LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3796

1907 $20 High Relief, Flat Rim MS68 PCGS. The Flat Rim

Currency:USD Category:Coins & Paper Money / US Coins Start Price:230,000.00 USD Estimated At:1.00 - 2.00 USD
1907 $20 High Relief, Flat Rim MS68 PCGS. The Flat Rim
<B>1907 $20 High Relief, Flat Rim MS68 PCGS.</B></I> The Flat Rim variant of the 1907 High Relief was produced to solve the problem of a wire rim. This "problem" was created by an extruded rim of metal, or "fin," caused by a tiny bit of gold that squeezed between the die and segmented collar from repeated blows of the 150-ton medal press employed to strike the coins. Most of the first two-thirds of High Relief double eagles suffered from the "fin," and mint officials considered it both an aesthetic defect and a legal difficulty: The fin quickly abraded off the coins, leaving an underweight gold piece. The "fin" was certainly not considered an aesthetic element, as commonly regarded by collectors today. The milling procedure and planchet size for the double eagle blanks were slightly modified to correct this small flaw about December 16, according to numismatic researcher Roger W. Burdette. <BR> Flat Rim coins are several times scarcer than their Wire Rim counterparts, but they remain an underrated and largely underappreciated variant of the High Relief. Even though much of the original mintage was saved by collectors, after nearly 100 years most are in the lower to middle Mint State grades, or they show signs of circulation. Some were doubtless carried as pocket pieces.<BR> After examining hundreds of High Relief twenties, we have observed that Wire Rim pieces do not necessarily have a complete wire rim, and conversely Flat Rim pieces may show traces of a localized wire rim. It is generally accepted that about 33% (the final 4,000 pieces or so out of the original mintage of more than 12,000 coins) of the High Reliefs minted were of the Flat Rim variety; however, their survival ratio is much lower, with probably no more than 20% to 25% of the Flat Rims known today. Another possibility for the lower survival rate is that perhaps the conventional wisdom's estimate is a bit off. It might be simply that the Flat Rim High Reliefs were released later, and thus were less of a novelty.<BR> A strong strike is a given on High Relief double eagles, since they were struck with multiple blows with a hydraulic medal press. Even so, a few pieces still exhibit slight weakness on the figure of Liberty, the highest parts of the eagle's wing on the reverse, and the tops of the peripheral lettering. The dies were finished with myriad tiny lines and swirls that are particularly visible on early strikes. According to Q. David Bowers, "The surfaces are somewhat grainy or matte, rather than frosty or lustrous." High Reliefs do, however, usually show lovely satinlike luster that is usually a bright yellow-golden color.<BR> This piece is no exception, boasting the usually seen satiny luster. The striking details, however, are exceptionally--and phenomenally--bold. The Capitol building, stars, olive branch, and the Liberty and eagle motifs display excellent definition. The surfaces are immaculately preserved over both sides, exhibiting no signs of mishandling. A barely discernible luster graze on the top rear of the eagle's left wing is mentioned for accuracy. As noted earlier, some Flat Rim pieces show traces of a localized Wire Rim. Such is the case with the present coin, where some wirelike remnants are noted along the right obverse rim. Another coin from the Morse Collection that is among the finest known. Population: 1 in 68, 0 finer (11/06).<BR><I>Ex: The Phillip H. Morse Collection of Saint-Gaudens Coinage (Heritage, 10/05), lot 6527, which realized $264,500.</B></I><BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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