1907 Ultra High Relief Double Eagle Worth $9.9M Recovered from Shipwreck

In an extraordinary turn of events that has captivated both maritime historians and numismatists, a rare 1907 Ultra High Relief Double Eagle gold coin has been recovered from a long-lost shipwreck off the eastern coast of the United States. This remarkable find, now valued at an astonishing $9.9 million, is being hailed as one of the most significant coin discoveries in recent history.

Rare $1.32M Wisconsin Quarter With Extra Leaf Found in Loose Change

Discovery Beneath the Waves

Marine archaeologists exploring the wreckage of the SS Republic, a 19th-century passenger and cargo ship that sank during a storm in 1865, made the unexpected discovery. The vessel was known to have carried a shipment of gold coins and other cargo from New York to New Orleans. However, the presence of a 1907 Ultra High Relief Double Eagle—decades newer than the ship’s original manifest—left the recovery team stunned.

The coin was found in a sealed box, remarkably well-preserved despite being submerged for over a century. Its immaculate condition is attributed to gold’s non-reactive nature and the protective environment of the sealed container.

The Enigma of Its Presence

The appearance of a 1907 coin in an 1865 shipwreck poses intriguing questions. Some experts speculate that the coin may have been introduced during later salvage operations or exploratory dives in the 20th century. Others suggest it could have been part of a numismatic collection smuggled aboard the ship during clandestine trips in the early 1900s. The exact circumstances remain a mystery, adding to the coin’s allure and historical significance.

A Masterpiece of American Coinage

The 1907 Ultra High Relief Double Eagle is widely regarded as a masterpiece of American coinage. Designed by renowned sculptor Augustus Saint-Gaudens at the behest of President Theodore Roosevelt, the coin was intended to symbolize a renaissance in American coin design. Roosevelt sought to elevate the artistic quality of U.S. currency, and Saint-Gaudens’ design was a bold step in that direction.

However, the coin’s ultra-high relief design posed significant challenges for mass production. The depth and detail of the design required multiple strikes to achieve the desired effect, making it impractical for everyday circulation. As a result, only about 20 of these coins were ever struck, primarily as pattern pieces to test the design concepts.

Immaculate Condition Enhances Value

What sets this particular 1907 Ultra High Relief Double Eagle apart is its exceptional state of preservation. Despite spending over a century underwater, the coin exhibits minimal signs of corrosion or wear. Conservationists have described it as “exceptionally preserved,” with much of its original luster and intricate detail intact.

Initial evaluations estimated the coin’s worth at around $7 million. However, after a thorough assessment and confirmation of its authenticity, the valuation soared to $9.9 million. This increase is driven by the coin’s rarity, historical significance, and the captivating story of its recovery.

Legal and Ownership Considerations

The discovery has sparked legal debates over ownership. While salvage rights often go to the party who discovers and recovers artifacts, the U.S. government and potential descendants of the ship’s original crew or passengers might also have claims. Currently, the coin is in the custody of the recovery team, which is cooperating with legal authorities and historical institutions. If no disputes arise, the coin may head to public auction later this year, where collectors are already expected to bid well above its estimated value.

A Reminder of Hidden History

This discovery serves as a poignant reminder that history often lies hidden in the most unexpected places. For numismatists, it’s a rare glimpse into a pivotal era in American coin design. For the broader public, it’s a treasure story that feels like something out of a novel—complete with mystery, artistry, and millions in gold.

Whether it ends up in a museum or a private vault, the 1907 Ultra High Relief Double Eagle recovered from a watery grave is now part of an even richer history than its creators could have imagined.

FAQs

Q1: What is the 1907 Ultra High Relief Double Eagle?
It’s a $20 gold coin designed by Augustus Saint-Gaudens, considered one of the most beautiful U.S. coins ever made. Only about 20 were struck due to minting challenges.

Q2: Why is it worth $9.9 million?
Its extreme rarity, historical significance, artistic design, and near-perfect condition contribute to its high valuation.

Q3: How was the coin found?
It was recovered from a sunken shipwreck, possibly the SS Republic, off the U.S. East Coast during an archaeological expedition.

Q4: Was the coin part of the ship’s original cargo?
Unlikely. The ship sank in 1865, but the coin was minted in 1907. It may have been added during later salvage or smuggling efforts.

Q5: Who owns the coin now?
Currently, the recovery team holds it, but ownership could be contested by the U.S. government or other claimants.

Q6: Will it be sold to the public?
Possibly. If no legal claims arise, it may be auctioned later this year, attracting elite collectors worldwide.