Are roman numeral dated gold eagles worth a premium?
PutTogether
Posts: 2,141 ✭✭✭
I recently acquired a sack of 1/10th oz gold american eagles and noticed that one of them is dated MCMLXXXVII (1987). I know they used the roman numerals as dates until 91 or 92. My question is if these older coins trade at a premium or are they still "just bullion"
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At this point in time the only premium is for the BU 1988 $5 AGE, which will run in the $300 range for a PCGS MS-69, or about 3X spot gold. I don't see any problem getting the lower grades for any of the "bullion", but for the years 1995 back it seems that more and more of the MS-69 are turning into MS-67 - MS65. Just go to your local shop and look through what your dealer has to offer. If you can pick up the roman numerals dated coins in MS-69 for spot gold, then you have done well, because it is just a bullion play.
I recently picked up a 1989 half ounce mixed in with a lot of 2005-2008s that was MS-69 IMHO. When doing this make sure that the coin is really a MS-69. In this example the 1989 was better than any of the 2008 coins that had just been minted. Look at the coin as if your expecting it to come back as a MS-70, and then when it comes back as a MS-69 you will be happy. That principle can be applied to just about any coin you wish to buy when it comes to the grade. Of course, mintage, toning, series, etc. all make up the rest of the equation for buying a coin.
JIm
I have never seen a premium for ANY one ounce AGE, because of the high mintages. They are bullion. You buy and sell as such. Maybe another 20 years down the road of time that will change. At the moment the only premiums on AGE are the fractionals, and then only a very SELECT group (e.g. 1991 half). It is my suggestion that if your just buying bullion, and you can get a better date at bullion prices, then do it. That seems logical to me.