It's a big coin for a newbie like me, and I don't have the cash, but I thought, "Hey, it doesn't hurt to dream a little"! I was interested in getting a gold coin (ANY gold coin), but some very wise and very helpful folks here pointed out that I might not be satisfied with a 1/10 modern, a pre-1933 1/4 eagle, etc. Then I realized that I absolutely *love* the St. Gauden's design. So if I could afford a Double Eagle in a year or two, how should I start learning about them? (Note: I might "settle" and buy a smaller coin with the same design, but don't wake me up from my dream just yet) The first thing would be learning how to grade them more accurately. Then I need to monitor sales online so I can see what they are selling for. When it gets time to buy, should I concentrate on looking at the high-mintage years first? Also, there don't seem to be as many AU or less coins out there; mostly MS60 and above. Is that because most of the lower-grade coins were melted down at different points in US history?
read the red book it has some good information on double eagles. I am still studying this area of numismatics and with this particular series you can go as crazy as you want. Some of these double eagles are the most valuable coins on the market.
seems like you know what to do. just study price trends for a while. you don't see a lot of circulated $20 gold pieces because they didn't circulate. mostly they were held in banks for payments back and forth. when people did use gold coins it was mostly $2.50 & $5 coins.
Well the first thing ya do is ask a question like that. The second thing ya do is read and study the file I just emailed to you
Replies to the OP's questions . . . It's a big coin for a newbie like me, and I don't have the cash, but I thought, "Hey, it doesn't hurt to dream a little"! I was interested in getting a gold coin (ANY gold coin), but some very wise and very helpful folks here pointed out that I might not be satisfied with a 1/10 modern, a pre-1933 1/4 eagle, etc. I'm not sure why you wouldn't be satisfied with a smaller coin . . . the Indian gold of all denominations are very popular because of their designs. I also think a nice ciculated three dollar coin is a gratifying piece to own. That coin seems incredibly cheap right now. Then I realized that I absolutely *love* the St. Gauden's design. So if I could afford a Double Eagle in a year or two, how should I start learning about them? Learn to grade them by examining them at coin shows, where you can examine many of them. Learn which are common and rare by observing availability at shows and on-line (don't use local coin shops as indicators of rartity - that's too small a sampling of the marketplace to be representative). (Note: I might "settle" and buy a smaller coin with the same design, but don't wake me up from my dream just yet) The first thing would be learning how to grade them more accurately. Then I need to monitor sales online so I can see what they are selling for. When it gets time to buy, should I concentrate on looking at the high-mintage years first? While there is some prospect of a financial return on investment, there is no guarantee. Focus instead on what makes you happy . . . flawless surfaces, toned gold, better dates . . . something special about the coins you buy, as it is only the thrill of ownership that guarantees a return on your investment. Also, there don't seem to be as many AU or less coins out there; mostly MS60 and above. Is that because most of the lower-grade coins were melted down at different points in US history? Gold coins were not so selectively melted as to destroy most of the circs, leaving Uncs in the majority. Most of the gold resided in banks as reserves against circulating paper money, especially the larger coins, as they were not only a lot of money to carry around in one's pocket, but also impractically heavy for same.
I would buy a decent book on the series. Since many people do not wish to become educated who buy these coins, there are some very undervalued dates.
Be very careful. I tip toed into my first gold purchase several months ago. With my limited knowledge I knew slabbed was the only way to go. I finally pulled the trigger on a $5 Indian in AU58. It was hard to spend that much on a coin. Once it arrived I was in heaven. But as human nature would have, it was not enough. This is where the be very careful advice comes in........... I then went crazy and bought a $1 type 2, $2.5 Lib and Indian, another $5 Indian and a $5 Lib. A $10 Lib and 2 $10 Indians as well as a $20 Lib and 2 St Gauden's. Yea, went a little crazy. I actually find the eye appeal of my AU58 St Gaudens better than my MS63 example. Yes I caught the gold bug. And my wife loves them too!! She saw no appeal to large cents or Morgans but loves the gold. Research, save, save, save, then research some more. Watch some auctions and get an idea of values then one day jump in head first. I would certainly go slabbed PCGS or NGC with your limited knowledge. I tried to compare lots of gold slabs and frankly I'm not good enough to go unslabbed, although I did pick up another $5 Indian and $10 Lib raw from a very trusted dealer. Got them in XF condition not much over spot price. Its fun to actually hold the coin. That $5 Indian might end up as a $335 ball marker in golf. Now I went away from the consensus around here and decided to stick with mostly AU and low MS grades in common dates. Once you get past MS63 I just couldn't justify the premiums. I still try to keep my coins tied to the spot price but that was my way to justify it as a hobby and investment(yeah right)......
I love the st gaudens $20s you can buy a slabbed uncirculated common date coin for not much more then raw cirvulated if you want the absolute cleanest most bang for your buck in the highest grade I'd reccomend a 1908 no motto in ms 65 there was a large hoard of uncirculated nm 1908 $20 and their common in grades up to ms 67 a ms 65 will cost you little more then a ms 63 or less of most dates and personally I feel the design is so beautiful that the most unflawed coin possible is the best choice a 65 1908 nm can occasionally be bought under $2k
Medoraman, any book title recommendations? Mainebill, I was hoping to spend closer to $1500. And I like the motto version better. Having said that, which grades and years would you recommend?
1927 can be a good date as can 1924 you want to look for a well struck coin as they can be inconsistent look for good detail in libertys head and face for $1500 you'll likely be looking at ms 62-63 but even slabbed they bring just a slight premium over melt and you get a nicer coin then a damaged or worn out junker also look at au-58 coins of any date as they sometimes can be real clean
I got a little gold bug earlier this year. Bought this Newman coin and decided to add a couple $2.5 Indians. That's where I stopped. I want to save some $$$ and bought a couple books on gold coins. Before I venture too far, I want to do some research. I think finding an AU58 can be just as rewarding as a 64/65. You pay less and aside from a small rub, you have the same coin luster wise. Be patient as there are many to chose from.
I got something like "Gold coins in the Smithsonian", (sorry my library is packed up right now). Its pretty good, going over every date/mm combination from about 1850 on. Its good to know which are scarcer coins in certain grades. Not saying they will appreciate, but still interesting to know. I picked up a double eagle that was at least 20 times rarer than the 1904 for the same money. At a minimum, it adds value to the coins you own.
Encyclopedia of US Gold Coins by Garrett & Guth The file I sent you should explain all of that, as will the book. And those who would like a copy of the file I mention, PM me and send me your email address and I'll send it to you.
Yeah, that was it. Sorry I didn't have the title handy, thanks Doug. There was a seller on Ebay a few years ago selling these fairly cheaply, (seems he was liquidating a massive stock of Whitman books), but I believe I only got one of these books on Gold coins for cheap.
