1908 Wells Fargo Saint - hype or not?

Agflyer

I've decided to put a 1908 MS65 Wells Fargo Saint in my type collection, but the prices realized on eBay, Yahoo, etc. seem to be hyped at around $1,100. I like the idea of putting a pedigreed coin in my collection and a nice looking MS65 would be fine despite the high pop. What is a realistic price for this coin? What are your thoughts on the Wells Fargo pedigree? Any advice is welcome. Thanks.
Rick II

coinguy1

Rick ll,

Thye're probably worth about $900 wholesale, so you decide how much over that you think is fair to pay. The pedigree is fine, but I wouldn't pay extra for it. The current PCGS pop (Oct. 2002) in MS65 without pedigree is 3576 and 2385 with pedigree. In grades above MS65, the vast majority are Wells Fargo pieces.

Placid

Wells Fargo gold

Makes a good story, like Binion Morgans.

This part stood out,
"While Wells Fargo® does not claim to be the owner of these coins at any point in their history, their name is used for the pedigree through a special marketing agreement. The name was selected because of where the coins were stored and the deal was negotiated and struck. This pedigree is carried only by these beautiful coins".

Agflyer

Thanks Mark and Placid. Now, I've heard it suggested that PCGS had stricter grading standards back in the days of the green label. Providing the coin looks like an upgrade candidate, would it be wise to send the coin in and try for the higher grade label? Would it maintain its Wells Fargo pedigree? I don't know that I've ever seen one in a newer PCGS slab, so I'm just wondering for now. Thanks again.
Rick II

zenny

if ya gotta ask, it's probably hype....

Placid

The small slabs with green labels maybe but it depends on the coin. Some of the old ones upgrade some stay the same and some downgrade.
If the coin looks like it's a solid 66 then go for it.

If you submit the coin in it's current holder then it should retain the pedigree.

coinguy1

Rick ll,

There are coins in green labeled holders that are undergraded and coins that are overgraded. Don't assume that the coin is undergraded just because it is in an old holder. And, let's face it, if the owner thought it was a good upgrade candidate he'd probably try to make the extra $ for himself.

You can resubmit coins with pedigrees on the labels and make a notation on the invoice to keep the pedigree intact.

kranky

There's an article about the Wells Fargo gold coins here.

Agflyer

Kranky, that was an interesting article. I know that I have a tendency to get caught up in hype. With that said, I'm glad that I didn't buy this coin in the late 90's! Since my interest is to have higher quality coins in my gold type set, I think I'll be happy with this MS65 Saint. Thanks again for the info. that I so appreciate from this forum!
Rick II

darktone

Here's a picture of mine $$$$$$. I paid $1,160 when they were first offered for sale. Mike

Agflyer

Ah, the sister to my new (almost) Saint. Some day soon I'll be able to show it off too! Neat coin.
Rick II