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- - Lower grade slabbed Double Eagles as bullion alternative?? (http://goldismoney.info/forums/showthread.php?t=398725)

Curio Bill | 08-12-2009 07:40 PM
Lower grade slabbed Double Eagles as bullion alternative?? Is this a dumb idea?? Can Lower grade (AU to MS62) slabbed Double Eagles serve as an acceptable alternative to GAE or Krug bullion coins?? My reason is that the high grade (MS64 & MS65) slabbed Double eagles & Saints are currently going for a min. $1800-$2300 to $3000, roughly double+ over melt value. Lower grade (AU to MS62) slabbed Double Eagles & Saints are currently going for about $1100-$1300 on ebay, roughly $150-$300 over melt value. There is enough cheapskate in me that I kinda like the idea of having TWO AU58 or MS61 eagles instead of ONE MS64 coin. I know that the high grade coins have the greatest potential to go "to the moon", but that assumes there will be a strong numismatic collector market base to pay those prices. The bullion market is at least somewhat based on the assumption that we'll soon be buying bread loaves with pre-65 Mercury dimes once the green paper dies off. Doesn't this approach sorta "split the difference" between those two extremes, while still allowing one to collect fairly nice gold coins for a "not too high" premium over melt?? Am I missing something with this approach?? Thanks, Bill.

gopher29 | 08-12-2009 07:45 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? As someone on a restrictive budget, I'm in your camp. I would rather own two AU-58 coins if I could get them for roughly the same price as one MS-64.

Ag_man | 08-12-2009 08:17 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Stupid question, do Saints/Double Eagles have a full toz of gold in them?

icq182 | 08-12-2009 08:30 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? pretty sure they have 0,9675 toz back then we had gold pegged at 20,67$/toz... so that sounds about right for a 20$ coin. you might want to do a scroogle search to confirm before you go buy any up. Seems like a very high premium over spot, I would buy a few if you really like to own them, but in terms of practicality, there're probably better deals out there, like... mercury dimes

Ag_man | 08-12-2009 08:38 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by icq182 (Post 1865667) pretty sure they have 0,9675 toz back then we had gold pegged at 20,67$/toz... so that sounds about right for a 20$ coin. you might want to do a scroogle search to confirm before you go buy any up. Seems like a very high premium over spot, I would buy a few if you really like to own them, but in terms of practicality, there're probably better deals out there, like... mercury dimes
You're right, 0.9675 toz for Saints and DE's. Thanks. http://www.onlygold.com/TutorialPage...eenVersion.htm

esoteric | 08-12-2009 09:39 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? you could just buy raw coins instead of a GAE or maple. you get a lot of packed in history with the age for less then $100 over the GAE.

foolsgold | 08-12-2009 10:37 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? I bought MS61's and MS62's from gainsvillecoins back in Jan 2007 they were all $675-$695. POG at the time was $625 and GAE's were going for $650. [edit] They were all common date $20 gold coins a mixture of Libs and Gaudens. My reasoning was that since I knew squat about numismatics I was going to buy certified coins with the closet relationship to spot gold price. These have since doubled in price. They are a mixture of NGC and PCGS. I think these lessor value certified coins would be counterfeited less than the higher MS grades. These coins have done better than the bullion coins I bought at the same time. Remember certified coins fluctuate from time to time independent from the POG.

gopher29 | 08-13-2009 10:47 AM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by Ag_man (Post 1865646) Stupid question, do Saints/Double Eagles have a full toz of gold in them?
There are no stupid questions, only stupid answers, and this is one of them. The original poster is asking whether he should purchase two lesser grade double eagles or one higher grade specimen. What does that have to do with gold content? Remember, this is the numismatic forum and you bullion-obsessed people have tunnel vision sometimes.

Ag_man | 08-13-2009 12:46 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by gopher29 (Post 1866379) There are no stupid questions, only stupid answers, and this is one of them. The original poster is asking whether he should purchase two lesser grade double eagles or one higher grade specimen. What does that have to do with gold content? Remember, this is the numismatic forum and you bullion-obsessed people have tunnel vision sometimes.
The title of the thread is " Lower grade slabbed Double Eagles as bullion alternative?" I would think the amount of gold would matter in the case of of a bullion alternative, no?

gopher29 | 08-13-2009 02:48 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by Ag_man (Post 1866550) The title of the thread is " Lower grade slabbed Double Eagles as bullion alternative?" I would think the amount of gold would matter in the case of of a bullion alternative, no?
I hate to speak for someone else but I don't think the original poster was implying that he thought he was ever going to be able to purchase these coins in any grade for spot price. I suspect he is aware that these coins always carry a substantial premium over modern bullion.

Curio Bill | 08-13-2009 05:49 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by gopher29 (Post 1866723) I hate to speak for someone else but I don't think the original poster was implying that he thought he was ever going to be able to purchase these coins in any grade for spot price. I suspect he is aware that these coins always carry a substantial premium over modern bullion.
He (I) know(s) that.......:5_1_120:

Curio Bill | 08-13-2009 05:54 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by foolsgold (Post 1865837) I bought MS61's and MS62's from gainsvillecoins back in Jan 2007 they were all $675-$695. POG at the time was $625 and GAE's were going for $650. [edit] They were all common date $20 gold coins a mixture of Libs and Gaudens. My reasoning was that since I knew squat about numismatics I was going to buy certified coins with the closet relationship to spot gold price. These have since doubled in price. They are a mixture of NGC and PCGS. I think these lessor value certified coins would be counterfeited less than the higher MS grades. These coins have done better than the bullion coins I bought at the same time. Remember certified coins fluctuate from time to time independent from the POG.
That is a good way to say what I was originally trying to ask. Right now I would be hard pressed to tell a lusterous AU coin from a MS63 (I have heard that lusterous AU coins DO sometimes exist & that they often look "better" than low MS coins), so I was thinking about purchasing a reasonably good looking coin for a reasonably decent premium over spot. I mean it is really only a matter of degree since even GAEs carry about a $50 premium over spot.

HistoryStudent | 08-16-2009 04:09 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Sometimes AU58s looks better than MS62s: so I always think about AU58s in rare coins............. HS :thumb.aspx:

andial | 08-16-2009 06:53 PM
Re: Lower grade slabbed Double Eagles as bullion alternative?? Quote:
Originally Posted by foolsgold (Post 1865837) I bought MS61's and MS62's from gainsvillecoins back in Jan 2007 they were all $675-$695. POG at the time was $625 and GAE's were going for $650. [edit] They were all common date $20 gold coins a mixture of Libs and Gaudens. My reasoning was that since I knew squat about numismatics I was going to buy certified coins with the closet relationship to spot gold price. These have since doubled in price. They are a mixture of NGC and PCGS. I think these lessor value certified coins would be counterfeited less than the higher MS grades. These coins have done better than the bullion coins I bought at the same time. Remember certified coins fluctuate from time to time independent from the POG.
Yes those MS61 and MS62 twenty dollar coins did very well over the last two years. :ok:

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