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Gold $10 Liberty Eagles - Sleeper coin type or just 1/2 oz of gold?

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I'm baffeled by the lack of interest in $10 Liberty Gold Coronet Head (1838 - 1907). They're over 1/2 oz gold and the early ones come from mintages under 100,000 or so per year. You can find really nice graded AU pieces for less than say a 1909 S VDB penny...raw...off eBay...

 

Are they a sleeper gold coin type or what's your opinion on this type?

 

 

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Relatively few folks collect these by date and mintmark. They are typically purchased as type coins or by people who want to own a little gold at a lower premium than smaller denominations hold. I would not call them sleepers.

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What TomB said.

 

Because the Coronet series is so long, very few people collect any of the denominations (quarter-eagle, half-eagle or eagle) by date and mintmark. Part of the problem is, if you go for the series, that you end up with a ton of relatively common coins and a few very expensive coins (sort of like with Lincoln cents).

 

Some folks do collect the southern and CC coins, but the S- and P-mint coins aren't popular, even though some of them are quite rare.

 

You can usually find them in Heritage (or other) auctions, and an auction is usually the only way to liquidate the "better date" coins, as dealers usually won't pay up for them.

 

Several years ago, I was looking at some eagles at a dealer's table at a show and he pulled out a nice 1858 for me. He said that he knew one collector who was putting together a set of eagles, so he bought this one at an auction to offer to his client.

 

Unfortunately, when he offered the coin, he found that the collector had just suffered a setback at his employer and couldn't buy the coin. The dealer said to me: "Now I'll have to sit on this coin a long time before another customer comes along."

 

On the other hand, if you want to pick up some gold coins (in a less than one ounce size), then you easily can buy some some better-date coins for little or no premium.

 

A few years ago, I made a list of the with-motto eagles with original mintage of less than a million - they were relatively easy to find in raw XF/AU for no premium to a more common date.

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Victor I've owned eagles off and on since the late '60'S. They are treated like a type coin and no one seems to have any appreciation for their scarcity. If you want to own some eagles great, but don't expect to gain much on them unless gold goes way up. I have some AU58-MS60 eagles which are better dates that I picked up for $100 over melt. They are in my 1879 Mint Set. I even have an 1892-CC, AU55 Eagle where there are only (40) MS coins graded by NGC. If I ever want to sell it, it will be in an auction.

 

Some of these $10 eagles, even late dates like the 1907-D may be sleepers because they are short set coins and are small populations. Just pore over the sheets of graded coin numbers and prices and pick your poison. It could pay off.

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this is a really informative post.

i love these coins, and have a couple, and will probably be collecting more.

with all the above said, you can find some real beauties for under $2,000.00

to me the challenge with these coins would be to simply obtain as many gorgeous ones you can find. It really isn't easy, as most have been wiped, swiped, dip dipped and otherwise made bright and market acceptable, i.e., a truly ugly coin.

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all good stuff...

 

It's just amazing to me (being such a newbee at this) that the rarity factor (under 100,000 coins even minted for some eagles for under $2000) and 1/2oz of gold goes for less than other coins (i.e. 1909 SVDBs where there are over 400,000 and copper or common date coins).

 

I don't get the logic - gold is more valuable then copper, Eagles are (in most cases older) and there are fewer of them...

 

I guess I got a lot to learn about coin collecting...or maybe I stick with Eagles b/c to appease my Vulcan logical side...

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As others have said, the series goes from 1839 through 1907. I love Coronet eagles and have owned quite a few in (45) years of collecting. It is impossible, however, to complete a set in one lifetime, plus many of the coins are nearly unobtainable, at any price, as nice specimens. If I had the money, I would buy all the nice eagles that I could find but I'm nuts, what can I say. Maybe someday the naysayers will be proved wrong. However, I wish that I still had the eagles that I've sold.

 

Most collectors pretty much ignore them except as type coins or for year mint sets. The same is true of Coronet half eagles and quarter eagles, although half eagles have a slightly bigger collector base. However, double eagles have picked up a following in recent years. Maybe there is hope for the Coronet designs yet.

 

I sold a 1905, MS65, beautiful quarter eagle a couple years ago and only got about half what I thought it would go for. The incuse design coins that I sold at the same time yielded more than I expected, go figure. Scarcity only goes so far in a collector/investor marketplace.

 

You'll pay more for a MS64, 1909-SVDB than an 1888-O eagle in MS62 with a mintage of 21,335, a NGC pop. of 108 in MS62 with 8 graded higher.

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An important thing you need to understand regarding coin values vs. apparent rarity is that this hobby-industry generally follows the laws of supply and demand.

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I do not consider this series a sleeper. From what I know it is a bullion play and is more an investor coin.

 

It's a bullion related coin only in the lower grades. In MS63 and above, there is a significant numismatic premium. Given a choice, I would rather own a MS62 Lib eagle from the 1800's than a 1/2 oz AGE.

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Most better date, MS63 eagles are premium priced out of my current collecting budget range. I just bought a few lower grade, better date coins just to have some for sets that I have.

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I do not consider this series a sleeper. From what I know it is a bullion play and is more an investor coin.

 

It's a bullion related coin only in the lower grades. In MS63 and above, there is a significant numismatic premium. Given a choice, I would rather own a MS62 Lib eagle from the 1800's than a 1/2 oz AGE.

 

Let me clarify what I meant to say. I have not followed prices in this cycle, but in the last one (in the late 1980's) my recollection is that the price of these coins (and several other gold coins) was highly correlated to the price of bullion and though the better coins have a premium or a large premium, investors and speculators still use them as a bullion substitute.

 

The reason they are able to do this is because, as a type coin at least, there is a large supply which is why professional marketing firms (and some dealers) market them to this segment. That is why I (and I believe others) call these investor coins generics.

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A (68) year series with "P", "S", "CC", "O" and of course (1) "D" mint coin makes for a lot of "type" coin issues, even with smallish to scarce, mintages for many of these individual issues. I have never considered the "forest" of these coins just the individual trees so that makes it harder for me to regard it as just a type coin. Some say tomato, some say tomato, I guess. For me that covers a lot of history, wars, Reconstruction, Depression, discovery, shortages and hoarding periods of coin history

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I have never considered the "forest" of these coins just the individual trees so that makes it harder for me to regard it as just a type coin.

 

Very well put, Charlie!

 

As a type collector, I'm more of a collector of forests. Nottingham didn't come cheap, I'll tell ya! :grin:

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A (68) year series with "P", "S", "CC", "O" and of course (1) "D" mint coin makes for a lot of "type" coin issues, even with smallish to scarce, mintages for many of these individual issues. I have never considered the "forest" of these coins just the individual trees so that makes it harder for me to regard it as just a type coin. Some say tomato, some say tomato, I guess. For me that covers a lot of history, wars, Reconstruction, Depression, discovery, shortages and hoarding periods of coin history

 

Actually there were two D mint coins---1906 & 1907.

 

 

 

 

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Perry, I need new glasses! Plus, of all the things that I have ever lost, I miss my brain the most! Another senior moment! These have got to stop!

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Relatively few folks collect these by date and mintmark. They are typically purchased as type coins or by people who want to own a little gold at a lower premium than smaller denominations hold. I would not call them sleepers.

 

(thumbs u

 

now if you are talking about a really choice to gem proof ten liberty with a strong cameo and with totally original orange gold surfaces with heavy orange peel

well these coins are totally sleeper undervalued coins

 

and of all the liberty gold proofs one, 2.5, 5, 10, 20 of the 1860's-1907 they are the scarcest type

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