Been a few years I think since I posted here. I picked these up recently to build up the gold vault. Both were bough from Apmex on eBay under favorable conditions (very close to spot). Both were sold as "Random Date BU" coins. The 1924 Double Eagle is from a very HIGH mintage and has little numismatic interest, I guess. The 1904 Eagle, though, is from a fairly LOW mintage. Sources I have seen online seem to indicate a base value well over melt, even in low condition states. So what do you guys thinks? Sorry for the poor pictures but I still haven't mastered photographing very shiny coins! Are these actually "BU" (meaning low MS right?). Either look worth grading to see if worth appreciably more than melt? 1924 Saint Gaudens Double Eagle $20 Gold 1904 Liberty Eagle $10 Gold Comments are welcome. Rob
I have made several similar purchases from Apmex and always been entirely pleased with what I received. St Gaudens are always beautiful. But that eagle looks choice. Nice!
A lot of folks think that just because a coin is old it is valuable, over and above its metal value. The think the age of the coin and the fact that it's not made anymore gives it numismatic value. But this is not the case at all. Take Saints for example, or Libs, in any denomination. Common date examples of these coins, even those slabbed and graded as high as MS63, and even MS64 in some cases, typically sell for about 10% over melt value. And sometimes even less than 10% over melt value. I have even purchased them for less than melt in some cases. And they have sold in this price range for decades, and likely will continue to sell in this price range for decades. The same thing applies to gold coins, and silver too, from countries around the world. Most of them are thought of as being little more than bullion. You can literally buy them for about the same price as you would a small gold bar of the same weight of gold, and or silver. Many are surprised by this, nonetheless it is true and always has been true. It is only when a coin of a given date/mint, denomination, country has some scarcity and is of a high grade for that issue (and high grade can vary from VF on up in some cases) that the coin has numismatic value.
I would say they are not worth grading and agree with GDJMSP - the long-term value of these particular coins are going to be limited to about 10% over melt.
