Hey guys i have always been dreaming about getting a decent ms60+ st gaudans gold 20 dollar piece. Over the last few years I have managed to accumulate 1.2 ounces of gold in small bullion gold coins such as canadian and american 1/10 ounces etc. Since my birthday is coming up I was thinking of going to the dealer exchanging my 1.2 ounces of gold and paying a 200 to 300 hundred dollar premium to pick up a ngc or pcgs graded st gaudens common date piece in preferably ms 61-63. My only fear is I have purchased that same gold from my dealer as early as 1 month ago to back when gold was 670 dollars an ounce. Anyways however what do you guys think?
I'm looking into a Saint as my next purchase, in atleast MS-63, all though I'm shooting for a 64. They are truly beautiful coins.
I thought that you pay a higher premium on each fractional coin when you buy gold. I mean a 1 oz. gold coin would be cheaper than 4 x 1/4 oz coins or 10 x 1/10 oz coins. I would try to trade my fractional gold for a single 1 oz coin and try to get some money back. The dealer you sell to will usually sell each coin you trade him for more than it's gold value so he'll be able to make more on the quantity of sale rather than the one larger denomination sale. If that makes sense. Of course, the grade of the one oz. gold coin means a lot when trading up. But, still, think about the quality and worth of the coins you are selling/trading before you sell "oz. for oz." Bruce
No lol, meaning I have bought fractional bullion from as early as one month ago to as late as years ago when gold was 670
High probability that I will get my dream coin next weekend (5 Mar). I already have two Saint-Gaudens for my type set (No Motto and Motto). IF I get my dream coin I'll post it in here along with a couple others. I just got a Booker T. Washington early commem from Teletrade. And I'll also pick up another IHC for my set at the 5 Mar show.
My dream coin is gold BUT 90-95% of its price is numismatic. Gold spot has little impact on its cost.
Right now lower ms grades sell for very small premiums over melt, so I think it is a good time to get one.
I think a common date Saint in MS61-63 is a bad idea. In those grades, a Saint is a very baggy coin - often unattractive, even considering the fabulous design. We're talking about a commodity here. Generics. "Low gold". If you look at the cost vs. price curve, you will find it to be fairly flat all the way from doggie grades (say VF) up to MS63. Heck, there's only $50 difference between a 61 and a 63, so why would anyone buy a doggie 61, when for 3% more, they can move up two slots ? Never buy a common date 61. Now take that logic one step further. The first "bump" we see in common Saint pricing is between MS63 and MS64; that's the first place we see the flat curve begin to get steep. But here's the good news - it's a small bump, maybe $90 - $100, which is about 6%. But here's the kicker - one can find very attractive, magnificent MS64s. After all, that's near gem - or should be. The small increase in price is more than compensated by the tremendous increase in quality. In fact, the first big bump is from MS64 to MS65 ($450). That's a great place to be - immediately below the first big jump. For one thing, if you get a really nice one, later on someone might offer you a premium thinking they've got a shot at upgrading it to the Big Money MS65. In fact, you might have a shot at upgrading it, with the attendant $450 bonanza. A nice high-end MS64, at 64 money, is a beautiful, flashy coin with few bag marks. That's what you want. Heck, the major investment is not the collector premium; it's the fact that it's almost an ounce of gold at $1400/oz. Since you have to foot that bill for even the ugliest Saint, why not throw down 6% more for a premium coin ? Avoid MS60-62, then move up from MS63 to MS64. Wait for a really nice one and pull the trigger.
Thats the best advice I have ever recieved. Thanks you very much for your insight. My dealer has sent 6 saint gaudens to be graded by ngc last week. he expects ms 60-65 for all of them. As soon as he gets them I will get to buy my pick from the litter. i will definatly be choosing the higher grade with the expcetion of a 65(cant afford that). My dealer sent the coins to ngc last week and he said he will give me a call when they arrive. I will post the picture if I purchase the coin here as well. P.S when do you think the coins should arrive to my dealer?
I already have the gold in smaller pieces. Im just paying the premium. What price gold is near has no effect to me
