Advice on Double Eagles Requested
santinidollar
Posts: 1,056 ✭✭✭✭✭
Your humble narrator is somewhat stumped.
OK, really stumped.
The dilemma is this: Either buy a fairly common date Liberty or St. Gaudens in a high grade — or search out a less common (perhaps “better date”) in a lower grade — perhaps out of the MS grades?
I’d love to hear some observations and approaches from you more-experienced folks in this series.
FYI, I own an 1898-S and a 1914-D and considering adding another.
Thanks in advance!
1
Comments
It has almost reached the point of whether you want a bullion coin or a collector coin. Common DE's even in low MS are pretty much bullion now, or being sold at very close to bullion prices.
Pick one based on how it looks.......you'll keep it forever that way.
bob
Go with something less common, like 1910 MS 64 PCGS CAC. Maybe $2,200 or so.
He who knows he has enough is rich.
Find the eye appeal you attracted to ..... semi hard date at the best grade within your maximum's
Spot is fairly reasonable so have fun collecting
I faced the same issue. I picked up a $20 1914 S ms 64 CAC a really nice coin for the price. For the Liberty $20 I going to buy a MS 63 any date in my price range except the 1900 or 1904.
Go with eye appeal, graded and affordability. Right now you're able to get some pretty nice numismatic DE for close to melt. Good luck !!!
Thanks all!
Much depends on whether you are collecting for your own pleasure, buying for later sale or stacking. If for your own pleasure, buy the most attractive one you can afford... if for later sale, high grade and CAC... stacking.. the cheapest bullion. Cheers, RickO
I would buy nice ones close to melt. That’s expensive enough as it is. Go for pieces you like good strike, nice luster, no spots or unattractive toning. Be careful of anything looks puttied. If buying CAC be familiar w what the CAC bid is in the sheet to avoid over paying.
With decreasing pop of collectors, bids going down I question if numismatic coins have any future. Classic commem 48 piece set in MS65 dropped significantly in the sheet (about 7pct) this past month. These coins already so cheap it’s almost a crime not be bulking up on them. Throw some classic commems in as desert w your DE.
+1
To the OP: Based on the way the question was phrased, my answer would be: buy neither.
You appear to be asking in terms of price appreciation. As @philographer points out, the collector base may be shrinking which makes any collector premium risky. Since you asked about "better date" or "higher grade", I infer that to mean "collector coin". I would hesitate to buy either. The bullion play is safer - though not risk free - so 64 or lower common grade.
Comes down to preference. I would buy a common date blazer for just over melt over a less attractive slightly less common piece personally and down the road the blazer will probably be a little easier to sell. Just like it for what it is a beautiful piece of art not anything rare.
Thanks again to all!
I’m really looking at this coin as a collector purchase. I do invest in gold with good old American gold eagles.
Try an AU type 1 or type 2 Lib.
Then I resort to neither. If you don't have a clear sense of what it is YOU want to COLLECT, then don't buy anything until you do know. Buying either coin could result in a long-term loss. YOU have to want to COLLECT the coin.
Granted not all 64s look like this, but I'm in this actually below melt if I'm not mistaken (the way the trade worked out)
But to find a 64 or better with patience, you can have a beautiful coin for a great price in my opinion...
Picture in my next post:
My YouTube Channel
My YouTube Channel
Maybe buy something with history, a nice circulated Carson City.
Once again, thanks to everyone! You folks are great.
I bought an ms64 1907 $20 lib and $20 St. G.
Just liked that one was the end, and one was the beginning, same year.
They were not much above melt.
Okay, here I disagree. The 1910 has a PCGS population of ~1,600 in MS 64. The 1924 and 1927 have a COMBINED population of 150,000 in MS 64. 1910 is a much better date. It’s not rare, but it’s also not $90,000! And it has a bit of cachet.
Now OP could buy a generic Saint in 65...also a good value today in relation to the price of gold. But when it comes time to sell, it will just be a generic. A 1910 is a coin!
He who knows he has enough is rich.
If buying a DE as a "collector purchase," (as stated), then I would purchase a 64-65 example with a nice skin and luster that shows of the design well. If you can get a lower mintage date, so much the better.
Here's mine, a 1910-D (my Dad's birth year) with a mintage of <500k.
I agonized over the subject myself. I finally decided that collecting double eagles was simply not a financial possibility for me. Purchase of double eagles for me is just a way to hold bullion that I'll cash in on peaks. Consequently, I buy the PCGS certified common date MS63s, when I buy a double eagle, avoiding ugly coins. This grade tends to be very close to melt if you shop around. Once you get to MS64 or above, or less common dates, you start to pay a numismatic premium.
Lets see a side by side picture!
My YouTube Channel
Once again, thanks! The response has been overwhelming and informative. You folks are great!
I just bought a st gaudens today, ms-64- excellent eye appeal, earned 100 e bucks
from a bullion point of view by the common date. From a numismatic point of view by the more collectible.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Last week I would have said watch 3 dates but the 1920 in MS64 just "popped" in price so now I'm saying watch 2.
1913-D & 1912
Buy a CAC looking coin without a CAC sticker in MS63 or MS64 at least a couple hundred under PCGS price.
I think these are the next 2 to go up
The reason they will go up is because date collection people need them to fill a hole & these are the 3 "hardest" of the 4-figure coins.
Consider crossing one over from NGC because they are cheaper.
Pick one date and look at everything from MS60 to MS67 in that date so you can grade them without looking at the holder.
Check out the 1920 in MS 63 also...If you can find a good one.
EDIT....A 1909-s is another good one.
Probably 4th on difficulty among date set 4-figure coins.
This one looks nice. (PCGS price $2,650 & might even CAC???)
https://www.apmex.com/product/155605/1909-s-20-saint-gaudens-gold-double-eagle-ms-64-pcgs
My Saint Set
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@ACop You want to handle this?
Do you have a specific recommendation for the OP along with an explanation as to why you think it's the best choice.
Aren't you a blow hard bullion salesman who couldn't cut it in the business of numismatics?
My Saint Set
I dont.
I'm not.
It wasnt me.
No CAC sticker that will only cost you more $$$, not graded it will cost you more $$$, Now buy a very nice coin in high grade raw then you send it in for grading and see what you bought. Now that is fun to me and you got it at a discount. But that is just dumb me Type2 thinking.
Hoard the keys.