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1927, St. Gaudens, MS63, $625-Is that a good pri
MS70ORBUST
Posts: 395
A dealer gave me a price of $625 for a 1927 St Gaudens $20, NGC MS63.
Is that a good price for me as a buyer? I respect the opinions of this forum and would like any opinion about this deal.
Thank you.
Is that a good price for me as a buyer? I respect the opinions of this forum and would like any opinion about this deal.
Thank you.
0
Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
GTS
Look at the population of 1924 Saints
I also tend to pay a little extra to get a better date for type purposes. In this case, I would make the excepction. In my limited experience, the common generic 1920's Saints in 63 come with nicer eye appeal than the common date 63's from the 1910's, which tend to be pretty hacked up. Would someone with more experience please confirm/refute my observation?
$625 is probably ballpark for a reasonable price. The best way to confirm is to look at the Heritage auction archives. They sell a ton of these every week, so their data is as up-to-date as can be.
But if it's nice coin and he's been good to you, all we're doing here is splitting hairs that don't amount to anything.
<< <i>PCGS alone has graded over 37,500 1927 $20 coins in MS64 or higher (probably as many in MS63 alone). For less than $50 more you can buy a 1910 in MS63 which has a population of 1217/623. A much better buy in my opinion.
Look at the population of 1924 Saints
IMHO it really is a moot point. The pop difference does seem large, however, BOTH dates have more than an adequate population and saying that the 1910 is a "better date" is kind of silly. Just how many collectors do you think are putting together date/mintmark sets of $20 gold pieces?
1. The grading for common date St. Gaudens double eagles is all over the place. I've seen MS-63 graded coins that range from coins that should have gone into an MS-64 holders to coins that should have gone into an AU holder that were ugly as mud.
2. Gold bullion is high right now. If it goes back down to a $300 ish number, there is a 100% chance that you will lose money. These coins are near one ounce lumps of gold with a moderate numismatic premium.
GTS
Saint Registry set
These coins are near one ounce lumps of gold with a moderate numismatic premium.
Most type coins from the 19th century regardless of grade are lumps of nickel, copper, and silver too. The $20 Saint gives you a collectable coin that appeals to coin collectors but also offers the potential leverage to gold bug investor types. The chance of gold going higher from here rather than lower ($500 vs. $300) is far greater imo. Nothing has yet to be corrected in the current economic situation. A lump of gold it may be, but highly desirable and liquid it also is. Go try and sell your some of your other coins at a show and you'll see the difference in liquidity and % margins. A 5% or less margin on a Saint is routine. A 20-30% margin on regular (non-bullion like) coins is also routine.
roadrunner