Non-Mint State "saint" Double Eagles No Numismatic Value?

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Author	Replies: 3 / Views: 2,098
carmykle Pillar of the Community United States 2448 Posts	Posted 03/17/2011 2:34 pm I was reading the 2004 Whitman Official Red Book, "A Guide Book of Double Eagle Gold Coins", and was rocked by a statement the author makes concerning Type 5 1907-1908 Saints. Quote: Collecting Coins Graded VF to AU In grades below Mint State coins of this type are not wanted by numismatists, simply because Mint State Coins in the lower grades are inexpensive. Investors and hoarders of gold coins, without numismatic interest and knowledge, constitute the only market. I did some quick checking and determined that for these coins, the jump in price can be $100 - $150 from the EF to MS 60 grade. Does everyone feel that this increase is not material to collectors? Are the lower grades (XF to AU) not worth the time for those that pinch and save pennies to afford "No-Motto Saints" for their collection? This is probably an issue relevance and class of collector. I know that XF to AU coins are all I can afford right now and was happy until reading that reference. Is this secretly implied for all other coins in the series? Would this stop you from putting together a set? Should I sell my stuff to investors and Hoarders? What are your thoughts? Report this Post to the Staff

biokemist6 Bedrock of the Community United States 12437 Posts	Posted 03/17/2011 2:47 pm Quote: Does everyone feel that this increase is not material to collectors? If you have the funds to work on a set of Saint-Gaudens double eagles @$1500+/coin, wouldn't you spend a mere $200 or so dollars more to get into the MS60-63 range? That little extra expenditure is chump change at that price point. Quote: Is this secretly implied for all other coins in the series? You are reading way too much into it, there are no broader implications in that statement that apply to any coins besides double eagles. In many series, there is a huge jump in value between EF/AU and MS grades- sometimes double or triple which is quite different than 5 or 10% more. Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 03/17/2011 6:20 pm The statement in the Whitman book varies somewhat over time and market conditions but is generally true and definitely true today. Let's take the 1908 No Motto Saint as an example. Current Greysheet Bid for an XF40 1908 NM is $1,465 while Bid in MS62 is $1,520. Less than a 4% price jump from 40 all the way to 62! Yes, most collectors will pay the extra $50 on a $1500 coin in cases like this. ANA #R3154474 Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 03/17/2011 11:09 pm All of my price lists are way out of date then. $50 is a small price to pay to get to an MS 62; using your Grey sheet info. My lists were telling me $250 - $350. Thanks for the information and helping me see the logic in that statement. Edited by carmykle 03/17/2011 11:10 pm Report this Post to the Staff
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Non-Mint State "Saint" Double Eagles No Numismatic Value?