Since its discovery at a coin show in 1968 by Victor H. Weill (a stamp expert at the Smithsonian), this coin has often been incorrectly touted by references and auctions as an "experimental piece" or a "trial strike." The misinformation begins in the August 6, 1969 Coin World ''Collector's Clearinghouse'' column, which describes this piece as being ''...a previously unknown experimental strike of the Saint-Gaudens Double Eagle at the Philadelphia Mint. It has a plain edge, three folds to the skirt and apparently 14 rays over the Capitol. Our [Coin World's] information is that the regular issue high reliefs have 13 rays, as well as the lettered edge. Early experimental pieces had two folds to the skirt, 14 rays, and plain edges.'' Actually, regular issue high reliefs (including the present coin) have 14 rays above the Capitol, but the Coin World article was quoted verbatim in the 1972 Schulman auction to which Mr. Weill consigned this unique coin. It was auctioned off for an impressive $43,500 on an incredible $75,000-$100,000 estimate.
In a letter that no longer accompanies this coin, Walter Breen wrote, ''Most likely the present coin was made experimentally using a plain collar, pending completion of the segmented (lettered edge) collar used for the normal MCMVIIs. The present coin, then, was a test striking, and probably the first of its type. Its importance would be hard to exaggerate! To date it remains the only specimen reported. Most likely it will remain unique.'' Mr. Breen was a bit more reserved in his Encyclopedia entry, merely listing this coin as a Plain Edge and providing technical information and referencing the relevant articles and auctions.

Mr. Breen's above opinion and analyis could very possibly have been true. This Plain Edge coin could have been struck from experimental dies or could have been struck before the segmented, Lettered Edge collar had been created. It is felt that a recently discovered and sold Plain Edge 1907 Wire Rim Indian Eagle falls into the latter category.

The present Plain Edge 1907 High Relief Double Eagle, however, is neither an experimental nor a trial strike. Rather, this unique coin most probably exists because of an error on the part of the press operator. High Reliefs were struck in 3 blows of the dies on a medal press in the Philadelphia Mint. The first two strikings were made utilizing a plain collar, presumably to prevent the raised edge lettering from being disfigured from successive strikings. It was only during the third striking that the plain collar was replaced by the lettered collar to produce a ''complete'' High Relief Double Eagle with Lettered Edge. Due to the work-hardening of metal that results from the pressures of the striking process, the as yet ''incomplete'' coin was removed from the press after the first and second strikings to be annealed, or softened by heating. The present coin was never returned to the press after the second round of striking/annealing; or it received the third blow of the dies but the pressman neglected to install the lettered collar for this third strike. Either of these scenarios could explain the existence of this coin.

We must discount the ''experimental'' or ''trial'' strike theory because the coin is struck from well used dies; in fact, the obverse plainly exhibits a long die crack that extends from the folds in striding Liberty's drapery to the rays in left obverse field. This identical die crack is found on a Lettered Edge, High Relief that we have sold at auction, but is in an earlier, less advanced state than on this Plain Edge. Therefore normal, complete Lettered Edge coins were struck from regular dies before this Plain Edge was inadvertently produced. There were, however, some experimental pieces struck with dies based on St. Gaudens' second design models that would have been in lower relief than the Extremely High Relief (EHR) issue but would have been in higher relief and of a design more similar to the regular High Relief issue. Burdette refers to this intermediate relief issue as the Very High Relief (VHR). Eight of these were struck in various progressions (1 blow of the dies, 2 blows, 3 blows and 10 blows) before the dies broke, but none have been discovered thus far. They could exist with Plain or Lettered Edges. The present cracked die, Plain Edge specimen is not this Very High Relief issue.

Surfaces are lustrous with rich yellow-gold toning and hints of deeper orange and coppery hues edging the obverse devices. Carefully rotating the coin in the light reveals a patch of hairlines in left obverse field and around 'TY' of LIBERTY, in addition to a shallow scuff in right obverse field. A series of tiny rim bruises are to be found on both sides, including two minor ones at 9:00 and 12:00 on the reverse and a large edge bruise at the 7:00 position on the obverse. Close examination under magnification reveals many as struck ''lint marks'' on both sides, with a long one extending across many sunrays in the left field. Similar lintmarks are found on lot 3431 in this sale, which shares at least an obverse die with this Plain Edge specimen. The lint marks might be unique to this die pairing, as similar marks are not noted on the several other High Reliefs in this auction.

Struck in a plain, unsegmented (i.e. single piece) collar that was evidently not wide enough along the coin's edge to contain all the metal flow. As a result, there is a raised lip of metal along the edge that is most pronounced from the 12:00 to 5:00 positions (using the obverse as a guide). This raised lip is akin to a ''partial collar'' error type and is seen from the obverse as a partial wire rim. Under magnification, the edge exhibits many fine horizontal and vertical striae that were in the collar itself. Also noted on the edge is what look likes the incuse top three points of a star adjacent to the 'Y' of LIBERTY, but this is probably the result of transfer of detail from another coin during loose storage.

Saint-Gaudens designed coins are the most highly regarded, avidly collected and intensely researched of all U.S. Coins. The current coin represents the creme de la creme of 1907 High Relief Double Eagle varieties and will undoubtedly soon grace the collection of a specialist in the Saint-Gaudens Double Eagle series. In the nearly 40 years since the discovery of this Plain Edge coin, no additional specimens have come to light. A specimen in the ANS was formerly catalogued as having a ''plain edge.'' Upon recent verification, it was found to be a regular, Lettered Edge High Relief, as the word ''plain'' in this case was used to mean ''usual'' or ''normal.'' Thus the Plain Edge issue may be described as unique and is very desirable as such. We would agree with noted gold coin specialist David Akers' opinion: ''Because of its rarity and historical significance, it could reasonably be claimed that this coin is one of the most important and desirable of all U.S. gold coin issues.''

The example to the left was sold by Stack's Bowers Galleries in the January 2006 Auction, where it realized $322,000.