2022 Saint-Gaudens NPF Super Incuse Gold 1/2oz Half Eagle Commemorative NGC SP-70 First Day of Issue, Signed by Mercanti

This is a privately issued commemorative medal (not U.S. legal tender), licensed by the National Park Foundation (NPF) and struck by the Commonwealth Mint in the United Kingdom. It was released in 2022 to mark the 115th anniversary of Augustus Saint-Gaudens’ famous $20 Double Eagle design.

Saint-Gaudens had been working on adapting his Liberty design for the $5 Half Eagle before his death; the project was never completed by the U.S. Mint. This piece is presented as a “what might have been” version of that design, executed in deep super incuse relief on both sides (the design is sunk into the metal rather than raised). Combined incuse depth on the ½ oz gold version is about 2.2 mm.

Key specifications

• Weight / purity: ½ troy oz of .9999 fine gold
• Mintage: 499 worldwide
• Diameter: ~22 mm (piedfort / thicker than a standard Half Eagle would have been)
• Finish: Specimen (soft satin)
• Obverse: Standing Liberty holding torch and olive branch, sun and Capitol in background (from original Saint-Gaudens plasters at the Saint-Gaudens National Historical Park)
• Reverse: Flying eagle (modeled by John Mercanti, 12th Chief Engraver of the U.S. Mint)

The NGC SP-70 First Day of Issue examples typically come in a black-core holder with a special Saint-Gaudens-themed label hand-signed by John Mercanti. NGC population for this exact grade/designation combination is listed around 252.

Value

These trade well above melt value because of the tiny mintage, the unusual super-incuse striking, and the Mercanti-signed FDI pedigree. GreatCollections auction records show SP-70 FDI examples selling in the $2,800–$4,450 range (2025–2026). Retail listings have been higher when available. Melt value tracks half an ounce of gold.

It is part of a small family of related 2022 NPF Super Incuse pieces that also included 2 oz and 5 oz silver versions with higher mintages. Later years saw similar NPF/Saint-Gaudens super-incuse issues using other designs (such as the Indian Head).