The 2009 Ultra High Relief $20 Gold Coin: Essential Insights For Collectors

Striking Coins in 2009 Using Technology Unavailable in 1907

In early 1905, President Theodore Roosevelt appointed sculptor Augustus Saint-Gaudens to enhance the beauty of American coins. This bold move reflected Roosevelt’s dynamic leadership and America’s growing influence on the world stage. The president’s goal was for Saint-Gaudens to create ultra-high relief coins inspired by ancient Greek designs, as outlined in a letter from November 1905.

Saint-Gaudens was reluctant to collaborate closely with the U.S. Mint or allow interference during his creative process, largely due to a difficult experience with the Mint over the 1893 World’s Columbian Exposition medal. Roosevelt, who called this coin redesign project his “pet crime,” worked with Treasury Secretary Leslie Shaw to find funds without going through Congress. Shaw identified $85,000 in the Mint’s General Fund as available.

At the time, Saint-Gaudens was among the most sought-after American artists, known for his mastery of the French Beaux-Arts style, which drew heavily from classical Greek and Roman art. If Roosevelt wanted coins modeled after ancient Greek pieces, Saint-Gaudens was the perfect artist for the task.

Sadly, Saint-Gaudens was battling poor health due to intestinal cancer, diagnosed in 1900, and by 1906, when the designs for the $10 and $20 gold coins were underway, his condition was worsening.

The U.S. Mint, though initially hesitant, had to fulfill the president’s vision and collaborated with Saint-Gaudens, but faced many technical challenges. Roosevelt’s idea to produce coins with very high relief was difficult given modern minting methods. Coins had to be struck in one press strike to produce a full image, as the Mint functioned as the nation’s coin factory for circulation currency.

Saint-Gaudens’ assistant, Henry Herring, worked with the Mint to adapt the designs. By February 15, 1907, test strikes of the Ultra High Relief coins were delivered to Mint Director George Evan Roberts. Despite additional attempts, the reverse die cracked, and each coin required seven strikes to complete.

As Saint-Gaudens’ health declined, Herring took over most of the work to adjust the design for production, while Chief Engraver Charles Barber, though critical, remained professional. Eventually, the relief was lowered, and the coins entered production. Saint-Gaudens passed away before seeing his design finalized and likely would not have approved the changes.

For the 2009 release, Mint Director Edmund C. Moy directed the use of modern technology to fully realize Saint-Gaudens’ original vision. The Mint digitally scanned the original coin models and created new ultra-high relief dies using 21st-century design tools. The design included four new stars, representing New Mexico, Arizona, Alaska, and Hawaii, and added the motto IN GOD WE TRUST on the reverse, which was not on the 1907 coins but appeared from 1909 onward. A small border was also included.

The Mint partnered with the Perth Mint in Australia, which had experience with ultra-high relief coins. Gold planchets were produced in Australia and sent back to the U.S. Mint for striking. Some Perth Mint prototypes were donated to the Smithsonian’s National Numismatic Collection.

In November 2008, the entire 2009 Ultra High Relief $20 gold coin mintage was struck at the West Point Mint. This final product closely matched the original design and is considered by many collectors to be one of the most beautiful coins the U.S. has ever produced.

Immediate Aftermarket and Prices Today

The 2009 Ultra High Relief coin was released for sale on January 22, 2009, priced at $1,189 when gold was around $860 per ounce, representing about a 38% premium over spot price. The Mint sold 115,178 coins, with a purchase limit of one coin per household, mostly bought by collectors.

Even before collectors received their coins, dealers had prearranged orders to buy them at premiums up to $1,650. These dealers then submitted coins in bulk to grading services like NGC and PCGS.

Demand was strong at launch, boosted by grading services offering special labels like First Strike and Early Release, which dealers used to market coins above $2,000. Some MS70 graded coins reached prices over $2,500 during this initial surge. By 2011, resale values ranged between $3,000 and $4,000.

Is the 2009 Ultra High Relief $20 Gold Coin Worth Collecting Now?

Absolutely.

The 2009 Ultra High Relief coin represents the peak of Beaux-Arts coin design and is the closest realization of Saint-Gaudens’ original vision for the famous double eagle.

Serious collectors often seek coins graded “70” by third-party services, although these come with a premium. Of the roughly 24,000 coins graded by PCGS, about half have earned the perfect 70 grade. NGC has graded over 22,000, with more than 60% receiving a 70 grade. The CAC grading service has yet to certify enough examples for comparison.

Prooflike (PL) coins are scarcer, with about 20% of NGC submissions earning this designation, and fewer than 2% receiving Deep Prooflike (DPL). PCGS designates around 17% of its submissions as PL. These coins tend to earn higher grades more often than standard examples, and PL 70 coins typically sell for about 50% more than non-PL versions.

Market Data and Noteworthy Specimens

• Top populations include PCGS MS68, NGC MS70 DPL, and CAC MS70.
• Recent sales (February 2025) show prices such as:
  • NGC MS70: $3,999
  • NGC MS70 PL (Ed Moy label): $3,999.95
  • PCGS MS70 (Ed Moy label): $3,695
  • CACG MS70: $3,499
  • PCGS MS70 PL: $4,150

Coin Specifications

• Year of Issue: 2009
• Mintage: 114,427
• Alloy: .9999 fine gold
• Weight: 31.1 grams
• Diameter: 27.0 mm
• Edge: Lettered “E * P * L * U * R * I * B * U * S * U * N * U * M *”
• Obverse Designer: Augustus Saint-Gaudens
• Reverse Designer: Augustus Saint-Gaudens

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