The 1908 $20 Saint Gaudens Wells Fargo No Motto is a stunning piece of American numismatic history. Revered for its beauty, rarity, and significant value, this gold coin is one of the most desired by collectors around the world. Designed by Augustus Saint-Gaudens, this coin represents a critical era in U.S. coinage history. The 1908 version with no motto, specifically graded NGC MS67, is especially valuable due to its excellent condition and provenance. In this article, we’ll dive into the history, design, value, and why the Wells Fargo No Motto version is such a prized possession among collectors.
History of the 1908 $20 Saint Gaudens Coin
The $20 Saint Gaudens gold coin was first introduced in 1907, as part of President Theodore Roosevelt’s initiative to beautify American coinage. Dissatisfied with the current designs, Roosevelt commissioned Augustus Saint-Gaudens, one of the most acclaimed sculptors of his time, to redesign the $20 gold piece, known as the Double Eagle.
The coin initially caused some controversy due to its high-relief design, which made it difficult to strike. However, after modifications, it became one of the most celebrated coins in U.S. history. The 1908 version of the $20 Saint Gaudens was the first to be struck in large quantities, and it’s unique due to the absence of the motto “In God We Trust.”
Timeline of the 1908 $20 Saint Gaudens Coin
| Year | Event |
|---|---|
| 1907 | Introduction of the $20 Saint Gaudens coin |
| 1908 | First large quantities struck, No Motto version produced |
| 1908 | Public demand leads to the inclusion of the motto in later strikes |
The “No Motto” Variation Explained
The early versions of the 1908 $20 Saint Gaudens coin were struck without the motto “In God We Trust,” due to President Roosevelt’s personal beliefs. Roosevelt felt that placing God’s name on money was inappropriate, as currency circulated through questionable hands. As a result, the first batch of coins struck in 1908 did not include the motto.
However, this decision was short-lived. Public outcry led Congress to mandate the inclusion of the motto, and by the end of 1908, coins began featuring the phrase. The “No Motto” version, therefore, represents a rare and distinctive subset of the $20 Saint Gaudens series, making it particularly attractive to collectors.
The Wells Fargo Hoard
What makes the 1908 $20 Saint Gaudens Wells Fargo No Motto coin even more special is its connection to the famous Wells Fargo Hoard. In the early 1990s, a treasure trove of about 19,900 pristine Saint Gaudens Double Eagles was discovered in the vaults of Wells Fargo, one of the largest banking institutions in the U.S.
These coins had remained untouched for decades, shielded from circulation and wear. The majority of the coins found in this hoard were from the 1908 No Motto series, and many were in remarkable condition, earning them high grades from numismatic grading services like NGC (Numismatic Guaranty Corporation).
Overview of the Wells Fargo Hoard
| Feature | Description |
|---|---|
| Year Discovered | Early 1990s |
| Total Coins Found | 19,900 Saint Gaudens Double Eagles |
| Significance | Pristine condition, high grading from NGC |
The Importance of NGC Grading
Grading is one of the most important factors in determining the value of a coin. NGC (Numismatic Guaranty Corporation) is one of the most trusted grading services in the world. When a coin receives a high grade from NGC, it guarantees authenticity, quality, and value to collectors.
The grade MS67 indicates a near-flawless coin with only minor imperfections visible under magnification. This is an incredibly high grade for a coin minted over 100 years ago, and it places the 1908 $20 Saint Gaudens Wells Fargo No Motto in a special category.
Grading Scale for Coins
| Grade | Description |
|---|---|
| MS60 | Mint State, low quality |
| MS63 | Mint State, average quality |
| MS67 | Mint State, near-flawless |
| MS70 | Perfect Mint State |
Few coins from this era have survived in such immaculate condition, making MS67 specimens both rare and expensive. The coins from the Wells Fargo Hoard are some of the finest examples, and their pristine condition and connection to this legendary hoard only add to their allure.
Design and Symbolism of the 1908 Saint Gaudens Coin
The design of the 1908 $20 Saint Gaudens is widely regarded as one of the most beautiful in American coinage history.
Coin Design Features
| Side | Description |
|---|---|
| Obverse (Front) | Features Lady Liberty, draped in flowing robes, holding a torch and an olive branch. She strides forward, symbolizing progress. |
| Reverse (Back) | Shows a majestic eagle in flight above a rising sun, representing strength and optimism. |
The absence of the motto “In God We Trust” on the 1908 No Motto version further sets it apart, creating a visual and symbolic distinction from later versions of the coin.
Why Collectors Covet the 1908 $20 Saint Gaudens Wells Fargo No Motto
There are several reasons why this coin is so highly coveted by collectors:
| Reason | Explanation |
|---|---|
| Historical Significance | Represents an important moment in U.S. history with its unique connection to coinage. |
| Rarity | The No Motto variation is much rarer due to its short-lived production period. |
| Condition | Graded as MS67, indicating exceptional preservation and quality. |
| Design | Considered one of the most beautiful designs in U.S. coinage history. |
Value and Investment Potential
The value of a 1908 $20 Saint Gaudens Wells Fargo No Motto coin can vary depending on factors such as condition, provenance, and demand. Coins graded MS67 are among the most valuable due to their near-perfect condition and rarity. These coins have fetched significant sums at auctions, often exceeding $30,000 or more.
Auction Prices for MS67 Coins
| Auction | Price Range |
|---|---|
| Recent Auctions | $30,000 – $50,000 |
The investment potential of the 1908 $20 Saint Gaudens Wells Fargo No Motto coin is high due to its historical significance, rarity, and exceptional condition. As one of the most beautiful and iconic coins in U.S. history, its value is likely to continue appreciating over time, making it a wise addition to any collector’s portfolio.
Conclusion
The 1908 $20 Saint Gaudens Wells Fargo No Motto NGC MS67 is more than just a coin; it is a piece of art, history, and a testament to the enduring beauty of American numismatics. Its connection to the Wells Fargo Hoard and its exceptional condition make it one of the most prized possessions for collectors. With its stunning design, rarity, and historical significance, this coin is a true treasure in the world of numismatics.
FAQs
Why is the 1908 $20 Saint Gaudens coin without the motto “In God We Trust”?
The 1908 $20 Saint Gaudens coin was initially struck without the motto “In God We Trust” due to President Theodore Roosevelt’s belief that the phrase should not appear on currency.
What is the Wells Fargo Hoard and how does it relate to the 1908 Saint Gaudens coin?
The Wells Fargo Hoard refers to a large collection of 19,900 pristine Saint Gaudens Double Eagles discovered in the 1990s in Wells Fargo’s vaults.
What does the NGC MS67 grade mean for the 1908 $20 Saint Gaudens coin?
NGC (Numismatic Guaranty Corporation) grading scale measures the condition of coins. An MS67 grade means the coin is in near-flawless mint state condition, with only minor imperfections visible under magnification.
Why is the 1908 $20 Saint Gaudens Wells Fargo No Motto coin considered a good investment?
The coin’s rarity, historical significance, connection to the famous Wells Fargo Hoard, and high NGC grade make it highly sought after by collectors.