Common Date $20 Saint Gaudens

stevepk

I understand price guides are just guides, but how much should I expect to pay for a common date $20 Saint Gaudens in PCGS MS63? Gold today is $1,548 per ounce. I've done some comparative window shopping, and it looks like $1725 is about as fair as I should expect. However, my conversation with a gold buyer suggested differently. My telephone conversation can be summarized as:

Me: Hello, do you carry double eagles?
Gold buyer: We do. What are you looking for?
Me: I'm looking for a common date PCGS MS63 Saint Gaudens
Gold Buyer: They really aren't worth anything despite what people think.
Me: So how much should I expect to pay for a PCGS MS63 common date double eagle?
Gold Buyer: Full retail is only about 5% over spot.
Me: So you're saying I should expect to pay 5% over spot?
Gold Buyer: No more than that
Me: Do you have any in stock?
Gold Buyer: No

I called five or six gold buyers today. Some didn't even know what a double eagle was. My logic was that gold buyers have to sell gold after buying it to stay in business.

Staircoins

Sounds like you're calling the wrong kind of "gold buyer".

Most of the "We buy gold" folks are looking to buy scrap jewelry, broken necklaces, old class rings, etc. They don't deal in numismatic or generic gold much or at all - and you can forget about TPG-certified coins. Pre-64 silver coins is as close as many of them get.

You need to call one of the dealers in generic gold.

golfer72

Check the prices on APMEX for generic gold.

DaveG

"Gold Buyers" usually only buy gold from the public, they don't sell to the public. They usually send the gold they buy to smelters or people who know something about coins.

You'd probably have better luck monitoring sales on eBay or talking to a coin dealer who has a fairly large operation (assuming you're interested in more than one coin, that is).

Or, you could buy a copy of the weekly edition of the Coin Dealers Newsletter (the Greysheet), which lists wholesales prices for generic gold coins in a variety of grades on the front cover.

ChrisRx

There is a South Park episode you need to see...

steveben

<< <i>
Gold Buyer: They really aren't worth anything despite what people think. >>



i beg to differ.

DeepCoin

APMEX is a good source for generic gold. Interestingly, PCGS MS 63 Saints are going for $1,822.75 and NGC for $1,777.75 so there does seem to be an adjustment for grading standards. As I write this, gold is currently $1,573.80 Ask. PCGS 65s are going for $2.125.