Hi totally new to this forum, I collect comics and jewelry for the most part. I have this one (yes 1) coin that I am looking to sell. Its a 1908 $20 dollar Gold Saint Gaudens and it was set in a 18K gold pendant frame. I was having trouble selling it on ebay while it was set in the frame pendant so I (gulp) pryed it out of the pendant. Overall the coin is in great shape. It was my dads and he smuggled it out from Cuba in 1961 in his shoe. Its been in the pendant ever since until I just pryed it out. Damage is on the rim/side of coin in one particular spot. See picture #3. These coins roughly sell for $1100-1400 on ebay. Im just wondering how much did I decrease the value with this damage.
Just looked up the melt value for a St. Gaudens and it is $1209.76 so, even if you cut it in half, it would have this value.
That's a shame. It looks like the coin was in pretty good shape, even after being "walked out" all those years ago -- but it was likely damaged when it was put into the pendant, even if you hadn't scraped it further when getting it out. This is a fairly common year for the St. Gaudens double eagle, though, so it's not like taking this out of the pendant (or putting it in) was a great numismatic tragedy. These coins don't get much of a premium over their intrinsic gold value until they get into higher uncirculated grades. The current gold value of this coin is $1208.50. If you try to sell it to a coin store, they'll offer less than that, because they have to make money when they sell it. If you offer it to a jeweler or pawn shop, they'll pay even less. If it were undamaged and in its current condition, you'd probably be looking at about the same money. Edit to add: given its back-story, I'd say its sentimental value to you is probably important, too. But I can understand that $1200 is a lot of money to keep frozen for sentimental reasons. Welcome to CoinTalk!
Thanks for the quick responses! It does have sentimental value but my kids (millennials) dont really want it or theyre afraid theyll misplace it at some point, thus I figured Id sell it as I could use a new laptop. I will try my luck on ebay and let you guys know how it goes.
It looks good to me. The St Gaudens are very pretty coins. There's far worse things that ppl do to coins than put it in a jewelry bezel, such as drill a hole so they don't have to use a bezel. Really nice details on the eagle for being 110 years old. The good thing about old gold coins is at worse, they are worth at least spot (or a little under or over if you sell it correctly as mentioned above).
eBay fees will probably leave you with less than $1209. Coin show or coin shop should get you the best price. Melt for your coin is 96.75% of the gold spot price. Right now spot is higher because the stock market is falling. Good luck with it
Thanks all... as I live in NYC Im going to take this to the jewelry district on 47th Street tomorrow and see what they offer. If anyone knows a particular place that pays well on coins in that area let me know. Love this forum - very different from the comic book forums I usually participate in... I wish I was a coin collector.
