression went roughly like this:

1. Ultra High Relief (Extremely High Relief): About 20 pieces struck, with lettered edges reading "E PLURIBUS UNUM." These required up to nine strikes each. The relief is so deep that the coin is noticeably thicker than a standard double eagle
2. Ultra High Relief, Wire Edge: A small number struck with a thin wire-like rim created by excess metal flowing between the collar and die
3. High Relief (production version): About 12,367 coins struck with a reduced (but still raised) relief and flat edge. These were released into circulation in December 1907
4. Low Relief (standard production): The design was flattened enough for single-strike production. Millions were coined from 1907-1933

Each step down the relief scale was a compromise between Saint-Gaudens' artistic vision and manufacturing reality. The ultra high relief pieces are the closest to what the sculptor actually intended.

How to Identify It

The differences between the ultra high relief, high relief, and standard versions are visible to the naked eye:

Ultra High Relief (Lettered Edge):

• Dramatically raised design elements. Liberty's figure and the eagle stand well above the field

• Lettered edge: "E PLURIBUS UNUM" in raised letters around the edge

• Date in Roman numerals: MCMVII

• The coin is noticeably thicker than a standard double eagle (about 3.5mm vs. 2.4mm)

• No stars on the obverse (later production versions added stars)

• About 20 known

Ultra High Relief (Wire Edge):

• Same deep relief as the lettered edge version

• Thin wire-like rim from metal squeezing between the die and collar

• Date in Roman numerals: MCMVII

• About 12-20 known (some overlap with the lettered edge count depending on the source)

High Relief (Production, ~12,367 minted):

• Reduced relief compared to ultra high, but still noticeably higher than standard coins

• Flat edge (no lettering, no wire rim)

• Date in Roman numerals: MCMVII

• This is the version most collectors encounter. It's rare but not unobtainable

Standard (Low Relief, millions minted):

• Flat, standard-depth design suitable for mass production

• Date in Arabic numerals (1907, 1908, etc.)

• This is the common version, produced from late 1907 through 1933

Value by Type and Condition

Ultra High Relief, Lettered Edge (~20 known): These are museum-caliber coins. Sales are rare events:

• PR-65 to PR-67: $1,500,000 - $2,500,000

• PR-68 to PR-69: $2,500,000 - $3,500,000

• The record is $2,990,000 for a PR-69 at Heritage Auctions in 2005

• Several examples are in museum collections (Smithsonian, ANS) and will never sell

Ultra High Relief, Wire Edge (~12-20 known):

• MS-63 to MS-65: $250,000 - $400,000

• MS-66+: $400,000 - $600,000

• Less famous than the lettered edge but equally stunning in hand

High Relief, Flat Edge (Production: ~12,367 minted): This is the version that collectors can actually pursue:

• AU-55 to AU-58 (About Uncirculated): $15,000 - $22,000

• MS-60 to MS-62 (Mint State, lower): $18,000 - $28,000

• MS-63 (Choice): $25,000 - $35,000

• MS-64 (Near Gem): $35,000 - $55,000

• MS-65 (Gem): $55,000 - $100,000

• MS-66+: $100,000+

The high relief production version has a robust market with frequent sales. A PCGS MS-65 sold for $78,000 in mid-2025. An NGC MS-66 sold for $132,000 in late 2024.

Known Variations

Beyond the three major types (ultra high/lettered, ultra high/wire, high relief/flat), collectors look for:

• Proof vs. business strike: The ultra high relief pieces are generally considered specimen or proof strikings. The high relief production coins were business strikes, though their quality approaches proof levels

• Wire rim variants within the high relief production: Some high relief coins show traces of a wire rim. These "wire rim" high reliefs command a small premium

• Flat rim high reliefs: The more common variety among the 12,367 production pieces

• 2009 MMIX Ultra High Relief: The US Mint struck a modern version using Saint-Gaudens' original ultra high relief design, in .999 gold (one troy ounce). These retail for $2,500-$4,000 and are a beautiful, affordable way to own the design

Authentication and Fakes

The high relief Saint-Gaudens is one of the most counterfeited US gold coins:

• Weight: An authentic high relief double eagle weighs 33.436 grams. Fakes often miss this precisely

• Specific gravity: Gold has a distinctive density. Tungsten-cored fakes exist but can be detected with precise weighing and measurement

• Die characteristics: PCGS and NGC have extensively documented the dies used for all versions. Authenticated coins will match known die pairs

• Edge details: The lettered edge on ultra high relief pieces must show the correct font and spacing

• Cast copies: The most common fakes are cast reproductions, identifiable by their slightly soft details and often-visible seam lines

For a coin worth $15,000+, professional grading by PCGS or NGC is non-negotiable. For ultra high relief pieces worth $250,000+, provenance research and die variety analysis by a specialist are worth the investment.

Where to Sell

• Heritage Auctions: Handles more high-value US gold coins than any other firm. The clear first choice for ultra high relief pieces

• Stack's Bowers Galleries: Strong competitor with deep expertise in early 20th-century gold

• David Lawrence Rare Coins (DLRC): Specializes in high-end US coins

• Private dealers: For high relief production coins in the $15,000-$50,000 range, established coin dealers offer quick sales at 85-90% of retail

Estimated selling costs for a high relief MS-65 ($55,000-$100,000):

• PCGS/NGC grading: $150-$300 (express tier for declared value)

• CAC verification: $200-$400

• Auction house premium: 5-10%

• Insurance and shipping: $200-$500

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