St Gaudens

Just asking your guys opinions. Local dealer will sell me a 1927 St Gaudens for $1600. Uncertified, but sure looks clean and BU to me. I usually can grade fairly well, but do not have a ton of experience with gold. I have dealt with him before, seems like a good guy, well respected dealer. He agrees its a nice coin but says its not worth sending them in to grade.

Is $1600 a decent price for one of these?

 

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Not sure but a quick look at ebay and it looks like that price is OK, but if you spend a few more bucks you could get a nice graded one... An MS65 NGC just sold for less then $1900 http://www.ebay.com/itm/1927-20-MS6...30?pt=Coins_US_Individual&hash=item3a81f61736

 

Fair price, post it if you get it.

 

Only a few have sold lower on Ebay and they had problems.

 

Well I am posting this in the bullion section for a reason. I wanted gold, but also like the secondary play of numismatic. Plus, I simply think they are pretty.

Am I fooling myself into believing this is a bullion purchase when its really just a coin I want? Its pretty easy to "justify" a collecting itch you wish to scratch when I large percentage of the price is PM. Am I dumb wishing to buy a classic coin for $150 more than I could buy a new AGE for?

 

This is a good investment and in many years will be worth more than the AGE.

 

Of course you want a $20 Saint, who wouldn't? We all want to justify our "collecting itch's", you might as well have some fun with the hobby. One thing I'd say is: pay a little more, & get one graded, in a PCGS or NGC holder. Don't cheap out by buying a raw one. It will be SUCH a hugh drag if you ever send it in for grading, & get in back in a "Genuine", or "Details" holder, or worse, "body-bagged".

Even if you buy one already in a pcgs "Genuine" holder, (at a good price) you can be sure it's real. Or, if you can buy an MS64 say, for $200 more than a raw one say, that'd be well worth it IMO. BTW, I own 2 $20 Saints, they are gorgeous, & I'm firmly in favor of buying "classic" gold coins......

 

My first gold coin was a St. G. 1924 NGC 63 $20.00 gold coin. I only buy graded gold coins or direct from the mint.
One of my favorite gold coins is the 2009 $20.00 UHR from the mint. It is housed in a very large nicely finished
wood case. I should have got it graded as an early release. That case takes up a lot of space.

Mike

 

At high/low EF/AU that's a pretty fair price. Go get it.

 

The coin for $150 premium is very reasonable. The St. Gaudens should always trade at a premium to bullion unless things get very ugly. The semi-numismatic play gives you an edge and at only 11% over spot, you are getting that edge on the cheap. Of course, and you know I have to say this, What's the Rush? BTW, I don't think you need it slabbed.

 

The secondary play of numi is usually a very strong move. If you watch the market for these it will fluctuate, go back to 09 and you'd see them selling for $1400 pretty regularly ungraded, and gold was just getting to $1000 as I recall. There are many other things you can do this with, but the St Gaudens is one of the better moves from my perspective.

Check out these completed listings, the price includes hammer fees, but even the details coins sold for that money....so how hard would it be to get out if it later??? Probably not very hard at all.

http://www.greatcollections.com/Series/82/Saint-Gaudens-Double-Eagles?mode=product&completed=1

 

When your dealer says its not worth grading, it's because common date, lower grade (generally MS62 or lower) St. Gaudens usually track spot prices pretty closely. It's a fair price as bullion, and I'd buy it myself, but just buy it knowing it is what it is.

 

Nobody has seen the coin but you and it's easy to spend someone else's money. Ask your dealer what he'd buy that coin for if you brought it to him. My guess is spot or a little less. In the current market, low grade St. Gaudens trade as bullion, but so do AGE's, and the St. Gaudens probably has more growth potential on the numismatic side.

 

That seems like a very fair price for what I'm assuming is a MS-62/3 coin.

On a side note though, St. Gaudens pieces have not trended gold prices very well. In the eighties, the common ones were trading at nearly double spot value. As the price of gold has gone up, St. Gaudens coins have stayed relatively steady.

 

Yeah, I remember St Gaudens were still $600 or so even when gold was $300. The $10 indian still was around $500 not tracking goold at all.

 

So here is the coin. I think its pretty clean, and I cannot see any luster breaks, but like I said I don't have a ton of experience with US gold.

It scratched an itch, and I am happy I picked it up.

 

The premium on Saints expands when the price of gold is very low.

Also, the numismatic premiums took off in 1988-1990.

 

Wow, congrats that is a VERY LUSTROUS Double Eagle.

How did you take those great pics ?

 

Lol, I take horrible pics. I just used a cellphone against a black mousepad. I appreciate the compliment, but most here could do better than I.

 

What's the grade: AU58, MS60?