Overview

The Ultra High Relief Double Eagle Gold Coin is a unique coin introduced in January 2009 by the US Mint to commemorate an unique, unrealized design from 1907.   In 1905, President Roosevelt personally invited Saint-Gaudens to redesign American coinage, specifically U.S. gold pieces. What emerged has been called the most beautiful coin ever minted in the U.S. and perhaps the world — the 1907 $20 gold piece, also known as the Double Eagle.

There were four variations of the 1907 Double Eagle. The first two attempts were considered ultra high relief (also referred to as extremely high relief), a 34-mm version and a 27-mm version, both with Roman numerals. The coining process for the 34-mm version was too arduous, and the United States Mint would later find out it had no authority to mint the 27-mm version. Its third attempt reduced the relief, and was struck in 34-mm version with Roman numerals. Because its relief was reduced, it did not require as much metal flow to fill the design, and was more suitable for mass production and approximately 12,000 were made. Finally, in December 1907, a fourth variation was produced, an even lower relief 34-mm version, with Arabic numerals.

Despite Saint-Gaudens’ artistic masterpiece, the minting process of the day was not conducive to high relief coins, which he and Roosevelt specifically desired. As a result, despite being considered one of the most beautiful gold pieces ever minted, Saint-Gaudens’ full vision for the production of an ultra high relief coin was never realized. Until now…

Images

These images are taken from the official US Mint website:

Specifications

Through 21st century technology and the vision of Director Ed Moy, original Saint-Gaudens coin plasters were digitally mapped by the United States Mint. Using the digital design and die-making process, the Saint-Gaudens sculpture — in ultra high relief — has been updated to reflect the year 2009, an additional four stars to represent the current 50 states, and the inscription “In God We Trust,” which was not on the 1907 version.

Additionally, a small border was added for a more consistent edge. The 2009 coin will be made of 99.99% 24-karat gold, similar to the recent US Gold Buffalo coinage. Pure 24-karat gold is much more malleable than 22-karat or 90% gold coins, making it better material for striking the ultra high relief.

The 2009 Ultra High Relief Double Eagle Gold Coin will only be issued in one year, 2009, as a unique collectible for those who enjoy high quality, unique gold coins.

Details for Collectors

It's an open question whether or not the 2009 Ultra High Relief Double Eagle Gold Coin will see increased value for collectors.  There are at least two variables that will challenge the long term value of the coin.

First, the coin is debuting at a time of economic crisis, which occurs at a time when gold is nearing record highs. (As of Feb 1, 2009, gold was trading at over $915/oz.)  Depending on the your view of the long term direction of gold prices, this may either be an additional opportunity for appreciation (if you believe the future will feature inflation and a rise in gold prices), or a risk of loss (if you believe that these are temporary highs for gold).

Second, the coin is debuting at a time of record demand for gold coins.  The US Mint has had trouble meeting demands for US Eagle coins of all precious metals (silver, gold, platinum), and expects delivery times of up to 6-9 months for the new 2009 Ultra High Relief Double Eagle Gold Coin.  Early reports show that the US Mint sold over 20,000 ultra high relief double eagles in the first four days alone.  High mintage may mean a lower long term value for the coin, since it makes the coin more common.

Updates

The coin went on sale on January 22nd, at 12:00 PST for a price of $1189.  Due to the rising price of gold, it has already been adjusted once to $1239. 

This guide will be updated periodically to reflect up-to-date mintage numbers and pricing.