What do you guys think? I recently saw someone's $20 in person and it made me realize how nice they are and why they're so popular. It made me wish I would have bought one in 2006 before they took off. I know most of them are pretty much tied to the spot price so I guess this question is like another "will gold go up or down" thread. They're pretty steep right now but what do you guys think? Will they continue to climb into the future or is everything just really hot right now? Maybe it's a terrible time to get one.
Buy a certified coin from a reliable dealer and you can't go wrong. The $20 Saint is a staple of collecting and is always welcome by any dealer. Best of all, as long as you own it, you get to look at the actual coin and not a picture of a coin.
Only you can make that decision. Do you have the extra money to buy one now? Go for it! Not too long ago I pulled the trigger on both the Mercury Dime and SLQ gold commemoratives and I didn’t give a rip what the spot price of gold was. I wanted the coins and had the extra money to buy them! If your intention is to hold the piece as a valued part of your collection, in my opinion the bullion question is moot.
Never a bad time to buy gold. Don't price PMs in fiat - price them in gallons of gas or automobiles. Cheaper now than in the 1930s.
Yup, don’t blame you. I picked them up from the mint and had them graded. Came back SP70s. Got the half later on already graded. I consider them part of my US type. All three are amazing. Love the color and the finish.
Are you buying a generic common in medium grade that will track bullion....or a numismatic coin selling at a premium ?
I’m interested in a 1928. It’s the highest minted gold coin the mint has ever produced at 8.8 mil and they were supposedly well made. Many remain in high grade so I’d want a 64 or 65 at least if I’m going to get one. I also find it interesting that the years surrounding it are 5 to 6 figure coins but that year is affordable thanks to the high mintage. Shouldn’t be hard to find one.
I'd suggest your objectivity may be distorted by the relative value/cost of a Gold to a generic Silver coin, rather than % premium above intrinsic value (i.e. melt), mintage quantity, resale ease/gain/loss, store-house of equity relative to Fiat currency. I suggest if you go to probably the best comparative site for acquiring a most common raw Double Eagle (i.e. 1924) versus Morgan (i.e. 1921), believed eBay you'd be surprised, upon evaluating objectively , what a relative bargain is the Double Eagle. JMHO
Some good commentaries on the 1928 in the HA archives and also in Roger Burdette's book. Remember, it's survivorship not mintage that matters. BTW, an MS-65 sold for about $2,500 including bp. a few weeks ago. MS-64's selling for about $2,100-$2,200.
Here are a couple of charts that show the price for another generic common year. You can see that while it's not a 1.00 correlation, when the premium is NARROW it's tended to be a bad time to buy and when it's HIGH it's been a better time. That said, I'd be a buyer here regardless of the charts:
just make SURE they are REAL! I had three over the years and because there are so many "COPYS" out there I got cold feet and sold them for a mild profit.
When do you pick and choose to buy home-owners' insurance or car insurance? Is there ever a bad time to purchase insurance for those items?
I bought all mine 15-20 years ago when the melt value and the premium over spot was very low. Even TPG coins could be picked up at about 5% over spot for MS-62 - 63 coins.
Gold hasn't been "insurance" for non-existent inflation or financial turbulence in 40 years. SWFs, the rich, and institutions have deeper and more liquid alternatives.
For those coins with some numismatic value, you rarely can get them for just above melt and a low premium . It's usually one or the other as the charts above show. For me, I just buy a coin I like at what I consider is a fair price. If I were SPECULATING on the price of gold, I'd buy pure bullion or the Saint equivalent. Then you have to market-time and I'm just not into that. I buy-and-hold....and since I'm holding, I may as well enjoy the coin while looking at it...hence why I am partial to the numismatic Saints first....then bullion Saints....then plain bullion.
Buy it because you want it and can afford it — not because of what you think the price of gold will do. It’s a collector’s coin and a piece of US history, not a bullion coin. If you want a bullion coin, buy an American Gold Eagle.