Obviously MS 65 or better is the route to go with no budget constraints. It really seems like moving from 61 to 62 to 63 and even to 64 are just steps up the ladder but then 65 seems to jump several rungs of the ladder. Will the gap between say a 64 and 65 stay relatively stable or does the gap between a 64 and 65 grow with time (or at least in the past has it grown) In your opinion what is the best grade to balance eye appeal and best bang for your buck? Lets assume a common date.
I think many might recommend a super nice AU58 that could have the same eye appeal as a 64/65, but with an AU price. Again, this answer is based on the individual coin...being that not all 65's are created equal (and same on down the line...)
There are umpteen different series out there let alone different dates. Each one gives you a different answer. Try to collect a set of 63 memorial cents. Then try to get a set of early Lincolns in 65 red. They are not going to happen.
You'd better specify that you mean a Saint Gaudens $20 gold coin. The purists will remind you that his design is on other coins as well ;-)
Would you get an AU58 with hope of submitting for a better grade or are you saying that if you get an AU58 with good eye appeal that it would appreciate in value more over time?
All coins in MS65 will either appreciate or depreciate over time. Or both. Or neither. Pay more attention to buying a coin with really nice eye-appeal when compared to others at the same grade. Those will do better than the others in the long term.
Personally, I like the high AU grades more than I like a lot of the lower MS grades. A lot of the low MS grades are technically mint state, but are of low eye appeal in some way, i.e stained, low luster, etc.
Every date and mm in a series can be different as well. I try to buy the highest grade I can afford. So for the Morgan series, that range is MS67 to XF depending on the date an mm. For the 1893-S, if I ever buy one, it would have to be graded "fine". Learn the series, understand mintage and then train your eye to pick out beautiful coins for the grade you can afford.
All the things mentioned above. I was saying not to get an AU58 with the hope of it upgrading and suddenly becoming MS, but with the idea that you might get a really attractive coin at a more reasonable price.
Best bang for your buck really depends on series and then the date and mm within that series. It also depends of what you're willing to spend. But on average, for coins that are affordable for most people in the MS grades, I would say 64 gives you the best eye appeal to dollar ratio.
West, there are TONS of variables. Obviously, an AU $20 Saint is going to cost a lot less for a common or even a rarer strike. For a common: the AU will cost close to melt value. An MS-65 is going to cost you a 20-25% premium, more or less. For a rarer date: the AU will cost a premium to melt value, but an affordable premium. The MS-65 may cost a multiple of the gold price, anywhere from 2x - 10x. You have more LEVERAGE with the higher-quality coin because you get the gold kicker PLUS the numismatic kicker, which right now is at multi-year, multi-decade lows. You're not paying as much for the higher quality coins relative to past years. MS-65 is usually the 'dividing line' of gem quality coins. For non-common Saints: you will see BIG jumps before MS-65 and then quantum jumps at MS-63 and above. Increases are NOT linear. There is a grade which is the 'take-off' point for all but the super-rare coins, which are 5-figures even in low-graded quality (if they even appear as such). You likely won't be able to afford a 1927-D even if you are willing to buy AU. If you are buying a coin for LOOKS: Check out the AU-58's. Good value there, maybe you find one that is 'better' than a low-60's coin. If you are buying for APPRECIATION: Strive for an MS-65 to separate yourself from the pack. There's still lots of MS-65 commons but less so than for MS-64's, 63's, etc. Hope this helps....I purchased 2 MS-65's 1924/27 and I am happy with the quality. If I had more $$$, I would have tried to stretch for MS-66's. MS-67's would have necessitated me winning the Lottery.
When you are deciding to build a set, look at what grade you can afford. Try to build a nice, well matched, eye appealing set at a price point that is achievable for you. Don't worry about what other people are building, don't worry about what the next grade up is worth. Worry about buying accurately graded, problem free, attractive coins - and it doesn't matter what grade you get, you'll wind up with a nice set. A well matched set of VG coins can be every bit as nice as AU or 64 or 67.
I would say that the best grade coin and bang for the buck is the coin that appeals to you. I have owned MS 65 coins that were much less attractive than MS 62 ones. It is all a matter of taste, eye appeal, and overall beauty of the coin. It also varies from type to type, and series to series. If I had to pick a coin that is so often a "sleeper," it is the AU 58, as they are often much more attractive than baggy MS coins. An AU 58 with a slight rub in the high spot is often barely detectable, and can be a beautiful looking coin. My avatar coin is a 64, and is a common date coin. However, in hand, it is much more attractive than many 65.66, and 67 coins that I have owned. It is all one's personal taste.
Well, it all depends how you define "bang." Personally, I like coins that are nice to look at, and which I have a hope of potentially reselling, for at least as much as I paid, at a later date if the need or desire should arise. The best way to do that is, iMO, to buy quality coins that I like (whatever the grade), and try to get the best price for them. Generally speaking, I think MS63 is a fine collector grade. It's well out of the "BU" range, where "BU" can mean "Butt Ugly," but nowhere near the lofty realms of MS68.8795 or whatever.
I presume we're talking Saints, right ? That gap changes depending on bullion and numismatic interest: http://assetstrategies.com/resources/alert-arhives/120-the-best-time-to-buy-these-coins The charts below seem to be pretty much on-the-money as far as fair value market pricing. MS-64 seems to do better when bullion rises; more leverage as its dragged up from depressed pricing. There are so many MS-65's and MS-64's and they are very affordable so premium to bullion is determined by where the coin community wants to price them (apparently gem quality = MS-65). http://www.golddealer.com/saint-gaudens-20-gold-piece/ For some reason, I can't upload the pics.
