St.-Gaudens UHR Order Limits Rising

[astrostu]

From The Buzz

 

Six months after the US. Mint began selling the Ultra-High-Relief Saint-Gaudens $20 gold pieces, it will increase the number of coins collectors can order from one coin per household to 10.

 

The new limit becomes effective July 27 at noon Eastern Daylight Time.

 

This step is both logical and expected. Anybody who wanted to get one has had the opportunity buy one since the coins went on sale Jan. 22. Anyone who might have wanted to attempt to corner the market amid the excitement of the initial release has been prevented from doing so.

 

With roughly 70,000 sold, the coin is fairly widely distributed for something priced at $1,289. But in a way it is a ticket into the dreams of the artist, Augustus Saint-Gaudens who died in 1907, and President Theodore Roosevelt. Roosevelt wondered why a great nation at the beginning of the 20th century could not create a coinage to equal the beauty of what was produced over 2,000 years ago in ancient Greece.

 

Collectors know that it wasn’t ability that was lacking. It was bankers and merchants who killed the high-relief idea.

 

These coins are simply impractical. They do not stack. They do not slide easily across the counter. The high points would look vandalized very quickly under such conditions. (And wear reduces the actual gold weight of the coin.)

 

So the original Saint-Gaudens $20 design remained an unsatisfied dream of many collectors for 100 years. Mint Director Ed Moy shared the dream and made it come true.

 

Am I getting too dreamy here as well? Well, a work of numismatic art can do that.

 

There. Back to counting. If you want 10, your wait is nearly over.

[kbsig106]

Great news!

[jtryka]

Good news, perhaps I'll order a second one.

[PerryHall]

Good news, perhaps I'll order a second one.

 

Why? Do you think this will be a good investment? The premium over melt seems too high to me and the mintage will certainly be going up between now and the end of the year so I get the feeling the after market prices will migrate towards melt value. I bought one and enjoy owning it but I doubt it will be a good investment.

[BillJones]

I agree with Perry on this one. The premium over melt is too high, and with a mintage that has already reached 70,000 there are enough to go around given the $1,200 + price tag.

 

I might add that this statement is inaccurate:

 

Collectors know that it wasn’t ability that was lacking. It was bankers and merchants who killed the high-relief idea.

 

To make the original High Relief coins, the mint had to strike them three times and each planchet had been annealed between each strike. The mint had to operate 24/7 when it was producing the largest block of these coins. The cost of production was far higher than it was for a regular relief $20 gold coin at that time.

 

At the time a feasibility study was done for continuing to produce the High relief coins on a regular basis. The footprint of the mint would have had to have been increased to a building larger than the lot on which the mint stood. These coins were not feasible for mass production, which had to reach the millions, period.

 

[PerryHall]

I agree with Perry on this one. The premium over melt is too high, and with a mintage that has already reached 70,000 there are enough to go around given the $1,2000 + price tag.

 

Bill---You may want to drop one of those 0's.

 

Edited to add that they are currently being priced by the mint at $1,289 plus $4.95 shipping.

 

 

 

[astrostu]

Yeah, Bill, that raised a question for me, too, as I'd always read that it was the striking process at the Mint that TR eventually gave in to reducing the relief.

[RareSov]

Excellent !! I'll be saving my dollars to buy at least a couple more before the end of the year if I can ! would take my count to 4 or 5

[PerryHall]

Excellent !! I'll be saving my dollars to buy at least a couple more before the end of the year if I can ! would take my count to 4 or 5

 

You may be able to buy them on the secondary market in a couple of years at close to melt.

[RareSov]

But melt may well be $2000 ?

 

And really.. I doubt it regardless of gold price. Unless of course if dealers buy close to a MILLION of them now and the market is overloaded with them.

 

Obviously I'll be watching the mintages leading up to December. Must remember to do that before committing