Extremely Rare $20 Gold Coin to Auction June 29 in Baltimore – Current Bid over $1.8 Million

Stack’s Bowers Galleries, a subsidiary of Spectrum Group International, Inc. (SPGZ.PK) (“SGI”) and the Official Auctioneer of the Whitman Coins and Collectible Expo in Baltimore, is proud to present the blockbuster MCMVII (1907) Ultra High Relief Saint-Gaudens double eagle offered as lot 4438, with a current bid of $1,810,000 24 hours in advance of the auction. The final selling bid is expected to reach well into the millions of dollars for this single $20 denomination gold coin. The coin is the single finest certified example of the type in the absolutely stunning grade of Proof-69 (PCGS); no examples have been graded finer than this coin at either of the major grading services. As struck and pristine, the surfaces of this amazing Ultra High Relief double eagle are free of so much as a single trivial blemish. Swirling die polish lines in the fields are characteristic of the manner in which these coins were produced, and radiant yellow gold surfaces are aglow with a stunning satin to modestly semi-reflective finish. The coin is fully defined over even the most intricate elements of the design, and it is a remarkably beautiful specimen.

MCMVII (1907) Ultra High Relief Saint-Gaudens double eagle offered as lot 4438 in the Stack's Bowers Galleries June Baltimore Auction, June 29, 2012. (Photo: Business Wire)

The design of the Ultra High Relief was born out of the collaboration of President "Teddy" Roosevelt and sculptor Augustus Saint-Gaudens, whom the president commissioned to create coinage of great beauty, thereby circumventing the Mint’s chief engraver at that time, Charles E. Barber. It was President Roosevelt who, having delighted in the gold coins of Alexander the Great, suggested the idea of creating coins in high relief with a raised rim. Saint-Gaudens conceived of the obverse and reverse designs and, lo and behold, the coin often hailed as having the most beautiful of all United States coins was born.

The general consensus among numismatic scholars is that only about 20 of these Ultra High Relief pieces were produced. Stack’s Bowers Galleries is thrilled to present the finest-certified example in PCGS Proof-69 for sale at public auction. Acquiring a coin of this stature would be the crowning achievement for any serious collector of U.S. gold coins and would certainly be the centerpiece of a truly spectacular collection.

The coin is slated to be sold on Friday, June 29, as part of the Official Auction of the Baltimore Whitman Coin and Collectibles Expo in Baltimore, so be sure to mark your calendars! This is an opportunity to acquire one of the most famous American rarities in absolutely superb condition. Complete catalogs for the June 2012 Official Auction of the Whitman Coin and Collectibles Expo are available by request by calling 800.458.4646, and online at www.stacksbowers.com. Auction and lot viewing will take place in the Stack’s Bowers offices in New York and California by appointment, and at the Baltimore Convention Center June 25-29, 2012 – visit the Stack’s Bowers website for current schedule information.

About Stack’s Bowers Galleries

Stack's Bowers Galleries, a division of Fortune 500 Company Spectrum Group International Inc. (SPGZ.PK), was launched in January 2011, combining the extraordinary histories of Stack's, the oldest rare coin auction and retail company in America, with Bowers and Merena Auctions, one of the world’s pre-eminent auctioneers of rare coins and paper money. The two companies unite to share a combined legacy that spans more than 100 years, and includes the cataloging and sale of many of the most valuable collections to ever cross an auction block – the John. J. Ford, Jr. and Louis E. Eliasberg, Sr., collections, the Harry W. Bass, Jr., Collection, and the Norweb Collection, to name just a few. Topping off this amazing numismatic history is the inclusion of the world record for the highest price ever realized at auction for a rare coin, the legendary 1933 Saint-Gaudens Double Eagle that realized an astounding $7.59 million (sold in partnership with Sotheby’s). The company is headquartered in Irvine, California, with offices in New York, New Hampshire and Hong Kong. Stack’s Bowers Galleries is the Official Auctioneer for several important numismatic conventions, including the ANA World’s Fair of Money and ANA/PNG Pre-Show auctions, and the Whitman Coin and Collectibles Expos in Baltimore, three times yearly, and also Philadelphia.