Are Double Eagles Easing Back Down?

I'd never buy a vintage coin sight unseen, I just wouldn't. I've bought from pics on ebay plenty but just to buy, like from the link above, no way Jose! Just because a coin is graded MS62 doesn't mean it's a great looking coin at all. There's plenty of coin shows in my area where I can see and buy what ever catches my eye. Wouldn't it be a crazy world if we all bought coins the same way? Yeah that would be crazy!

 

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Generally I agree but there's really not any risk to it in the case of the link. You're essentially just buying fancy bullion where the best looking one and the worst looking one are going to cost basically the same.

It's very likely not a great looking coin, thats why its a 62.

 

That link is for $2030 Double Eagles and melt is $1770 on those coins. That is more like $260 over melt. Where do you get DE's for $200 over melt?

 

That's not that great of a savings in my area, I bought a very nice 1924 Saint Gaudens for $30 over spot, it happens more than you think!

 

I would like to know where to get them for $30 over melt. That would be $1800.

I need a Ty2 and Ty3 Liberty DE and would like to pay $30 over melt.

 

I was very lucky that day as the coin shop wanted to make a sale! I think he gave me that break more for him than me, as gold was over $1900 at the time and the pandemic had just started. It doesn't happen all the time but I bet if you're a very careful buyer and you buy in California you can get some very sweet deals.

 

Edit: never mind, apparently missed the fact that I was on the first page of a multi-page thread.

 

He might have, but very likely that was just the price he had on it all along and didn't adjust it as spot moved up.

 

Recent Pricing Of Saints: Even with gold backing off in recent months, generic Saints have been bid up. I'd say overall MS-65 commons up about 10% from year-ago levels.

Quasi-numismatic Saints ($2,500 - $5,000) also up 10-30% depending on grade.

Pure numismatics (including High Reliefs) up about 20%.

 

I think the premiums we are seeing on Double Eagles in general and Saints in particular are a result of the increased bidding activity that we have all read about...the online activity that extends to Ebay...coin auction sites....gambling....NFTs.....baseball and other cards...etc.

More people being at home and being on PC's also plays a role.

 

Roger Burdette's Saint-Gaudens Double Eagle book does contain some guestimates on the totals melted down and/or potential known/unknown survivors.

 

I found them at 2020 FUN -- bought an MS-63 1915-S for a few $$$ over spot.

Keep in mind that a Double Eagle (Saint or Liberty) is 0.9675 ounces of gold, not 1 ounce of gold, so even if you pay spot you are paying a premium in effect.

 

They aren't limited, in many cases you have tens of thousands or hundreds of thousands of coins for those years.

Where you WILL see a premium is in the condition rarity coins, common or rare coins in a high grade that commands a premium.

MS-67 1924's or other common Saints will cost you about $12,000 or more. But in MS-63 or lower, basically spot price of gold, give-or-take. There are HUNDREDS of thousands of 1924's at the MS-63 and lower grades.....but only a few hundred serious collectors and maybe 25,000 "type collectors" who need/want them (and usually in the higher grades).

That leaves the rest for bullion investors who use them as substitutes for modern gold coins.....and they are priced to compete with them, basically at the spot gold price (give-or-take a few bucks).

 

Depends on the year, mint, and the grade.

Some years there were up to 6 million minted (1904-P) but other years just tens of thousands or low-thousands and even only a few dozen, proof-only years.

Grade and/or mint (Carson City coins are very pricey) can drive up the price to low-to-high 5-figures.

 

millions per year in the 1850s

Liberty Double Eagle Mintages

 

And often way way less.

Mintages and survivals are highly volatile, more so than for Saints.

 

One year I think 71 (proofs) were struck only.

 

yeah i was just thinking it would be cool to have a regular 1851 or 1852

 

Weird they are missing 1848 on there.