DUSK TO DAWN EAGLES

Shojohn11

I cannot believe coin number one sold for $177,000 and I believe the silver eagle equivalent sold for $88,000 and the price guide on any number Silver Eagle is 22,000 in NGC. I buy these coins from two reputable wholesale dealers thinking of reselling but he just notified me he has coin number 500 predicts that it'll be worth more than coin number one literally the last eagle heraldic Eagle struck by Mr Rider two time director of the US Mint and he actually ran the press for the 500 coins actually 2,000 coins 500 type 1 and type 2 gold 500 type 1 and type 2 silver. I'm thinking of buying coin 500 wondering what you folks might think out there it was offered to me at 10K

GRANDAM

I would pass,,,,,,,

TomB

What are you writing about?

braddick

@TomB said:
What are you writing about?

https://www.ngccoin.com/news/article/10459/

braddick

@TomB said:
What are you writing about?

https://lcrcoin.com/dusk-and-dawn/dusk-and-dawn-gold-eagles/

lilolme

@TomB said:
What are you writing about?

Got lucky and the search found the thread where comments were made when the auction results were coming in.

https://forums.collectors.com/discussion/1080827/are-these-us-mint-gold-and-silver-eagles-anything-special

gumby1234

I can think of many coins I would rather buy for that kind of money.

jmlanzaf

Buy it if you want it. Don't buy it if you're just getting to make money on it.

DCW

As others have said, there are quite a few things I'd rather have than that. Seems like a gimmick to me, but to each his own.

JBK

The OP's post is a little hard to decipher.

You've been buying these already? Silver? Gold?

In any case, I checked the links provided by others and it seems that the numbering is actually in reverse order for the older designs. The slabs I saw said something like "425th to last coin struck". So, for the old designs, it appears to be a countdown. (For the new designs it is presumably a normal numerical sequence.)

In that scenario, how would #500 ever be worth more than #1? The 500th to last coin struck in the old design vs the actual last coin struck? (Or, the 500th of the new design vs the first.)

The whole thing is a bit of hype in my opinion, but it sounds like the person offering you #500 as being potentially the most valuable is taking the hype to new levels.

ricko

@Shojohn11... Welcome aboard. That is mostly marketing hype. Your money, do as you wish. For me, I would pass... There are much better coins out there. Cheers, RickO

Jzyskowski1

Welcome my friend
One of the best pieces of advice offered here is collect what you like.
That being said, there’s quite a bit of wisdom to be had by researching and studying coins, value, scams and questions such as rarity and such.
Personally, if I had a bucket of money I would never fall for what appears to be nothing more than a good ole ego stroke. Kinda like the advanced release. Is a ASE that you were able to own that states you are special because you have an ounce of silver a week before others were able to purchase really special? That’s to be decided by you, the buyer.
Some people just have to have a CAC sticker to make their coin proper for them. Others buy the coin not the holder or label.
Good luck and personally I don’t see number 500 being anything special except to the seller who cashs in on those who have to have a super one of a kind label.
Great question and you will receive many opinions about how others feel. Good luck 😁

MetroD

Details from the 09/01/22 SB Auction:
~ Catalog;
~ Realized Prices (Session #15 starts on page #28).

Edited to add:
FWIW, Lot #700 contained four coins:
~ 500th to the Last T1 AGE struck;
~ 500th to the Last T1 ASE struck;
~ 500th T2 AGE struck;
~ 500th T2 ASE struck.

In SEP, all four coins sold for $7,250.00.

fathom

Well you are buying the label.

My experience is that labels can only take you so far in terms of perceived value.

So I would tread carefully.

Smudge

Hard pass.

erwindoc

But the buyer's premium is being waived...

1madman

For the last several years NGC has designated “From Mint Box 1” on the labels of fractional mint state gold eagles, and they bring absolutely no premium vs other gold eagles. Do not buy that coin for $10k, trust me. There is nothing special about a coin from the first or last box of eagles.

Zoins

PCGS said:
The last of the Type I One-Ounce American Gold Eagles depicting the Family of Eagles reverse by Miley Busiek-Frost sold for $77,500, while the first of the Type II One-Ounce American Gold Eagles with the current eagle head reverse by Jennie Norris commanded $100,000. The prices of both specimens represent record bids for the American Gold Eagle series. They are among several notable rarities that have crossed into PCGS holders in recent years, such as the Atwater / Eliasberg Specimen 1885 Trade Dollar, which took nearly $4 million in a 2019 auction and is now graded PCGS PR65+CAM.

https://www.pcgs.com/news/famous-at-dusk-and-at-dawn-american-eagle-coins-graded-by-pcgs

1madman

So greatcollections crossed these coins to pcgs for the collector that bought them. Are these going to be sold on greatcollections soon? I can’t understand why someone would buy these for significant premiums, then immediately sell? Gut feeling is they will sell for less.

NJCoin

@1madman said:
So greatcollections crossed these coins to pcgs for the collector that bought them. Are these going to be sold on greatcollections soon? I can’t understand why someone would buy these for significant premiums, then immediately sell? Gut feeling is they will sell for less.

Based on your prior comments, your gut feeling is probably that the coins are worth no more than bullion, since "[t]here is nothing special about a coin from the first or last box of eagles." These Dawn to Dusk to coins are indeed special, none more special than the first and last. These were not the manufactured label rarities created by the TPGs for the TV marketers, since they were created in partnership with the Mint itself. For the first time ever, which makes them special for that reason alone. The results from the Stacks Bowers auction proved it.

Whether or not these coins net more than $177,500 is anyone's guess, but you can rest assured they will go for far more than $4,000. And why you so sure the buyer was a collector, and not a dealer? I am quite sure a lot of those coins ended up in dealers' hands, since the auction was the only place to get them, and there is clearly a market for them. Maybe not for you, and maybe not at $100K a pop, but there is a market at a significant premium.

Assuming most of what I am saying is correct, what don't you understand about a dealer buying a coin at a significant premium to its bullion value and then immediately trying to sell it for a more significant premium? I thought that was what the business was all about. Otherwise, maybe GC just submitted it to provide the owner with anonymity?

jmlanzaf

@NJCoin said:

@1madman said:
So greatcollections crossed these coins to pcgs for the collector that bought them. Are these going to be sold on greatcollections soon? I can’t understand why someone would buy these for significant premiums, then immediately sell? Gut feeling is they will sell for less.

Based on your prior comments, your gut feeling is probably that the coins are worth no more than bullion, since "[t]here is nothing special about a coin from the first or last box of eagles." These Dawn to Dusk to coins are indeed special, none more special than the first and last. These were not the manufactured label rarities created by the TPGs for the TV marketers, since they were created in partnership with the Mint itself. For the first time ever, which makes them special for that reason alone. The results from the Stacks Bowers auction proved it.

Whether or not these coins net more than $177,500 is anyone's guess, but you can rest assured they will go for far more than $4,000. And why you so sure the buyer was a collector, and not a dealer? I am quite sure a lot of those coins ended up in dealers' hands, since the auction was the only place to get them, and there is clearly a market for them. Maybe not for you, and maybe not at $100K a pop, but there is a market at a significant premium.

Assuming most of what I am saying is correct, what don't you understand about a dealer buying a coin at a significant premium to its bullion value and then immediately trying to sell it for a more significant premium? I thought that was what the business was all about. Otherwise, maybe GC just submitted it to provide the owner with anonymity?

It's not impossible that GC is the owner.

1madman

@NJCoin said:

@1madman said:
So greatcollections crossed these coins to pcgs for the collector that bought them. Are these going to be sold on greatcollections soon? I can’t understand why someone would buy these for significant premiums, then immediately sell? Gut feeling is they will sell for less.

Based on your prior comments, your gut feeling is probably that the coins are worth no more than bullion, since "[t]here is nothing special about a coin from the first or last box of eagles." These Dawn to Dusk to coins are indeed special, none more special than the first and last. These were not the manufactured label rarities created by the TPGs for the TV marketers, since they were created in partnership with the Mint itself. For the first time ever, which makes them special for that reason alone. The results from the Stacks Bowers auction proved it.

Whether or not these coins net more than $177,500 is anyone's guess, but you can rest assured they will go for far more than $4,000. And why you so sure the buyer was a collector, and not a dealer? I am quite sure a lot of those coins ended up in dealers' hands, since the auction was the only place to get them, and there is clearly a market for them. Maybe not for you, and maybe not at $100K a pop, but there is a market at a significant premium.

Assuming most of what I am saying is correct, what don't you understand about a dealer buying a coin at a significant premium to its bullion value and then immediately trying to sell it for a more significant premium? I thought that was what the business was all about. Otherwise, maybe GC just submitted it to provide the owner with anonymity?

Sounds like you may be highly in tune with what the true value is on coins like these. There apparently is room for profit above $177,000? What’s your guesstimate on if these sell again this calendar year? Keep in mind, I believe they sold for a record price of any gold eagle ever, and they are not a pattern design. I say $125,000, and dealer takes a tax write off on the loss