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 Replies: 10 / Views: 1,342 |
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Pillar of the Community
United States
751 Posts |
Hello everyone--I am looking at the prices and populations of certain types--and there are two dates of Draped Bust $10 Eagles that seem to be bit more plentiful than others: 1799 and 1801. With estimated populations around 700-800 surviving coins from each date, I'm wondering why they are effectively 5 figure coins in every straight grade. Do you think these coins (these two dates I mean) are massively overpriced? Or do you think these coins are likely to maintain their value?   |
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Pillar of the Community
United States
7273 Posts |
Even assuming 700 surviving population there are over 3000 NGC registry sets for the US Type Collection and 1792-1964 type set, so you have more collectors than coins. Hence the 5 figure cost. And that's just 2 type sets. If you collect early American gold or $10 Eagles you need a sample of this coin and which one are you buying a key date or the available one?
Edited by hfjacinto
03/04/2025 10:06 pm
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Bedrock of the Community
United States
10982 Posts |
Quote:
Do you think these coins (these two dates I mean) are massively overpriced? Or do you think these coins are likely to maintain their value? The markets set the price. So they are valued at or near the price the markets are willing to pay to obtain them. You are referring to Type 2 Heraldic Eagle reverse Draped Bust Gold Eagles. They are highly likely to maintain their current value. There are fewer than 3,000 total known to exist and they are one of most sought after U.S. coins in the world. As a side note: You referred to them as 5 figure coins in any straight grade which is true. But inferring that 5 figures is an enormous amount of money is not. 5 figures, or $10k min, is easily within the reach of millions of potential collectors. |
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Pillar of the Community
 United States
751 Posts |
hfjacinto: Thanks. When I eventually get to acquiring one, I will prefer 1799 or 1801 because they are more available, and less expensive. BH1964: I am sure you are right. But that amount seems to make coins like this more exclusive to serious collectors. I guess I am just surprised by how draped bust dimes, which seem scarcer by numbers, aren't nearly as expensive overall.
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Pillar of the Community
United States
3848 Posts |
Two things:
1. They are large denomination gold, and hold value as such a type. Look at Liberty Head double eagles, especially from the Carson City mint. They are even more common and just as expensive! The reality is that the market for these large gold coins consists of collectors in which $50,000 is pennies to them.
2. Problem free draped bust gold eagles of any date are scarce. Cleaned, repaired, and other issue coins can be easily found for less than 5 figures. But a frosty, originally toned, and untouched Choice eagle is truly a find.
These should easily hold their value as high end collectibles, and are priced accurately.
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Valued Member
United States
416 Posts |
As a type set collector I 'need' one of these, but for now I got a $5 coin (1800) that came in well under 5 digits. Same look & feel, same liberty & heraldic eagle, just smaller. That will hold down the 'type' until I am comfortable crossing the 5-digit barrier.
As for price, IMHO the early $10 golds are actually very good value compared w/ common looking stuff that sells for more due to high grade or rare date or something. But that's just me.
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Pillar of the Community
United States
7273 Posts |
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But inferring that 5 figures is an enormous amount of money is not. 5 figures, or $10k min, is easily within the reach of millions of potential collectors. While true, I don't know of many collectors that have 5 figure coins. With cost the number of collectors dwindle. |
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Moderator
 United States
187579 Posts |
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I don't know of many collectors that have 5 figure coins I have barely gone up halfway through three figures.  |
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Pillar of the Community
United States
3342 Posts |
First off, that's a nice 1801 eagle in your picture.
Coins priced like these divert my attention to other coins. They stay on the back burner. I have a holed 1803/2 half eagle and that's satisfying enough for the rest of my life. I had it on my key ring for a while, but after giving it some thought decided that I didn't want to take a chance on losing it. The holes have nasty way of tearing out.
While dredging around in foreign coins I discovered guineas. They're the same size as the early half eagles, and were made from 1663-1814. A holed Queen Anne 1714 guinea replaced the 1803/2 half eagle on the key ring. They're nice fobs.
As the site motto says, "What's in your pocket?" I don't mean to be snarky. I think it's better to have one than not have one at all. It has nothing to do with condition. If it were like that 1801 it would be in a slab in a vault instead of being in my pocket.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
03/05/2025 7:54 pm
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Pillar of the Community
United States
877 Posts |
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Moderator
United States
187579 Posts |
Quote:
I think it's better to have one than not have one at all. It has nothing to do with condition.  |
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Replies: 10 / Views: 1,342 |
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Posted 03/04/2025 11:08 pm
