St. Gaudens - are they really worth melt?

thezookrew · November 17, 2009 4:11AM

I have seen on occasion on the boards that common lower grade St. Gaudens $20 are worth just over melt. Is this still the case? The reason I ask is about 7 months ago I picked up a 1907 $20 at spot (around $790 at the time) from the B/S/T board (just so you know that the coin SHOULD be genuine). It looks UNC but with a lot of chatter to the point it is probably an MS60. What would be the premium on a coin like this (if there is any)?

PTVETTER · November 17, 2009 4:40AM

better than spot that is for sure

CoinJunkie · November 17, 2009 4:42AM

If that...

BillJones · November 17, 2009 5:21AM

I've seen brief periods where circulated $20 gold coins sold at less than melt. The reason I think was that coin collectors didn't have much faith in the bullion gold price and thought that it would soon be falling. It seems odd to think that many people would believe that is true now, but time will tell.

At any rate common date $20 gold coins (mostly the St. Gaudends dates) that are marked up and unattractive don't get much respect for collectors. Collectors want pretty coins, and with the common dates, attractive coins can be located. You don't have to ugly coins to fill those holes.

BECOKA · November 17, 2009 5:54AM

technically they are worth less than 1 ounce of gold. But numismatic value bumps it a bit so in reality it's worth more than melt.

MrEureka · November 17, 2009 6:05AM

MS 60 Saints are worth about melt +$250 at the moment.

St. Gaudens - are they really worth melt?

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