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Collectors Rush to Buy UHR $20
2009 Ultra High Relief Saint-Gaudens $20 gold pieceBy Numismatic News
January 29, 2009
2009 Ultra High Relief Saint-Gaudens $20 gold piece

Eager collectors trying to buy the proof 2009 Ultra High Relief Saint-Gaudens $20 gold piece slowed the U.S. Mint's Web site and backed up its 800 number for a time Jan. 22 when the new coin went on sale at noon Eastern Time.

By the end of the day, collectors were e-mailing Numismatic News with reports that they had successfully purchased the coin at the issue price of $1,189 each, with confirmed delivery by Feb. 6.

During the first four days of sales, the Mint said it sold 40,727 of the coins, generating $48.4 million in revenue by noon Jan. 26.

The Mint is limiting orders to one per household during the opening days of the coin's availability to assure the widest and fairest distribution. It might strike up to 300,000 of the coins if collector orders reach that level.

Though it resembles the Saint-Gaudens gold $20, it has a smaller diameter of 27mm and is more than 50 percent thicker than a regular pre-1933 $10 gold piece, which has the same diameter. It contains one troy ounce of .9999 fine gold.

The $20 coin of that size was never produced for circulation. It was the brainchild of Augustus Saint-Gaudens, who in 1907 was attempting to fulfill a dream of President Theodore Roosevelt to create a new American coinage worthy of the ancient Greeks.

High relief and increased thickness were characteristics that proved unsuitable both for mass production and use in commerce.

The gold coin's price changes each week to take into account the fluctuating price of gold. The second week's price was $1,239, effective Jan. 29.





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Comments
On January 30, 2009 David said
I understand the new precious metals pricing structure the Mint has rolled out.  I also understand that my credit card won't be charged until my order is fulfilled.  What I don't understand is what price I'll actually be charged.  Is it the price on the day that I place my order, or is it the price on the day that the Mint finally gets around to fulfilling my order?  Does anyone know?  Please post your response here.  Thanks.
On January 30, 2009 Chris said
I'd like to think it is the price in effect at the time of the order.  That would lock in the sale for the US Mint and ensure the customer knows what price they are paying...  but the Mint has not always played by fair rules, so I can't say.  It is not clear in the pricing of the coin either.
On January 30, 2009 Pat Zawlocki said
My purchase price was $1,189, backordered to Feb 6.   Now that the price has gone up, I went to the U.S. Mint website and signed in to "my account" and the order states the $1,189. price.  I would "think" that if I was paying the new price it would be reflected on my order.   
On January 30, 2009 Greg said
I'd like to think that David's question is correctly answered by
Chris's response.  The Mint is seldom fair in pricing, I was duped into the 10th Anniversary Platinum Set.  Sent it to NGC and obtained a Multi-holder 70 set, which was promptly under valued by $700.00.  I asked NGC if the UHR would be eligible for a First Year of Issue along with the Early Release designation.  I was told NGC will not be using a First Year of Issue designation.  Is this the last year of production of the UHR?
On January 30, 2009 don drysdale said
On header page you called coin proof.It is a business strike not proof.
On January 30, 2009 Me said
I heard it was a 1 year only thing
On February 1, 2009 John said
I too checked "my account" with the mint and the price has not gone up.

Something to add? Notice an error? Comment on this article.
 



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