United States Mint to Recreate a Masterpiece

[DC Dawg]

The following Press Release was posted by the US Mint today:

 

March 13, 2008

 

United States Mint to Recreate a Masterpiece

 

WASHINGTON - [font:Times New Roman]United States Mint Director Ed Moy announced at a meeting today of the Citizens Coinage Advisory Committee that the agency plans to recreate what many have called the nation's most beautiful coin ever minted-Augustus Saint-Gaudens' original ultra-high relief Liberty $20 Gold Piece. The design will be featured on a collectible 24-karat coin intended for sale to the public in 2009. In preparing to mint this coin, the United States Mint will test the development of the second variation of Saint-Gaudens' design, the 27-millimeter, ultra-high relief coin with Roman numerals.

 

"We want to spur the highest level of artistic excellence in American coin design," said Director Moy. "Recreating thousands of Augustus Saint-Gaudens' ultra-high relief Double Eagles will be a defining moment in American coinage."

 

President Theodore Roosevelt selected Augustus Saint-Gaudens to improve the designs on the nation's coinage, and the sculptor's first task was redesigning gold coins.

 

Maintaining the full artistic integrity of the Saint-Gaudens design was an arduous undertaking in 1907. The United States Mint's first attempt-a 34-millimeter ultra-high relief coin with Roman numerals-required the coins to be ‘squeezed' into a press and annealed numerous times. The coining process was impractical for mass production, and approximately 19 coins of this variety are known to exist. These coins are now mostly in private ownership.

 

The United States Mint's second attempt to produce Saint-Gaudens' design-a 27 millimeter, ultra-high relief coin with Roman numerals-was in fact two $10 Gold Eagle planchets melded together. The resulting coins were twice as thick. The United States Mint had no authority to strike coins of this specification in 1907, so it melted all but two or perhaps three of these coins.

 

The United States Mint's third attempt-a high-relief, 34-millimeter coin with Roman numerals-produced a coin with reduced relief that required less metal flow to fill the design and was more practical for mass production. Approximately 12,000 coins were made for collection. Later, in 1907, an additional 361,000 coins with Arabic numerals and a lower relief were produced for circulation.

 

None of the 1907 variants bore the inscription, "In God We Trust." The inscription, added in 1908, appears on the coin's reverse directly above the sun. Production of the Saint-Gaudens $20 Gold Double Eagle continued until 1932. Production of the 1933 $20 Gold Double Eagle ceased, and only one was ever lawfully issued - some 70 years later. The new coin will have the inscription "In God We Trust" in the same position as 1908, when the inscription first appeared with this design.

 

A variation of the Saint-Gaudens Double Eagle has been in production for the American Eagle Gold Coin product line since 1986.

 

Contact: Press inquiries: Michael White (202) 354-7222

Customer Service information: (800) USA MINT (872-6468) [/font]

[jtryka]

Sweet! just 2 years too late though. Hopefully gold won't be $10,000 an ounce by then, so I can buy one. I've seen the 1907 pattern at the Smithsonian, and it is pretty cool.

[jgrinz]

I would like to see it be a limited production COMMEMORATIVE type coin though -

 

[EZ_E]

If the US Mint would limit mintage to between 10 and 20 thousand then it will be an extremely special coin for all generations. Even if they make a godzillion then it will still be cool. I'll buy one provided that the price of gold is reasonable.

[gmarguli]

It'll look like . The Mint has the extraordinary ability to take a beautiful design and reduce it to blah and then have the surfaces finished in a dull lifeless coat or shining like a headlight. I just have no faith that they can produce or reproduce a coin in an eye appealing manner.

[pendragon1998]

Tell us what you really think, Greg

[DC Dawg]

It'll look like . The Mint has the extraordinary ability to take a beautiful design and reduce it to blah and then have the surfaces finished in a dull lifeless coat or shining like a headlight. I just have no faith that they can produce or reproduce a coin in an eye appealing manner.

I don't know... I think they did a wonderful job with the 24k Buffalo!

 

Scott

[EZ_E]

re: gold buffalo

 

I agree. It is a beautiful coin. But, since it is just a bullion coin, it will never have the same status as the classics.

[TomB]

It'll be a boatload of money and then some. Additionally, the Mint appears to have mastered the technical side of coin production at the expense of the artistic side and I am afraid that these might look rather odd and hollow to those of us familiar with the originals.

[pendragon1998]

So now there will be three one ounce gold coins being produced by the mint? They're going to oversaturate their market.

[cpm9ball]

If the US Mint would limit mintage to between 10 and 20 thousand

 

AND..................allow only one sale per household or business.

 

Chris

[DC Dawg]

So now there will be three one ounce gold coins being produced by the mint? They're going to oversaturate their market.

I suspect that since this would be a replacement for the Buffalo in the 24-karat gold program. The law (Public Law 109-145, 31 U.S.C. 5112(3)(A)) says, "After the [initial] 1-year period... the Secretary may—after consulting with the Commission of Fine Arts, and subject to the review of the Citizens Coinage Advisory Committee, change the design on the obverse or reverse of gold bullion coins struck under this subsection."

 

Moy, as Director of the Mint, acting on behalf of the Secretary, introduced the idea to the CCAC. If they approve the concept, it will be sent to the CFA for consideration. If the CFA approves the concept, Moy will send a letter to Secretary Henry Paulson for final approval. If Paulson agrees, the 2009 24-karat gold bullion coin will be modeled after the Saint Gaudens high relieve double eagle with the motto on the reverse. The Buffalo design will be retired.

 

This is interesting. Either Moy is building a legacy or plans to try to stay after the change of administrations. Technically, the Director of the US Mint is a 5 year appointment. However, he serves at the pleasure of the president. If the next president wants his or her own person, then this will definitely be an interesting legacy for Moy.

 

Scott

[FLCoins-migration]

I really like the idea of changing the 24k coins every 2-3 years and retiring the old design instead of keeping it the same like the eagles.

 

Bravo if true.

[astrostu]

If only they'd actually go with the original design and not include "IN GOD WE TRUST," it'd be a real ...

[jtryka]

From what I read in the original post, the coins will NOT be to the specifications of the HR or UHR Saints that we all are familiar with, thie coin will be to the specification of an experimental piece done by the mint with the diameter of an eagle ($10 gold) but with twice the thickness. This is more than simply changing the obverse and reverse designs of the buffalo, as they would also be changing diameter and thickness. If done right, this could be an outstanding collector piece, but I am not holding my breath.

 

Here is a link to the one in the Smithsonian: Experimental Double Eagle

[BillJones]

It'll look like . The Mint has the extraordinary ability to take a beautiful design and reduce it to blah and then have the surfaces finished in a dull lifeless coat or shining like a headlight. I just have no faith that they can produce or reproduce a coin in an eye appealing manner.

I don't know... I think they did a wonderful job with the 24k Buffalo!

 

Scott

 

I think that the 24K Buffalo is a nice coin although others might disagree because of the treatment of the fields. What made it work was that the reverse was far closer to the original coin that the Buffalo dollar. The Buffalo silver dollar commemorative DOES look like *spoon* IMO. It is a prime example of how the mint found a way to take a classic design and make look odd and awkward.

 

Somehow I doubt that this new version of the High Relief $20 will have the grace and charm of the old one. There will probably be some aspect of it that will look wooden and mechanical. At any rate, regardless of what they do with it, it will be one more example of how the U.S. mint is now a profit center for the government. There are simply too many new coins, and collector fatigue is already starting to take hold.

 

[Conder101]

Thanks Scott, I was wondering where they thought they were getting the authorization to create such a coin. I though they would need new lagislation but they don't.

 

Under UCS 31 Sec 5112 (a) (11) the Secretary has the authority to change the size specification of the 999 fine gold coins at will

 

(11) A $50 gold coin that is of an appropriate size and thickness, as determined by the Secretary, weighs 1 ounce, and contains 99.99 percent pure gold.

 

And under sec 5112 (q) (3) (A) he can change the design after the first year once he consults the CFA and CCAC. The two groups do NOT have to approve, merely be consulted.

 

(3) Subsequent designs.— After the 1-year period described to in paragraph (2), the Secretary may—

(A) after consulting with the Commission of Fine Arts, and subject to the review of the Citizens Coinage Advisory Committee, change the design on the obverse or reverse of gold bullion coins struck under this subsection;

 

With those two sections of the law they can change the size and design at will.

[PerryHall]

With the extra double thickness and high relief, will they fit in the current slabbs?