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Want to buy an old Gold Coin

Started by Gold Finger-migration,

31 posts in this topic

Gold Finger-migration

Gold Finger-migration

Posted
Posted

The gold coin bug has bitten me. I am interested in buying an old american coin just to have and enjoy. Of particular interest is the Liberty Double Eagle $20 coin.

I have no Idea what year 1849-1907 I should Buy. I do want one in as close to

MS-65 or better.... (I think?).

Can anyone make a recommendation as to what year, mint and price that would be fair.

 

Thanks so much for your Help

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WinstonWare

WinstonWare

Posted
Posted

I have a PCGS 1854 Liberty Double Eagle in VF35. It’s my solitary gold coin and I really like it. I think these look good down to at least VF35, but that’s just me. Given the financial option of age/history to grade I prefer age/history.

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TomB

TomB

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The best year for a high grade MS piece is 1904 since they were apparently struck well that year, cared for well while within the Treasury Department and have a high survival rate.

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DaveG

DaveG

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As Tom said, your best bet for a high-grade Liberty Head double eagle would be the 1904.

 

Although it's the most common Liberty double eagle, it gets pretty expensive in higher grades.

 

As a rough guide, the wholesale price for this coin recently was: about $675 in MS-62, about $800 in MS-63, about $1,250 in MS-64 and about $3,550 in MS-65.

 

Because so many examples of this coin have been graded by PCGS and NGC, you should take your time buying one - look at a lot of coins and pick the nicest one you can find (even if you have to pay a bit more for it).

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Doogy

Doogy

Posted
Posted

I collect world gold coins, and have a couple of US $20 gold pieces. I think nearly every collection should have at least one, so much history (and gold!) in these.

 

I would HIGHLY recommend you pick up the Q. David Bowers book on US Double Eagles. It is a paperback book, and only runs around $14.00

This book goes year by year, and explains everything you'd ever want to know. It gives ton of background on the Double Eagles themselves, as well as tips for buyers on lustre, strike, scarcity and other factors.

the others are right, the 1904 is by FAR the most common of the Liberty heads. He reports that there are over three million of the six million minted for this year still in the hands of collectors/investors.

 

I chose the 1900 $20 Lib; they are still pretty plentiful for this year, but nowhere near as common as the 1904. I chose this year for two reasons; it was the year the law went into effect putting the US on the gold standard, and I found this coin can be purchased for pretty much what a 1904 can be.

 

As far as the Saints go, the 1928 is the most common, followed by the 1924 and the 1908 No-Motto right behind it. These are basically "generic gold" coins, beautiful but very plentiful. Funny thing; the 1928s are as common as dirt, but after that, starting with 1929 the rarity goes through the roof (as well as the price!!). That is because most of the '29 and on coins went into the smelter in the early 30s after Roosevelt started the big gold recall. Most of these years start in the 5 figure range all the way up to $7.6 million dollars for the lone '33 sold at auction and in private ownership.

 

good luck in your decision. If you have a year that has some ring to it, or holds sentimental value, i'll look it up in this book and give you the low-down.

 

Doug

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jtryka

jtryka

Posted
Posted

Buying a Liberty double eagle is certainly a noble endeavor, but the grades get much tougher for this series than Saints. As noted in some of the prices quoted earlier, Libs are not very common above MS-63, so often in MS-65 the prices are quite high. By comparison, Saints are much more common in grades even higher than MS-65. You may also want to look around and see some of the shipwreck coins from the Central America or Brother Jonathan, as these are the only real affordable type 1 double eagles in high grades (MS-64 or MS-65) and even then an MS-65 will likely run you close to or more than 5-figures.

 

Doug, sorry if this is a bit off topic but: Can you tell me what it says about the St.Gaudens coins? I Just recently bought one.

 

Check this out too: WYNTK on Saints

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AC-migration

AC-migration

Posted
Posted

If you decide on a shipwreck coin and want to get an MS65, here are the most common dates to look for but the prices are pretty steep (you can generally expect to pay a 15% premium for the shipwreck pedigree):

 

1857-S from the SS Central America graded by PCGS with a Gold Label - This is by far your cheapest bet with prices averaging between $10,000 - $15,000.

 

1865-S from the SS Brother Jonathan - this is your second best bet and this runs anywhere between $15,000 and $20,000 in MS65

 

1865 Philadelphia from the SS Republic - this is your best bet from the SS Republic. This one trends around $50,000 with a population of 21 with 1 finer in MS66* (star designation by NGC).

 

Heritage currently has some available as "buy it now" from shipwrecks in MS65 (and some lower grades too). Here are the links:

 

1857-S MS65 SS Central America

 

1865 MS65 SS Republic

 

1865 MS64 SS Republic

 

As you can see from the link below to my signature set, I'm partial to shipwreck coins myself. I have one of each of the above dates in MS65 from those shipwrecks. They are some of the most beautiful Liberty Head double eagles I have ever seen.

 

And no I am not associated with Heritage or any other dealer. Also, the coins being sold by Heritage are not consigned by me either (I still have mine), I am just trying to help.

 

Outside of these dates, the coins are pretty much unavailable in MS65 and even if you find one, the prices skyrocket.

 

If price is an issue but you just want the best shipwreck coin at the cheapest price, then stick with the 1857-S with the PCGS Gold Label, there were literally thousands of these in Mint State from MS60 all the way up to MS67. Its sort of the 1904 equivalent of Type 1's with plenty of them around. But, make sure it has the gold label on the slab, there is a premium on these coins (seriously, see my NGC journal entry from 9/4/06 {link} ).

 

Good luck!

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michael

michael

Posted
Posted

i would get fo r way less money and more way cool and rare and you do not have to worry about more hoards being discovered

 

an 1883 three dollar gold piece in ngc/pcgs au58 a 4500 coin and curreently in their new one page coin world article doug winter and some other coin dealer have a page of threes for sale most all great sexy value opportunity coins

 

a second coin for you would be a pcgs ngc au58 1800 1802/1 1804 half eagle gold piece for around 13k way cool and really old classic historical usa gold

 

you could get a way cool piece of proof gold in really choice proof 64 cameo for under 20k quarter eagle AND one dollar gold

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EZ_E

EZ_E

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Posted

Gold finger, don't rule out circulated gold! For me, they hold tremendous eye-appeal. Not only are they more affordable but mint state gold even up to MS65 appear somewhat beat up to me due to the softness of the gold.

 

The Classic head $5 and $2.5 gold coins are the most reasonably priced early gold there is.

 

The following is an NGC AU50 example that cost me c. $850. They have seen a price adjustment since I bought the piece, however. It would probably cost around $1000 today.

 

1410423-1836stacked.jpg

1410423-1836stacked.jpg.a9f24f1a890c668aaa2779732b80ed37.jpg

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EZ_E

EZ_E

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Posted

Especially if you can find an original piece like the one above. Most have been cleaned or dipped at some point or the other.

 

Remember to only buy certified gold to eliminate counterfeit and abused pieces.

 

p.s. Thanks, Zach. thumbsup2.gif

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AC-migration

AC-migration

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I have to agree that circulated gold is attractive. Although I have a lot of mint state gold, one of my favorites is the following circulated piece. This definitely saw some action and I have to wonder what 49er's pocket this was in and what poker games it saw.

 

1852_WD_MOFFAT_PCGS_XF40_SSCA7186_O.jpg

1852_WD_MOFFAT_PCGS_XF40_SSCA7186_R.jpg

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Doogy

Doogy

Posted
Posted
I have to agree that circulated gold is attractive. Although I have a lot of mint state gold, one of my favorites is the following circulated piece. This definitely saw some action and I have to wonder what 49er's pocket this was in and what poker games it saw.

 

1852_WD_MOFFAT_PCGS_XF40_SSCA7186_O.jpg

1852_WD_MOFFAT_PCGS_XF40_SSCA7186_R.jpg

 

 

 

Yikes, that is soooo cool! I would bet that coin certainly has a history behind it, and probably many a miner traded that in poker games. cool reverse, i hadn't seen that one before. thanks for sharing!

 

Doug

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Doogy

Doogy

Posted
Posted
Gold finger, don't rule out circulated gold! For me, they hold tremendous eye-appeal. Not only are they more affordable but mint state gold even up to MS65 appear somewhat beat up to me due to the softness of the gold.

 

The Classic head $5 and $2.5 gold coins are the most reasonably priced early gold there is.

 

The following is an NGC AU50 example that cost me c. $850. They have seen a price adjustment since I bought the piece, however. It would probably cost around $1000 today.

 

1410423-1836stacked.jpg

 

 

that thing is sweet! you gotta' love that design, and older circulated gold has more of a "soul" to it in my opinion, if that makes any sense. thanks for sharing!

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EZ_E

EZ_E

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I agree, doogy. The date of 1836 also has alot of soul to it. It is the year that Samuel Colt received a patent for his revolver. Texas declared its independence from Mexico and the Alamo went down in history. Many great Americans died that year at the Alamo and James Madison also died that year. Incidentally, Dade County, Florida was also founded in 1836.

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Bruceswar

Bruceswar

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Many people don't know alot about the Alamo as famous as the battle was. They think the Alamo is what is left today. That was only the church from the fort, which was much bigger. The fighting did not all take place in one day as well as many people think. Here is what the full fort looked like.

 

alamo-map-3.gif

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Gold Finger-migration

Gold Finger-migration

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You sure know your stuff AC regarding these coins. I would love to see a composite photo of your Arlington collection,...................That would be a treasure of a post.

 

Given your answers to my query to purchase a shipwreck Double Eagle in the MS65-64 range I can see that my desire will not be within my budget at this time unless my next lottery ticket is a winner.

 

What highest grade in shipwreck and or non shipwreck do you think I can obtain for $1000? takeit.gif

 

 

Thanks in advance

 

Best Regards,

 

Gold Finger

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Oldtrader3

Oldtrader3

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Posted

I have sold 90% of my gold coins in the past year, but I still have the 1892-CC, NGC, AU55, $10 Eagle shown below. CC coins are interesting and low mintage issues of US gold coins.

92-CCEagle.jpg92-CCEagleRev.jpg

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