At what grade level do gold coins excede spot gold prices?

coinbuf

I am not much of a classic gold collector myself but have offten wondered at what grade does the coin become more valuable then the gold content itself? MS, AU, or lower? Just talking about common half eagles, eagles and double eagles as rare dates/mm are worth more in almost any grade.

OnlyGoldIsMoney

It depends on the coin.

The lowest grade coin in my set is F12; if another could be found it would sell for many times gold spot.

PTVETTER

Most are worth more than melt unless there is a problem with the coin. The level above spot may not be too much but just the same its more than melt.

BillJones

With common date Twenty Dollar Gold Pieces, I'd say you are pretty close to melt at the EF grade or lower. Most of the time these coins will bring a minor premium above melt, but it won't be much, only a few dollars.

Believe it or not there have been very brief periods when circulated $20 gold coins have sold for less than melt. The perception among coin collectors and dealers was that gold bullion price was too high and headed for a major correction. This happened for a week or so in the early 1980s. I can't remember the specific year. The numismatic people were right and the price of gold bullion did fall big time. Anyone who bought one of those "less than melt value double eagles" lost money, at least for a few years.