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Looking To Buy My First Double Eagle

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Pillar of the Community
United States
2382 Posts
 Posted 08/03/2022  12:01 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I would prefer to spend as least a premium above melt as possible.
Pillar of the Community
United States
2593 Posts
 Posted 08/03/2022  10:37 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Looking at $20 Liberties on eBay, I'm disappointed at the current pricing for the ones I like. Circulated S mints pre 1870 used to sell for 10% over melt, and now sell at 50% over melt. Circulated cc's used to sell for $2500, now details coins start at $4000. This is not due to an increase in the price of gold, and is insensitive to recent drops in gold prices. These are not rare coins by any means. They used to be considered bullion.

Maybe there will be a day of reckoning. Someday. But right now I'm not seeing any buying opportunities.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
08/03/2022 10:43 pm
Pillar of the Community
United States
2382 Posts
 Posted 08/04/2022  08:36 am  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
But right now I'm not seeing any buying opportunities.


Exactly. I won't be buying those overpriced double eagles anytime soon.
What I did buy however were some Swiss 20 Francs gold coins for 3% over spot.
Pillar of the Community
United States
2593 Posts
 Posted 08/04/2022  09:00 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
I bought a cleaned xf 1912 Canada $10 for $60 over spot, or about 7%. Low grade common US double eagles are trading at 15% over spot. No bargains of any kind.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Pillar of the Community
United States
4354 Posts
 Posted 08/05/2022  10:36 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Edited by jimbucks
08/05/2022 10:38 pm
Pillar of the Community
United States
3691 Posts
 Posted 08/06/2022  09:26 am  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
I like this site better for $20 Saints and Liberty's as you can pick your coin from photo vs random date.
https://www.mintstategold.com/
Bedrock of the Community
Australia
20069 Posts
 Posted 08/06/2022  10:26 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Bullion and bullion coins are normally traded in Australia without tax, because they are both classified as bullion, plus a trader's premium for which sort of bullion it happens to be. Double Eagles have a high percentage trader's premium. Australians have to pay a goods and Services Tax of 10% on the traders premium, but not on the bullion itself.

It must be remembered that common date Double Eagles are still bullion coins no matter how spectacular they may appear to be in MS+ condition.
Not sure how an Australian purchased Double Eagle could be legally imported back the the 'States, without paying US tax.

Nevertheless, I do have to confess that I have a common date St Gaudens, in about MS-61 or 2. I bought it about about 25 years ago, for AUD $600, simply because like the medallic artwork, it is probably the best modern gold coin design.

Fairly useless as a practical circulation coin, because it has way too much face value, and is too easily damaged. But OK to include in a coin collection.

.
Pillar of the Community
United States
2593 Posts
 Posted 08/06/2022  11:47 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
It really astonishes me that double eagles have gone from being bullion coins to collector coins over the two years since this thread started. If there is any value in beauty, common MS65 Saints still trade at $2500 right now, about 50% over melt. But similar Liberty Heads, and all uncommon and early dates, are through the roof even at XF.

Dealers I used to buy from are holding a lot of those "collectible" coins in stock right now. If you want one open up your checkbook and write large numbers..after making a small offer..
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
08/06/2022 11:52 am
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