Featured A Brief History of the 1907 High Relief Double Eagle

Looks like it is down about 30% from 6-7 years ago....and maybe 15% from 2 years ago. Seeing some sales just under/above $10,000 not sure if it includes bp.

 

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1907 High Relief inventory: FWIW....I saw none at Legends, 1 at Stacks, 61 at Ebay, and 8 at Heritage (with another dozen or so coming in December/January).

 

Looking at PCGS Coin Facts, here are the grading statistics for the 2009 High Relieft $20 gold:

MS-70 8,825
MS-69 9,131
MS-68 132
Everything else in MS-67 to MS-63, 47

As you can see for this coin, any grade lower than MS-69 is "low grade" at least for the coins PCGS has seen.

So far as values go, PCGS price guide prices are:

MS-70 $2,700
MS-69 $2,500
MS-68 $2,375

Recent auction prices:

MS-70 $2,400 to $2,760
MS-69 $1,920 to $1,860
There are no recent auction results for MS-68, but as you can see, the "real number" has got to be several hundred less than the PCGS price guide.

 

I almost choked when I looked at the first statement showing 132 for the MS 68. Then I looked farther down. The history of my 2009 is that someone bought it from the Mint, and then had it graded. He didn't like grade, so he sold it to a local dealer for a little of $1,000. I paid $1,300 for it as it was my first purchase of a gold coin, plus I was a novice, at the time it seemed a good deal. My dealer was direct, telling me that the coin would be questionable by many collectors. I bought it anyway. It will never leave my greedy hands as long as I'm alive. My son will be my only survivor, unless I die before my wife. I've told her that if I should die first, sell it only if she needs the money (she will never have that problem). My son, nor my wife is interested in my collection. I may leave them all to ANA.

 

FYI....I have room in my closet.

 

Someone told me to crack it and go to NGC for a regrade. I don't know that much about regrading, but it would seem that most of the time they get a lower grade or the same grade. Anyway, I'm going to keep it. I do have a question tho. I have about 20 items in SDBs. I live about 20 miles out of town in a secluded place. I have an urge to look at them time to time and going to a SDB is time consuming as well as the credit union people remember me. I went to the CU twice last week. While I'm looking in my SDB, they have to just stand there. I'm not afraid of robbery, just don't like their attitude.

 

SDBs aren't as safe as led to believe. You should definitely check out all your stuff and inventory it at least once a year.

 

Thanks for the info. I think my CU is tired of me by now because I visit them almost monthly. I have a safe in our home that's secured to the foundation, plus a pit bull mix, an Australian Shepard, and a Rotw-whatever mix. If they came to the house they could lose fingers, toes or hands.

 

You know what you can do with your 1 or 2 or 3 most valuable coins, probably safer than the safe ?

Just hide them in a location that nobody would ever thing to look. We've all got nooks and crannies that a coin slab can fit into. Not like holding a gold or silver bar weighing a few pounds.

 

At 72, I worry that I will forget where I laid them. I'm still looking for my cane,

 

So...when you sell your home or your estate does....you have a great marketing gig: "Buy the house, find valuable coin prizes !!"

 

Hey! I never thought of that.

 

FYI.....six 1907 High Reliefs (grades of MS62-65) go on sale tonight at Heritage.

Auction starts at 6:30 PM EDT....the coins probably go on sale about 7:15 PM or so (180 items in). I'd check in about 7'ish if interested.

 

How much do you think they will go for?

 

Auction of those items just ended....mostly in the 20's. I'll post the details ASAP.

 

Auction results for 1907 High Reliefs:

 

Interesting article in CoinWeek on 2020's Hot & Not coins:

https://coinweek.com/us-coins/classic-us-gold-coins-whats-hot-and-whats-not-2021-edition/

Doug Winter, a specialist in gold and double eagles, wrote this regarding the 1907 High Relief Saint, one of the trophy coins he says is losing steam:

"...In 2019, an average quality PCGS MS63 1907 Wire Edge High Relief $20 typically sold for around $20,000. In late 2019/early 2020 a substantial hoard of High Reliefs in MS63 through MS65 came onto the market and prices dropped to $14,000-15,000 by the middle of 2020. Prices rose slightly towards the end of the year but these are likely to remain flat in 2021."

Does anybody have any comments on this ? I agree with the general thrust of 1907 HR Saints falling in price, as I've been posting them in this thread and a few others.

But I was unaware of any "hoard" or even a floof of MS-63 through MS-65's suddenly hitting the market all of a sudden (although my previous comments about demographics and inheritors/estates selling coins from original or 2nd-hand owners would be increasing could explain a surge of supply).

I also would say that MS63's were going for a total price closer to $18,000 and MS65's closer to $25,000 - $30,000 (see posts above). I was tracking the prices pretty closely for a while and one can always check the internet for actual sales prices.

 

Another factor to consider is "grade-flation." I have not been shopping for a 1907 High Relief for a long time. I don't know if the services have relaxed their standards, but if they have, that will lower prices too.

 

Excellent point, JM....one thing is clear...at the very high-end (MS-66 and above)...prices have held flat or even increased.

For those with the $$$ buying the best of the best, the trends for Gem or lower-quality coins are irrelevant.

 

A 1907 High Relief MS65 CAC Flat Edge went for $67,500 tonight on GC with very active bidding.

Premium Saints and High Reliefs are holding up nicely price-wise.

Keep those stimulus checks coming !