A tale of 2 AUs (Gold Type 2 Double Eagles)

Blade

I've been casually looking at Type 2 Double Eagles for my type set over the past year. Other interests have held me back, and also I hadn't seen a coin that was just right. I was looking for a nice common date AU58. MS60-61's generally look pretty banged up, and an MS62 runs $2,500, which is 4x+ the price.

The challenge is they looked like this... not a bad coin, but lacks a lot in the luster department and shows clear wear. I checked out the Heritage auction archives and they all look pretty much like this.



Then I found this AU58 beauty which has a total MS62 look with super luster and few marks. Barely traceable wear!!!! It also has some small copper spots, which leads me to believe it hasn't been dipped or messed with. I know I've spouted the virtues of AU58 before. With a little patience, there are some coins with amazing eye appeal out there for a fraction of the mint state price.

Dollars

Help a layman out...

What does an AU go for. I was thinking about picking up a double eagle, but I cannot afford MS price.

That second coin is a real looker if the pics are anywhere near what the coin looks like.

Blade

AU common date Type 3's or Saints will cost basically gold spot price plus maybe 5%. If you can afford another $100, you could get a Saint in MS63.

This coin set me back $675, which is about 10% above average AU58 price for this date. I was glad to pay the premium.

mojorizn

Gotta agree with you on the AU58 thing, and that extends to most series. I would much rather have an honest AU58 Buffalo or SLQ than a dinged up MS61 0r 62 with a wealth of luster that only serves to highlight each and every drawback.

Mojo

Blade

ttt

darktone

Nice coin! If the copper spots have any pink in them I would suspect a dip. mike