Perhaps one of the most popular gold coins in American history, the Saint-Gaudens Double Eagle is a quintessential coin celebrated for its beautiful design and equally fascinating history. When the $20 “Saint” first debuted in 1907, it received tremendous praise from the general public. Art critics and newspaper editorialists lauded the coin’s stunning design. While there was never a complaint about the coin’s aesthetics, some Americans were incensed by one glaring omission.
Since 1866, in the Civil War’s immediate aftermath, all United States Double Eagles displayed the motto “IN GOD WE TRUST” on the reverse. Including this inscription was not (yet) required by law, but became a regular practice for the U.S. Mint. When these words vanished from the Double Eagle, many citizens were outraged.
In response to this public outcry, Congress ordered the U.S. Mint to place “IN GOD WE TRUST” on all coins upon which the motto previously appeared. This legislation specifically targeted the Saint-Gaudens $10 Eagle and $20 Double Eagle—both of which lacked the motto. The Mint immediately complied with this mandate and restored the inscription on both gold coins. Consequently, the 1908 $10 and $20 gold pieces exist in “No Motto” and “With Motto” versions.
This turn of events transformed the 1908 “No Motto” $20 Saint into a notable coin. These “ungodly” Double Eagles became a distinct and short-lived design type—as such, they became favorites among collectors. Not only do they have a fascinating story, but they’re significantly rarer than the With Motto type.
Based on NGC’s population data, No Motto $20 Saints are nearly five times rarer than their With Motto brethren. Despite this significant disparity in population, No Mottos are trading for a minimal premium today. For essentially the same price as a common With Motto piece, you can own the scarcer and historically significant 1908 No Motto issue.
There’s one more reason why the “No Motto” $20 Saint is an excellent value today. As many readers will recall, MS63 $20 Saints have commanded massive premiums over their melt value. At one point, in fact, this coin consistently traded hands for 80-100% premiums! In today’s market, however, Choice Uncirculated MS63s can be had for substantially less.