While the sun never set on the British flag in the 19th century, the 20th century was definitely “The American Century.” After the assassination of William McKinley in 1901, President Theodore Roosevelt typified the American spirit: young, vibrant, and energetic. Roosevelt’s interest in the appearance of America’s coinage was not merely that of a collector or enthusiast of coinage.

It is not an overstatement to say that Roosevelt had a clear idea of the role that the United States would play in the 20th century. To that end, he sought a new appearance for American coinage, one that would project to all the nations of the world the vision and dynamism of the United States. Just as mint officials from the 1790s understood the importance of the exact weight of all silver and gold coins and how that exactness affected the acceptance of U.S. coins abroad, Theodore Roosevelt understood the importance of the appearance of American coins.

To that end, he challenged America’s foremost sculptor, Augustus Saint-Gaudens, to alter the coinage then in circulation which Roosevelt considered to be artistically of “atrocious hideousness.” In 1905, Roosevelt and St.Gaudens first met to discuss the possibilities of producing coins with high-relief details in the manner of the ancient Greeks. The result was the spectacular coin at hand.

Ultra High Reliefs, as they are now called, were struck seven times on a medal press in order to fully bring up all the details engraved into the dies. In addition, they were annealed between strikings, a process that heated the coin to a cherry-red color and then cooled in a weak solution of nitric acid. The result was a coin that had a surface of nearly pure gold and which gives Ultra High Reliefs an even more distinctive appearance.

Each side is bright, shimmering pure gold with no variation between fields and devices. The Ultra High Relief transcends terms such as “satiny” or “frosted,” when discussing the finish. It is simply pure, glittering gold. Undoubtedly this contributes to the popularity and desirability of the 19-20 coins that are known from the original 24 which were produced (only 13 are listed in the current certified population reports of NGC and PCGS ). But its desirability goes far beyond this.

The lore of the Ultra High Relief includes the meticulous striking conditions under which these pieces were produced, their production by presidential order, and the time spent to strike each coin. This is essentially the full embodiment of the artist’s original conception and the 24 coins were distributed to officials and dignitaries who, it is said, were suitably impressed by their sheer magnificence. Alas, the time and energy needed just to strike these coins was less than practical for high-speed mint production, let alone the fact that they were unwieldy and would not stack like other coins.

The design was modified to what is now known as the “High Relief” and some 11,250 coins were produced before again succumbing to practicality and commerce and culminating in the “Low Relief” (virtually flat) coin which was produced at the end of 1907 and remained essentially in production, with minor variations, through 1933.

The Ultra High Relief was the first coin to break the $200,000 price barrier and that was in the Ullmer Sale in 1974. (What is a $200k house from 1974 worth today?). It has few peers in terms of desirability and none that compare in historic or numismatic importance. Its only rival is the 1933 double eagle, bookends in this widely collected series, and the only twenty dollar piece that is more valued than the Ultra High Relief–but then, only one 1933 is legal to own—— for now.

According to the NGC Census and PCGS Population Report, this is the only PR69 in existence. (The NGC Census Report shows another PR69, but this is the same coin, apparently the flip was never returned to NGC and so the duplicate entry remains).

The significance of this coin in American numismatics cannot be overstated, yet despite its hefty value, it may still be underrated.

All honest debates aside about which is the most important American coin, there is no doubt that this specimen would appear in everyone’s top 5 list and many would argue that it should probably rise above others of a more spurious or clandestine origin such as the 1804 dollar or 1913 Liberty nickel. As mentioned before, the 1933 is the only double eagle of greater value, but the display of no less than 10 other specimens at the 2006 ANA Convention in Denver presents an ominous specter for the future value of the hitherto “world’s most valuable coin.”

Thus it is entirely within the realm of possibility that in the very near future, this magnificent piece could establish itself as the “Holy Grail” of American Numismatics!

Offered at $5.2 Million

Please direct ALL inquires directly to Bob Higgins at Certified Assets (www.certifiedassets.com) or call 800-999-7285