LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

2067

1907 $20 High Relief PR67 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:140,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1907 $20 High Relief PR67 NGC
<B>1907 $20 High Relief PR67 <img border='0' src='http://www.heritagecoins.com/images/star.gif' width=10 height=10> NGC.</B></I> The existence of proof examples of the MCMVII High Relief is controversial. While the principals at NGC obviously do believe in their existence--witness this incredible Proof 67 <B> S</B></I> Wire Rim specimen, and the 200+ other examples certified at that service--PCGS does not. <BR> The useful reference <I>Proof Gold Coinage of the United States </B></I>by Dr. Robert Loewinger has a section specifically devoted to this topic, and it is worthwhile to reproduce:<BR><BR> According to Breen, the satin Proofs have the following features:<BR>a) Inner borders sharp on both sides.<BR>b) Relief details fully brought up.<BR>c) All berries rounded.<BR>d) All Capitol pillars countable.<BR>e) All tail feathers with clear ends.<BR>f) Edge letters are bolder than on normal strikings in the same collar, with horizontal striations between them.<BR>g) Only a minor trace of knife-rim.<BR>The existence of satin Proof coins is controversial. NGC recognizes this High Relief Proof but PCGS does not.<BR>Listed below are the criteria used by NGC to distinguish Proof examples of the High Relief edition of the Saint-Gaudens Double Eagle from Business Strikes:<BR>1) Extreme sharpness in all details, both at the centers and toward the peripheries.<BR>2) The complete absence of die erosion or distortion.<BR>3) Numerous, raised die-polishing lines on both sides. These appear in a random, swirling pattern. While also evident on currency strikes, these are particularly bold on Proofs.<BR>4) Uniformly satiny surfaces, without any of the radial flowlines that produce conventional Mint luster.<BR>5) A build-up of metal just inside both borders, though especially evident on the reverse. This appears as a slightly raised ridge forming a concentric circle with the coin's border. It probably resulted from the extreme compression to which the Proofs were subjected by additional strikes.<BR><BR> (As an aside before we address some of the identifying criteria above, one must mention that, no matter how many times one admires these lovely pieces, one can always make new discoveries: Observe how the artist has conveniently separated the Roman numerals date, MCMVII, into comprehensible chunks through the use of separating dashes, thus: M-C-M-VII. They are similar to the periods or dashes that also separate and punctuate UNITED STATES OF AMERICA and TWENTY DOLLARS. The feature appears on both proofs and business strikes. One wonders how many students of the series have actually noticed it in the past.)<BR> A close and extensive examination will lead the observer to the following conclusions about the coin:<BR> --It is unmistakably and inescapably a proof, and shows numerous distinctive characteristics that separate it from the Gem Mint State piece that the present cataloger (GH) is using for comparison.<BR> --The detail on the proof coin is noticeably sharper than on the Mint State piece. For example, all of the star points are sharp, including those that aim directly toward the rim. The Capitol pillars are countable, although they are not sharp. This occurs on both proofs and business strikes. The proof shows sharpness on Liberty's toes and sandals that is much superior to the business strike.<BR> --The noted buildup of metal is prominent on both sides of the present proof. The difference in two or three squeezes for business strikes, compared with six or seven for proofs, results in the extra pressure in the center as compared to the radial areas that produces the extra metal.<BR> --While the lower tail feathers on the proof are not incredibly sharp, they are mentionably sharper than those on the business strike. The prominent die polishing that is seen in that area has somewhat obscured the detail. However, the pervasive die polishing is also seen throughout the coin, expectedly more deep in the fields than on the devices, and a conclusive identifier of this coin as a proof. One especially notable area of die polish is on the obverse, in the field just left of Liberty's flowing hair and extending downward to the top rays of the sun, where numerous raised, swirling die lines from polishing can be seen. Another area is noted in the right obverse field, below the olive branch and intermingled with the sun's rays. The Gem business strike, unsurprisingly, shows no such die polishing on either side. <BR> --The proof version shows none of the radial flowlines that would be responsible for conventional mint luster.<BR> We would be remiss if we failed to mention the difference in surface preservation between the two examples. While the business strike, albeit a Gem, shows a few light contact marks that are consistent with an MS65 assessment, the present PR67 <B> S</B></I> piece shows--again, as expected--a complete absence of the tiny marks that one would undoubtedly see on a circulation strike. The proof coin shows a clear intention that these coins would maintain their "special" status as collectors' versions of the only readily obtainable High Relief version of Augustus Saint-Gaudens' now-classic design, the most beloved in all U.S. numismatics. <BR> This PR67 <B> S</B></I> is one of only three coins so graded at NGC, and four pieces exceed it at NGC: one PR68, one PR68 <B> S</B></I>, and two PR69s (7/07). This makes this piece, of course, high in the Condition Census and among the finest proofs obtainable.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>\)
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