Jeff Garrett: Great Coins

Despite this being the 6th Edition of my popular book, 100 Greatest U.S. Coins, I could not wait to open the box when they arrived this week. The new books have been redesigned, with a much more modern look. Whitman Publishing was sold last year to CDN Publishing, and the new management has been doing a great job creating new products and greatly enhancing titles in the portfolio. We have been working hard recently on next year’s edition of the Red Book, and there are some great surprises in store.

I find it hard to believe that it has been about 20 years since the first edition of the 100 Greatest U.S. Coins debuted. The book was an instant hit and won the Numismatic Literary Guild (NLG) Book of the Year award in 2003. It was my first numismatic book, and it helped launch my career as a numismatic writer. I have often been asked how the idea for the book came about.

Shortly after finding out that I am a rare coin dealer, new acquaintances will often begin to ask about coin collecting. One of the first questions many people ask: What is the most expensive coin? Most are astounded when told that a 1933 Double Eagle sold at auction for more than $18 million a couple of years ago. They usually then ask how a coin can be worth so much. The short answer is: "the story."

It was because of questions like this that I authored the 100 Greatest U.S. Coins. For nearly every coin in the book, it is the story that makes it great! The 1933 Double Eagle is a prime example. How many coins have been spirited from the Mint, owned by Royalty, confiscated by the Secret Service, targeted in a sting operation, featured in a decade-long legal battle and spotlighted in a recent appearance on the TV show Pawn Stars, with yours truly. The coin now finds itself on the cover of the 6th edition of the book.

There are many, many coins in the United States series that are very rare but lack a compelling story to make them highly desirable. On the other hand, there are quite a few coins that are relatively common, but find themselves on the want list of most serious collectors. The 1907 High Relief Double Eagle is a good example. The coin was saved by the thousands and can be found in quantity at nearly every coin show. I have personally handled hundreds of examples over the years.

Click images to enlarge.

The 1907 High Relief Double Eagle is highly sought after because of its great story and incredible beauty. The President of the United States, Teddy Roosevelt, commissioned the nation’s greatest artist to redesign the Cent, 10 Dollar and 20 Dollar coinage. The US Mint struggled mightily to bring the artistic genius of Augustus Saint-Gaudens to reality. The final result is one of the most beautiful coins ever produced.

Coins have often been referred to as "history in your hands." Old coins were objects of value, and they were seldom discarded. Although most were melted and recoined, some managed to survive, enabling their new owners to appreciate and to better understand the society they served.

Many of the most historic events in human history can be found on a nation’s coinage. Greek gods and Roman conquerors are immortalized on some of the earliest coinage struck. Roman Emperors used coins for propaganda. One can easily trace the advancement of civilization through coinage.

The history of the United States is very clearly illustrated by its coinage. From the 1652 Pine Tree Shilling struck in colonial Massachusetts to the 1792 Half Disme, all of which were owned by Thomas Jefferson at one time. Coins are a tangible link to the formation of our nation. The early monetary system of the United States was closely tied to its coinage. This was before paper money, and at a time when a Silver Dollar had a dollar's worth of silver. What a concept!

The expansion of the United States is also easily found through rare coins. With the discovery of gold in California, the gold Dollar and Double Eagle came into being. Even today, coins play an important part commemorating our nation’s history. The US Mint has extensive plans to issue special coins to commemorate the nation's 250th birthday in 2026.

Interestingly, even common coins can sometimes become very desirable because of the story attached to them. Some great examples of this are the many shipwreck coins that have been found over the years. Coins from the S.S. Central America, S.S. New York, S.S. Republic and the S.S. Yankee Blade are all highly sought after. Decades later, collectors are still excited when told of the vast treasure found by Mel Fisher when he discovered the Atocha off the coast of Florida. Other great hoards that collectors clamor for include the Redfield Silver Dollars, the GSA Carson City Silver Dollars and the Wells Fargo Double Eagles.

A coin’s pedigree can also have an important impact on its value. Many collectors would much rather own a coin that was once part of a famous collection. Early Large Cent collectors carefully study the pedigree of almost every important Large Cent offered. Coins with such illustrious pedigrees as Clapp, Eliasberg, Ford, Pittman, Bass, etc. will always bring more than coins with little or no history. Many great collections are being formed today, and in the future, coins from these collections will undoubtedly bring a premium.

It is not difficult to understand how a compelling story can make a coin so desirable. This can be important knowledge when making a purchase decision. Remember, the value of a coin is much more than rarity and condition. It is my guess that in the future, coins with a great story will always be the most sought after.

100 Greatest U.S. Coins - 6th Edition

1. 1933 Saint-Gaudens Double Eagle
2. 1804 Draped Bust Silver Dollar
3. 1907 Indian Head Double Eagle Pattern
4. 1913 Liberty Head Nickel
5. 1849 Liberty Head Double Eagle
6. 1794 Flowing Hair Silver Dollar
7. 1894-S Barber Dime
8. 1877 Half Union $50 Gold Coins (Two Designs)
9. 1907 Ultra High Relief Saint-Gaudens Double Eagle
10. 1822 Capped Head Half Eagle
11. 1861 "Paquet Reverse" Liberty Head Double Eagle
12. 1870-S Indian Princess Head $3 Gold Piece
13. 1907 Ultra High Relief Saint-Gaudens Double Eagle Piedfort (Diameter of an Eagle)
14. 1792 Half Dime
15. 1872 Amazonian Gold Pattern Set
16. 1820-1833 Proof Capped Head Half Eagles
17. 1854-S Liberty Head Half Eagle
18. 1879 and 1880 $4 Gold "Stellas" (Coiled Hair and Flowing Hair)
19. 1943 Bronze Lincoln Cent
20. 1885 Proof Trade Dollar
21. 1793 Flowing Hair, Chain Reverse Cent
22. 1792 Disme
23. 1792 Birch Cent
24. 1792 Silver-Center Cent
25. 1792 Quarter Dollar Pattern
26. 1873-CC "No Arrows" Liberty Seated Dime
27. 1927-D Saint-Gaudens Double Eagle
28. 1884 Proof Trade Dollar
29. 1876-CC Liberty Seated Twenty-Cent Piece
30. 1838-O Capped Bust Half Dollar
31. 1907 High Relief Saint-Gaudens Double Eagle
32. 1870-S Liberty Seated Silver Dollar
33. 1854-O Liberty Head Double Eagle
34. 1854-S Presentation-Strike Liberty Head Double Eagle
35. 1798 "Small Eagle" Capped Bust Half Eagle
36. 1907 "Rolled Edge" Indian Head Eagle
37. 1915-S Panama-Pacific Exposition $50 Gold Pieces (Octagonal and Round)
38. 1794 "Starred Reverse" Liberty Cap Large Cent
39. 1849-C "Open Wreath" Liberty Head Gold Dollar
40. 1787 Fugio Cent
41. 1893-S Morgan Silver Dollar
42. 1838 Proof Liberty Head Eagle
43. 1933 Indian Head Eagle
44. 1916 Standing Liberty Quarter Dollar
45. 1844-O Proof Liberty Head Half Eagle and Eagle
46. 1861-D Indian Princess Head Gold Dollar
47. 1909-S V.D.B. Lincoln Cent
48. 1834-1837 Proof Classic Head Half Eagles
49. 1861-S "Paquet Reverse" Liberty Head Double Eagle
50. 1815 Capped Head Half Eagle
51. 1783 Nova Constellatio Patterns
52. 1798, 8 Over 7 Capped Bust Eagles (Two Varieties: 9x4 Stars and 7x6 Stars)
53. 1804 "13 Stars" Capped Bust Quarter Eagle
54. 1921 Proof Saint-Gaudens Double Eagle
55. 1895 Morgan Silver Dollar
56. 1856-O Liberty Head Double Eagle
57. 1875 Indian Princess Head $3 Gold Piece
58. 1916-D Mercury Dime
59. 1796 Liberty Cap Half Cents (With Pole and No Pole)
60. 1854 and 1855 Proof Indian Princess Head Gold Dollars (Type II)
61. 1866 "No Motto" Liberty Seated Quarter Dollar and Half Dollar
62. 1817, 7 Over 4 Capped Bust Half Dollar
63. 1866 "No Motto" Liberty Seated Silver Dollar
64. 1796 "No Stars" Capped Bust Quarter Eagle
65. 1836, 1838 and 1839 Gobrecht Silver Dollars
66. 1796 and 1797 Draped Bust Half Dollars
67. 1955 Doubled-Die Obverse Lincoln Cent
68. 1848 "Cal." Liberty Head Quarter Eagle
69. 1796 Draped Bust Quarter Dollar
70. 1856 Flying Eagle Cent
71. 1870-S Liberty Seated Half Dime
72. 1851-1853 U.S. Assay Office $50 Gold Slugs
73. 1793 "Strawberry Leaf" Flowing Hair, Wreath Reverse Large Cent
74. 1873-CC "No Arrows" Liberty Seated Quarter Dollar
75. 1870-CC Liberty Head Double Eagle
76. 1802 Draped Bust Half Dime
77. 1829 Capped Head Half Eagles (Large and Small Planchets)
78. 1853-O "No Arrows" Liberty Seated Half Dollar
79. 1797 "16 Stars Obverse" Capped Bust, Heraldic Reverse Half Eagle
80. 1825, 5 Over 4 Capped Head Half Eagle
81. 1804 "Plain 4" Capped Bust Eagle
82. 1801, 1802 and 1803 Proof Draped Bust Silver Dollars
83. 1795 "Nine Leaved" Capped Bust Eagle
84. 1867 Proof "With Rays" Shield Nickel
85. 1877 Indian Cent
86. 1874 Bickford $10 Gold Pattern
87. 1918-S, 8 Over 7 Standing Liberty Quarter Dollar
88. 1879 Quintuple Stella
89. 1808 Capped Bust Quarter Eagle
90. 1827 "Original" Capped Bust Quarter Dollar
91. 1776 Continental Dollar
92. 1842 "Small Date" Liberty Seated Quarter Dollar
93. 1854-S Liberty Head Quarter Eagle
94. 1832 "12 Stars" Capped Head Half Eagle
95. 1841 Liberty Head Quarter Eagle
96. 1863 Proof Liberty Head Quarter Eagle
97. 1857-S Liberty Head Double Eagles (From the Wreck of the SS Central America)
98. 1864 Proof "Small Motto" Two-Cent Piece
99. 1918-D, 8 Over 7 Buffalo Nickel
100. 1861 Confederate Half Dollar

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