Would it be a bad time to buy a St Gaudens $20?

Discussion in 'US Coins Forum' started by Vess1, Aug 2, 2021.

  1. Vess1

    Vess1 CT SP VIP

    What do you guys think? I recently saw someone's $20 in person and it made me realize how nice they are and why they're so popular. It made me wish I would have bought one in 2006 before they took off. I know most of them are pretty much tied to the spot price so I guess this question is like another "will gold go up or down" thread. They're pretty steep right now but what do you guys think? Will they continue to climb into the future or is everything just really hot right now? Maybe it's a terrible time to get one.
    GoldFinger1969 and BuffaloHunter like this.
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  3. kaparthy

    kaparthy Well-Known Member

    Buy a certified coin from a reliable dealer and you can't go wrong. The $20 Saint is a staple of collecting and is always welcome by any dealer. Best of all, as long as you own it, you get to look at the actual coin and not a picture of a coin.
  4. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    I would wait and see things go come Winter anyways . Just my opinion .
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  5. BuffaloHunter

    BuffaloHunter Short of a full herd Supporter

    Only you can make that decision. Do you have the extra money to buy one now? Go for it! Not too long ago I pulled the trigger on both the Mercury Dime and SLQ gold commemoratives and I didn’t give a rip what the spot price of gold was. I wanted the coins and had the extra money to buy them!

    If your intention is to hold the piece as a valued part of your collection, in my opinion the bullion question is moot.
    Garlicus, Vess1 and kaparthy like this.
  6. yakpoo

    yakpoo Member

    If you want it, if you can afford it, there's no better time than the present.
  7. TheFinn

    TheFinn Well-Known Member

    Never a bad time to buy gold. Don't price PMs in fiat - price them in gallons of gas or automobiles. Cheaper now than in the 1930s.
    yakpoo likes this.
  8. Vess1

    Vess1 CT SP VIP

    Yup, don’t blame you. I picked them up from the mint and had them graded. Came back SP70s. Got the half later on already graded. I consider them part of my US type. All three are amazing. Love the color and the finish.
    BuffaloHunter likes this.
  9. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Are you buying a generic common in medium grade that will track bullion....or a numismatic coin selling at a premium ?
  10. Vess1

    Vess1 CT SP VIP

    I’m interested in a 1928. It’s the highest minted gold coin the mint has ever produced at 8.8 mil and they were supposedly well made. Many remain in high grade so I’d want a 64 or 65 at least if I’m going to get one. I also find it interesting that the years surrounding it are 5 to 6 figure coins but that year is affordable thanks to the high mintage. Shouldn’t be hard to find one.
    yakpoo likes this.
  11. imrich

    imrich Supporter! Supporter

    I'd suggest your objectivity may be distorted by the relative value/cost of a Gold to a generic Silver coin, rather than % premium above intrinsic value (i.e. melt), mintage quantity, resale ease/gain/loss, store-house of equity relative to Fiat currency.

    I suggest if you go to probably the best comparative site for acquiring a most common raw Double Eagle (i.e. 1924) versus Morgan (i.e. 1921), believed eBay you'd be surprised, upon evaluating objectively , what a relative bargain is the Double Eagle.

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  12. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Some good commentaries on the 1928 in the HA archives and also in Roger Burdette's book.
    Remember, it's survivorship not mintage that matters.

    BTW, an MS-65 sold for about $2,500 including bp. a few weeks ago. MS-64's selling for about $2,100-$2,200.
  13. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Eh....I dunno about that. :wideyed:
  14. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Here are a couple of charts that show the price for another generic common year. You can see that while it's not a 1.00 correlation, when the premium is NARROW it's tended to be a bad time to buy and when it's HIGH it's been a better time.

    That said, I'd be a buyer here regardless of the charts:

    MS65 Saint Pricing 1997-2020.jpg MS62 Saint Pricing 1997-2020.jpg
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  15. Southernman189

    Southernman189 Well-Known Member

    just make SURE they are REAL! I had three over the years and because there are so many "COPYS" out there I got cold feet and sold them for a mild profit.
  16. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Buying a certified coin -- PCGS or NGC -- should solve that problem.
    johnmilton and Vess1 like this.
  17. TheFinn

    TheFinn Well-Known Member

    When do you pick and choose to buy home-owners' insurance or car insurance? Is there ever a bad time to purchase insurance for those items?
  18. scottishmoney

    scottishmoney Buh bye

    I bought all mine 15-20 years ago when the melt value and the premium over spot was very low. Even TPG coins could be picked up at about 5% over spot for MS-62 - 63 coins.
    GoldFinger1969 likes this.
  19. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    Gold hasn't been "insurance" for non-existent inflation or financial turbulence in 40 years.

    SWFs, the rich, and institutions have deeper and more liquid alternatives.
  20. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    For those coins with some numismatic value, you rarely can get them for just above melt and a low premium .
    It's usually one or the other as the charts above show.

    For me, I just buy a coin I like at what I consider is a fair price. If I were SPECULATING on the price of gold, I'd buy pure bullion or the Saint equivalent. Then you have to market-time and I'm just not into that.

    I buy-and-hold....and since I'm holding, I may as well enjoy the coin while looking at it...hence why I am partial to the numismatic Saints first....then bullion Saints....then plain bullion.:D
    jamor1960 likes this.
  21. Santinidollar

    Santinidollar Supporter! Supporter

    Buy it because you want it and can afford it — not because of what you think the price of gold will do. It’s a collector’s coin and a piece of US history, not a bullion coin. If you want a bullion coin, buy an American Gold Eagle.
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