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$20 Saint price in 1970???

aus3000tinaus3000tin Posts: 369 ✭✭✭
in U.S. Coin Forum
What was the price of an average $20 Saint in 1970?
Seems gold was at $30/oz.

Thanks,

Chris

Comments

  • dan383dan383 Posts: 812
    I bought a 1924 saint in 1970 for $67.50............
    I bought it with 8th grade graduation money !
    The guy wanted $70 , I offered $65 , and we met in the middle.................

    I also bought 2 original rolls of 1900-o morgans for $35 per roll ,
    I flipped those for $75 each at a antique show which had some coin dealers .
    The morgans paid for my saint plus some 2 1/2's I also bought................





    Dan
    Fishing is not a matter of life and death.......It's much more important than that........
  • ttownttown Posts: 4,472 ✭✭✭
    Yes that's the big lie those comparing the price of gold with the stock market make. Gold was controled until 1974 so 34 years isn't much of a track record for the PM. Those wanting to bash it alway take the high of 79/80 and say "see it not a good investment over time". Well time is always changing and if this was a coin 1974 would be a no account modern coin.

    I'd say in the next 50 years we'll see where PM's are. Times are changing with the free market and a good bull run like the stocks had for so long could very well close the gap on stocks as a whole. Trends are important and bull runs last 15 to 20 years on a good one. Gold hasn't had the history for that yet. Time will tell won't it?
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Gold was controlled since 1974 and pretty much left alone until its peak in 1980. Even Volcker has said that he should have kept gold down during those times, but didn't. It would seem that Greenspan took that advice and has worked on gold hard over the past 10-15 years.
    You could say that 1976-1980 pog was no aberration, but the controlled gold market of 2001-2008 is not yet reality.

    The 2nd biggest lie in stocks is how much credit and monetary increase it took to propel the Dow from 1000 to 14000. The inverse of this is how much gold did the Central Banks have to sell to keep the dollar propped and gold at bay? Some say up to 15,000 tons of CB gold went by the wayside (ie 50%) over the past 15 yrs and is probably now represented mostly by jewelry. In other words it cannot be brought back quickly or even slowly for that matter.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • CocoinutCocoinut Posts: 2,515 ✭✭✭✭✭
    I bought my first Saint in June 1968 for $75, a 1927 with beautiful creamy luster. I wish I still had it.

    Jim
    Countdown to completion of my Mercury Set: 1 coin. My growing Lincoln Set: Finally completed!
  • droopyddroopyd Posts: 5,381 ✭✭✭
    damn, shoulda bought one with my paper route money! i made about $5 a week back in 69....
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • OverdateOverdate Posts: 7,160 ✭✭✭✭✭
    I posted this earlier, but seems relevant here also:

    I was writing for a small newsletter in January 1970 and made the following comments in a column:

    The most heavily traded gold coin in America today is the $20 gold piece. Each coin contains one ounce of gold . . .

    During the monetary crisis of 1968-69, the price of gold hovered around $45 per ounce, and $20 gold coins were selling at $80 each - four times face value. Now, however, the monetary situation has quieted down for the time being; and massive sales of gold in Europe have forced the price back down to $35.

    As a result of this decline, the price of $20 gold coins has dropped sharply. They are now available from some dealers at $49 each.

    My Adolph A. Weinman signature :)

  • PerryHallPerryHall Posts: 46,881 ✭✭✭✭✭
    I bought my first Saint in 1965 for $47 from a mail order ad in Coin World. I got a nice 1927 $20 in what would now be called MS64. Wish I still had it. image

    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

  • Oldtrader3Oldtrader3 Posts: 121 ✭
    You could buy them at the Royal Bank of Canada in 1970 for under $50. each for BU rolls.
  • COALPORTERCOALPORTER Posts: 2,900 ✭✭
    1972 Redbook - $75 in UNC for the common years.
  • MFHMFH Posts: 11,720 ✭✭✭✭
    My 1970 Red Book says they were $110 in UNC.

    edited to add: the 1971 book says they were $85 in UNC

    Mike Hayes
    ~~~~~~~~~~~~
    Coin collecting is not a hobby, it's an obsession !

    New Barber Purchases
  • ManorcourtmanManorcourtman Posts: 8,206 ✭✭✭✭✭
    Man don't you wish you could go back in time for a little shopping spree!!
  • hrlaserhrlaser Posts: 1,133 ✭✭
    1970.. i was in College and spending money on records and girls and concert tickets.. still have over 2000 vinyl LPs in the closet, don't have any of the girls, have an envelope full of concert ticket stubs.. and wasn't buying any coins back then.. Saints for $70.00.. image
    "I won't be wronged, I won't be insulted, I won't be laid a hand on.. I don't do these things to other people.. I require the same of them.."
    - John Wayne, "The Shootist" (1976.. his final film)..

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