By Numismatic News November 30, 2009

Park Avenue Numismatics has sold the finest known example of the 1907 $20 Saint-Gaudens High Relief Wire Rim graded MS-69 PCGS with Certified Acceptance Corporation approval for more that $600,000.

“Arguably the most desired of all $20 U.S. gold coins, this gem was the most incredible high relief I’ve ever seen in my 25 years as a rare coin dealer,” said Bob Green, President of Park Avenue Numismatics. “It holds a place in numismatic history with a pedigree to the famous Ed Trompeter collection.”

Park Avenue Numismatics has bought and sold many of the rarest $20 Saint-Gaudens double eagles over the last two decades and was awarded recognition by PCGS for assembling the Finest Known complete set of Saint-Gaudens, including the scarce 1927-D in 2005.

Carlos Cabrera, executive vice president and managing director of Park Avenue, said the last reported auction record for the coin was $515,500 in March 2008.

The 1907 $20 High Relief, Wire Rim issue was a revision of Saint-Gaudens’ Ultra High Relief double eagle, as the latter proved impractical for circulation strikes because it required seven blows from a 150-ton medal press to fully articulate the design. The “High Relief” could be struck after just three blows of the medal press. Over 12,000 High Relief $20 were struck by the end of December, 1907.

A so called “wire rim” protruded around the outer extremity in the coins, which resulted from excessive metal flow between the die face and collar during the striking process. Unlike today’s collectors who consider the wire rim to be a highly collectible variety, Mint officials considered it to be a striking deficiency. This “flaw” in the striking process was corrected around mid-December, and subsequent High Relief double eagles possessed what became known as a “flat rim.”

Park Avenue Numismatics, a Miami based rare coin firm specializing in ultra rarities, rare coins and precious metals via toll free 800-992-9881. Web site www.parkavenumis.com offers more than 3,000 PCGS and NGC certified coins online.

More Resources:

• Standard Catalog of United States Obsolete Bank Notes 4-CD Set, 1782-1866

• Fascinating Facts, Mysteries & Myths About U.S. Coins

• 2010 Standard Catalog of World Coins 2001-Date, 4th Edition

• State Quarters Deluxe Collector's Folder