Buying First Saint-Gaudens double eagle- Any Tips, suggestions,ideas??

Hi,

I have always admired this coin, looking for a long term investment purchase. Budget is between 2000-3000 USD. I am novice coin collector, I know the basics: age- condition- amount minted............. looking for advice for :good years, grades, and condition issues to look for. Also interested in a 10 dollar gold Indian head coin, if you have any thoughts on that.I plan on buying from a long standing local coin store. Thanks for the help

 

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Buy a common date graded by NGC or PCGS, grading MS-63 or 64. Look for smooth surfaces and good luster. This one is graded MS-64.



This one is graded MS-63.

 

For the $10 Indian, there are several dates with lower mintages that, all things considered, do not sell for an outlandish premium over melt value. Think 1908-S, 1911-S, 1913-S. At the end of the day, though, most gold eagles and double eagles you'd purchase are really dependent on spot prices of bullion for the bulk of their value.

 

Now and then you can pick up some deals on the 1907 No Motto type. The coin tends to be lightly struck and sometimes the luster is satin and subdued, not bright. This causes the graders to under grade these coins at times.

Here are two examples.

This one only has an NGC grade of MS-61. It's better than that, but the strike is not as sharp as some, and the luster is original, but subdued.



Here's one that is PCGS graded MS-64 CAC. The luster is brighter and it might be a little sharper, but the price would be much higher.

 

Buy the best coin you can at the lowest possible price. Should be mark free and graded by PCGS or NGC. A common date would be fine.

 

The two most common $10 Indian dates are the 1926 and the 1932. They are very common, but the grading on them can be lax. You really have to watch them. These are the dates that are sold to non-collectors who want to buy gold in "investment programs." This one is graded MS-63.

I like this date because it's the only U.S. gold coin that is dated in 1930s that is affordable. All the rest of them are beyond the financial reach of most collectors. The government had those coins in their vaults and melted them all.

 

This is great info, thank you very much.

 

The 08 no motto tge 22 25 and 27 all very available. Find a ngc or pcgs 63-4 with nice luster a good strike and no major unsightly marks

 

Go for a low mintage, certified (PCGS or NGC), uncirculated coin. Should be able to get one for around $3,000. Examples are 1909, 1909D, 1912, 1913S, 1914 and 1915. If you can afford it, 1909D and 1913S would be the best … only 52,500 and 34,000 minted. 1914 has less than 100k minted.

Cal

 

Which grade do you mean?
MS60/61?
In higher Grades these coins, especially the 1909 D and the 1913S, aren‘t available around 3K.
But I think a Good advice would be to buy coins at the 63 and upward level.
So stay with more Common Dates in better shape. So the 14S, 15S and the 23D.

 

I would stay away from MS60 coins, which often have a huge number of dings. Some of the dates I mentioned are available for around $3K (see PCGS auction prices realized) in 62 or 63. Some you might have to go for a 61 to stay in budget. 61s may have a huge number of dings too … so watch-out. I would much rather have a 62-63 coin in a rarer date than a 64 or 65 in a common date. However, folks vary in why they want to collect. If the goal is to inspire non-numismatically knowledgeable folks or to have the most impressive work of art for the money, then go for a high grade in a common date.

Study PCGS auction prices realized. It’s the most reliable price guide around.

Cal

 

As an avid constant weekly collector of pre-1933 U.S. certified Gold coins, I suggest that until you have an established education in collecting that you use a search as this:
https://www.ebay.com/sch/i.html?_fr...l1312&_nkw=cac+$20+gold+double+eagle&_sacat=0

There is a significant amount of what I would consider "junk" being sold, based on false information.

You may also being surprised at what I believe are very reasonable pricing, relative to other U.S. coins, and unavailability of dates/mints suggested here.

JMHO

 

When you get time, send me a PM, so that I can purchase your coins listed, in the price range quoted by you, and the O.P.. LOL

 

Me too, please

 

Thanks all for the info,

 

I trust the owners of this firm which may best represent a "long standing local coin store" wont mind free advertising as a primary candidate that you've described: https://www.mintstategold.com/gold-coins/us-mint/saint-gaudens-coins.html?product_list_mode=grid

Do you see any of the coins suggested in your price range?

I could send you many more superior qualified well-established prominent Numismatic establishments, but believe your results will be similar.

I have all of those coins that would qualify to meet your desired purchasing criteria, but they were purchased long ago.

My best choice for the week was a 1924 PCGS MS64+ CAC, with the 2nd coin being a 1910-D PCGS MS62 CAC Double Eagle.

Both coins were free of gross "Bag Marks" in the fields/devices, with uniform luster, minimal rub.

I posted a PCGS MS66 Double Eagle that's believed couldn't nearly match my weekly purchases.

If you can match either of my purchases, it's believed you've surpassed many Buyers, in acquiring a quality investment for equity retention.

JMHO

 

For skeptics, the pic below shows last two years auction prices for a low mintage saint in 61-63. And yeah, they can be had for $3,000 or less, but probably not from a dealer. Have to do homework of finding the coins up for auction, do the bidding, etc. Probably won’t find these prices from a dealer … but you might. I often see dealers in coin auction viewing rooms. And see coins sold at auction appear on dealers’ lists a few weeks later, often with considerable mark-up. I do buy from dealers occasionally, but 90% of the value of my collection was obtained via auction.

If you’re willing to pay dealer markup, you can buy the ’14 in 62 for $3,200 or ’15 in 62 for $3,000 from Apmex right now (first and only dealer I checked).

Cal

 

Cal, Thank you for the "truth in acquisition" update, as I acquired those coins in the past by similar means to yours.

Getting a CACed specimen that met my stated criteria was a whole different story.

Here is the 1914 MS62 Apmex offering, not meeting OPs' stated purchasing criteria: https://www.apmex.com/product/10860/1914-20-saint-gaudens-gold-double-eagle-ms-62-pcgs

It has too many "bag marks" for my purchasing criteria with supposed fees.

I now have several dealers who regularly visit shows, looking for the semi-keys you've listed, purchasing/trading to my criteria, at CDN pricing.

I guaranty an additional Gold coin purchase from their existing inventory.

I'll also offer pre-1933 raw Gold coins to them, at CDN pricing.

I don't receive a call very often, but those coins, and several others, in technical grading condition, are scarce, but can be found for their sales.

JMHO

 

Lots of good advice. The 08 no motto that @Mainebill suggested is a good looking coin that is well struck, loaded with history and generally available in better grades at very reasonable prices…… My only caution here is that since you aren’t a seasoned collector, be aware that there are a lot of very convincing Chinese fakes. Only purchase graded pieces and confirm the confirmation number on the graders website before you buy. It is free and easy. The Chinese are faking slabs now too. Sad but true.

 

DS, did you get your Saint yet or narrow it down ?

I don't know how many you intend to buy but rather than buy a lower-graded rarer coin....I would go with a HIGHER QUALITY more common Saint. While most would suggest the 1924 or 1927 right off the bat, let me say something for a nice 1923-D MS-65.

This coin has excellent luster....outstanding eye appeal...and is not richly priced. I don't think you'd want to stretch for an MS-66 like I did at FUN 2020, but even a 65 should be a great-looking coin.