Gorgeous Near-Gem quality on a coin that was made more than a 100 years ago! This first year of issue coin was minted during what is defined as the 'Renaissance of American Coinage'.
Minted from 1907-1933, these $20 Saint-Gaudens Gold Double Eagle coins contain .9675 oz of gold. This first year issue of this design has been authenticated and graded as Near-Gem Brilliant Uncirculated MS-64 by NGC. This Gold Double Eagle was America's last circulating $20 Gold coin and displays unmatched beauty and rich history with outstanding luster. This coin was originally designed as a high relief and looked more like a medal, but was lowered for a number of reasons namely because they did not stack well and because they had to be struck multiple times which wore out the dies quicker than normal. Saint-Gaudens had to redesign the coin by lowering the relief so that these coins could be easily stacked and struck. This coin is considered by many to be the most beautiful American coin ever produced. 1907 Saints and some 1908 Saints do not bear the motto "In God We Trust" as it was not required by law to use this motto on coinage. President Roosevelt even defended Saint Gaudens' omission by stating that it was a profane use of God's name.
In the early 1900s, President Theodore Roosevelt called for a renaissance in American coinage. Unhappy with the current designs on American coins, he called upon sculptor Augustus Saint-Gaudens to head the redesign of America’s coins. Out of this renaissance came the Saint-Gaudens Double Eagle Gold coin. One of the most sought after and beautiful coins ever produced by the United States Mint, this Double Eagle was minted from 1907 until 1933. The design was later reprised in 1986 when the mint issued the new Gold Eagle bullion coin.
In 1933, President Franklin Roosevelt issued Executive Order 6102 which forbade the “hoarding of Gold Coin, Gold bullion and Gold certificates within the continental United States.” As a result of this order, the possession of monetary Gold owned by any person, partnership or company was criminalized, Gold coins were pulled out of circulation and almost all Gold was exchanged for paper money. Exceptions were made for collector coins and jewelry. As the Great Depression ravaged the economy, it was believed that “hoarding” Gold stalled economic growth and worsened the economic state of the country. In order to combat this, it was ordered that all Gold be turned into the U.S. Mint to be melted down. The belief was that if Gold could not legally be owned, it could not be redeemed, therefore ending the constraints on the Federal Reserve. Thus, the United States abandoned the Gold standard.
The following year, President Roosevelt signed the Gold Reserve Act of 1934. This act required that all Gold (except for jewelry and collector’s coins) and Gold certificates held by the Federal Reserve be sold to the United States Treasury. The law also changed the nominal price of Gold from $20.67 per troy ounce to $35.00 per troy ounce. Because of this, foreign investors flocked to export their Gold holdings overseas to the United States and the dollar devalued to spark inflation. The increase in the money supply increased real interest rates and encouraged more investments in durable goods. After the Gold Reserve Act, inflation drastically decreased from -9.8 percent to 2.3 percent and has not dropped below -2.1 percent since.
Because of Executive Order 6102, Gold coins produced by the U.S Mint prior to 1933 are extremely rare. The coins that remain today have withstood the test of time and survived a governmental expropriation of Gold. These coins are a beautiful testament to the art and history of the coins themselves and the United States as a whole.