Category Archives: gold double eagles

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A Golden Opportunity for U.S. Gold Coins: Jeff Garrett

Saint-Gaudens Double Eagle Gold Coins.

By Jeff Garrett for Numismatic Guaranty Corporation (NGC) ……
Jeff Garrett, Courtesy Numismatic Guaranty Company (NGC)In the last few weeks, gold has finally started to move in a positive direction as it briefly topped $2,000 USD for the first time in months. Tensions over global conflicts have once again made gold look attractive as a safety play. Almost daily we have clients calling and asking about how to buy gold to protect their assets. It will only take one headline crisis for gold to move to the next level.

The most immediate effect of the recent gold rise has been an upsurge in coin shipments. I would also guess that companies with a strong web presence that are devoted to bullion have also seen an increase in business. Many dealers whom I have contacted have bought much more than they have been selling. That is one of the reasons that the premiums for bullion-related objects are near recent lows.

This oversupply is also playing out in the rare and nearly rare coin market. Generic date, common issues of United States gold coins are selling for very low premiums once again. Much of this surplus is fueled by an avalanche of pre-1933 gold coins flowing back to the U.S. from Europe. During the Great Depression (1929-39) and before, large quantities of American gold coins were shipped to Europe as a standard course of international trade. No one really knew how much U.S. gold remained lurking in the vaults of European banks and other financial institutions.

Starting in the 1950s, some coin dealers began to repatriate these coins at a slow but steady pace. In the ’60s and ’70s, some previously rare-dated $20 double eagles appeared in these European shipments. Mega-rarities like the 1924-D, the 1925-D, and the 1926-S were found in quantity. A great narrative of this time period can be found in the seminal books on United States gold coins by David W. Akers that were first published in the 1970s. Akers knew much of this information firsthand, as he had handled many of these mini-hoards.

Many of the largest dealers of the day participated in this release of gold coins back into the domestic market. For years, that market has been orderly, with premiums changing based on the supply-and-demand issues of the day. In 1999, the premium for U.S. gold coins surged as citizens around the world prepared for the Y2K crisis that never materialized. There have been other ups and downs over the years, but gold coins have been a steady favorite of investors and those serving that clientele.

Today, the rare coin market is being faced with an unprecedented quantity of gold coins. These coins have been quietly entering the market for some time, but in the last few years some retailers have been loudly touting this newfound supply of U.S. gold coinage. At least one cable TV show has invested in a high-quality presentation featuring the story of these gold coins, and how they found their way to Europe for the last 100 years or more. Other retail operations have been running newspaper ads and selling by direct mail.

By now you are probably thinking that this part of the market should be avoided due to oversupply. I urge you to consider otherwise. There has never been a better time to start a collection of United States gold coins. Premiums for most double eagles, other than scarce or rare issues, have been crushed in the last year or so.

There is also a lot of market uncertainty due to the fact that no one really knows what is in the recent flows coming from Europe. A few of the major players have an idea, but I doubt any one person or group knows the full extent of what exists in these foreign holdings. Markets hate uncertainty, and that is one of the reasons prices have fallen so much. In time, this will be resolved as the coins are absorbed and more information becomes clear to researchers and collectors.

The knee-jerk reaction of most collectors and dealers is to fear large quantities of coins when they enter the market. Several years ago, when I handled the 16,000 coins in the New York Bank Hoard of Treasury-released silver dollars, I was asked by several dealers if this would kill the market for Morgan dollars. These individuals far underestimate the size of the market for rare coins. Those coins were sold to one company that sold every coin for retail, and the market was unaffected.

Going back decades, the same fears were felt when the Redfield Hoard of silver dollars entered the market. That hoard contained over 400,000 silver dollars, many of which were rare dates. The coins were expertly marketed, and prices actually rose based on the number of new collectors that were attracted to the hobby by the fascinating story of LaVere Redfield and his silver dollars. It should also be remembered that the GSA Hoard of Carson City Morgan dollars contained over 2.5 million coins, and these have now been fully dispersed and are widely collected.

The same opportunity awaits those interested in American gold coins, particularly double eagles. Savvy collectors and investors should take advantage of this market uncertainty and amazingly low prices. Many collectors are probably unaware of how many date and mintmark combinations of double dagles can be purchased for very little over the melt value.

The following is a list of 125 double eagles that can be purchased for less than $2,500 in About Uncirculated or Mint State:

1851, 1852, 1853, 1855, 1855-S, 1856, 1856-S, 1857, 1857-S, 1858-S, 1859-S, 1860, 1860-S, 1861, 1861-S, 1864-S, 1865-S, 1866 With Motto, 1866-S With Motto, 1867, 1867-S, 1868-S, 1869, 1869-S, 1870, 1870-S, 1871, 1871-S, 1872, 1872-S, 1873 Close 3, 1873 Open 3, 1873-S Close 3, 1873-S Open 3, 1874, 1874-S, 1875, 1875-S, 1876, 1876-S, 1877, 1877-S, 1878, 1878-S, 1879, 1879-S, 1880, 1880-S, 1881-S, 1882-S, 1883-S, 1884-S, 1885-S, 1887-S, 1888, 1888-S, 1889, 1889-S, 1890, 1890-S, 1891-S, 1892-S, 1893, 1893-S, 1894, 1894-S, 1895, 1895-S, 1896, 1896-S, 1897, 1897-S, 1898, 1898-S, 1899, 1899-S, 1900, 1900-S, 1901, 1901-S, 1902, 1902-S, 1903, 1903-S, 1904, 1904-S, 1905, 1905-S, 1906, 1906-D, 1906-S, 1907, 1907 Arabic Numerals, 1907-D, 1907-S, 1908 No Motto, 1908 With Motto, 1908-D No Motto, 1908-D With Motto, 1909, 1909-S, 1910, 1910-D, 1910-S, 1911, 1911-D, 1911-S, 1912, 1913, 1913-D, 1914, 1914-D, 1914-S, 1915, 1915-S, 1916-S, 1920, 1922, 1923, 1923-D, 1924, 1925, 1926, 1927, 1928

For those who find the starting price a bit high for double eagles, you might consider $5 half eagle and $10 eagle gold coins. Most groups of European gold have never contained the smaller denominations (Gold Dollars and $2.50 quarter eagles). The above mentioned, however, are often seen in quantity. There are dozens of dates for beginner collectors to choose from, and starting a set of these has never been more affordable in relation to gold.

The most recent groups of gold have also contained some interesting coins starting in the 1840s. Nearly every United States Mint (with the exception of Dahlonega and Charlotte) that produced gold coins is represented as well, including Carson City and New Orleans. The majority of the coins I have seen have also been fresh and original. The collector-driven market for originality makes these particularly appealing.

Someday soon the dispersal of European gold will be over, and this golden opportunity will have passed. As value investor Warren Buffett has been quoted as saying, “Attempt to be fearful when others are greedy, and to be greedy only when others are fearful.” In my opinion, this wisdom holds just as true in numismatics as it does in the stock market.

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Rare Chance for Gem 1929 Double Eagle at GreatCollections

GreatCollections is offering collectors a seldom-seen opportunity to purchase a high-grade 1929 Saint. With a surviving population of 350 in all grades thanks to the gold melt of the 1930s, examples in MS-65 are rarely encountered; in fact, there are only 18 examples graded higher. Bidding for this special coin ends on Sunday, March 5, […]

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Rare Chance for Gem 1929 Double Eagle at GreatCollections

GreatCollections is offering collectors a seldom-seen opportunity to purchase a high-grade 1929 Saint. With a surviving population of 350 in all grades thanks to the gold melt of the 1930s, examples in MS-65 are rarely encountered; in fact, there are only 18 examples graded higher. Bidding for this special coin ends on Sunday, March 5, […]

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Rare Proof 1864 Double Eagle Sells for $613,125 at GreatColletions

On September 25, 2022, GreatCollections is offered collectors a rare opportunity to bid on a spectacular early US Civil War Ultra Cameo Proof 1864 gold double eagle. Graded and certified by NGC as PF 65 UCAM, this highly desirable coin garnered considerable attention, registering 71 bids on its way to a final price of $613,125 […]

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United States 1925 Saint-Gaudens $20 Double Eagle Gold Coin

By 1925, gold coins had mostly fallen from circulation within the United States. Instead, the Government intended these coins to fulfill two main roles: to be exported as payment for trade deals and to back US gold certificates. Specifically, the coins’ role of backing gold certificates was of high importance because by law the certificates […]

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Mike Byers Mint Error News – Unique Broadstruck 1906-D $20 Liberty

By Mike Byers for Mint Error News …… 1906-D $20 Liberty Head Double Eagle Broadstruck (Out of the Collar) NGC AU 58 UNIQUE   This is the only known United States $20 Gold Piece that was broadstruck out of the collar. It expanded in size and has a plain edge. There are five to seven […]

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Monumental Proof 1885 Double Eagle Featured in Stack’s Bowers Winter Expo Auction

By Christopher Maisano – Numismatist, Stack’s Bower Galleries …… The 1885 Proof double eagle is among the rarest Proof $20s, and we are pleased to offer an exciting example graded Proof-67 Deep Cameo by PCGS and with CAC approval in the Stack’s Bowers Galleries Whitman Winter Expo Auction. It is an impressive, pristine beauty with […]

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Rare Proof 66 1913 Saint-Gaudens Double Eagle at GreatCollections

Biding is now live at GreatCollections.com for the opportunity to acquire a stunning Proof 1913 Saint-Gaudens $20 gold double eagle. Certified and graded as PR 66 by PCGS, this high-grade coin also received a green CAC sticker, meaning that CAC considers it a strong example of the grade. A notable rarity, this particular coin is […]

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1927-D Double Eagle Sells for Record $4.44 Million at Heritage US Coins Auction

Previous record was $2.16 million, also at Heritage   An exceedingly rare 1927-D Double Eagle MS66 PCGS, part of The Bob R. Simpson Collection, Part IX, soared to a record $4.44 million USD at Heritage Auctions US Coins Signature Auction. The result shattered the previous record for the 1927-D Double Eagle of $2.16 million at […]

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United States 1904 Liberty Head $20 Double Eagle

By 1904, the United States’ large format gold double eagle had begun to fall in popularity and had practically ceased to circulate. As a result, production far outstripped demand, and while gold coins were still used in many of the western states, most US citizens would not use gold coins in regular commerce. This was […]

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United States 1921 Saint-Gaudens Double Eagle $20 Gold Coin

The Saint-Gaudens $20 gold double eagle is one of the most famous of all American coin types, acclaimed as one of the most beautiful and artistic numismatic designs ever realized in the United States. Its existence came only at the insistence of President Theodore Roosevelt, who sought for years to beautiful America’s humdrum coin designs. […]

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NGC Presents Last Great Mystery of SS Central America Shipwreck

On September 3, 1857, SS Central America began a voyage from Panama to New York City carrying very important cargo: thousands of freshly minted gold coins from California, desperately needed by New York banks that were facing an economic crisis. Six days later, the ship found itself in the grips of a Category 2 hurricane […]

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United States 1908 No Motto Saint-Gaudens Double Eagle $20 Gold Coin

Acclaimed as one of the most beautiful and artistic numismatic designs ever realized in the United States, the Saint-Gaudens $20 gold double eagle is also one of the most famous of all American coin types. Its existence came only at the insistence of President Theodore Roosevelt, who, over Mint objections, sought for years to beautify […]

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Bowers on collecting: Liberty Head double eagles

Time flies, and it seems like only yesterday that I with the help of Robert J. Galiette created what turned out to be a very popular book: Liberty Head Double Eagles 1849-1907: The Gilded Age of Coinage

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Bowers on collecting: Liberty Head double eagles

Time flies, and it seems like only yesterday that I with the help of Robert J. Galiette created what turned out to be a very popular book: Liberty Head Double Eagles 1849-1907: The Gilded Age of Coinage

Continue reading on Coin Update News

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Heritage Auctions sells more U.S. Coins than all other auctioneers combined during first six months of 2020

Record Sale: $2,160,000 for a 1927-D Saint-Gaudens gold $20 (Double Eagle) sold by Heritage Auctions in January 2020. Images by Heritage Auctions

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Bowers on collecting: Some really rare $20 gold coins

A Real 1850 Double Eagle
In 1926 numismatists and others were startled when they read this Associated Press dispatch datelined Demopolis, Alabama:
Aided by old papers his father left him, Gayus Whitfield, of Middleboro, Ky., has unearthed buried gold valued at more than $200,000 on the Whitfield farm, near here

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Bowers on collecting: Some really rare $20 gold coins

A Real 1850 Double Eagle
In 1926 numismatists and others were startled when they read this Associated Press dispatch datelined Demopolis, Alabama:
Aided by old papers his father left him, Gayus Whitfield, of Middleboro, Ky., has unearthed buried gold valued at more than $200,000 on the Whitfield farm, near here

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Heritage Auctions sells more U.S. Coins than all other auctioneers combined during first six months of 2020

Record Sale: $2,160,000 for a 1927-D Saint-Gaudens gold $20 (Double Eagle) sold by Heritage Auctions in January 2020. Images by Heritage Auctions

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Jeff Garrett: Double Eagles a Once-in-a-Lifetime Opportunity

Many Double Eagles are selling for close to melt value, making these classic gold coins easy to acquire   By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… I have been an observer of numismatic market trends for over 40 years. During that time, rare coins have risen and fallen sharply many times. Historically, the […]

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Strong demand for latest SS Central America treasure

The Ship of Gold is sailing quickly. A total of 2,935 U

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U.S. Mint Senior Legal Counsel Greg Weinman to present 1933 gold double eagle lecture at the Spring PAN Coin Show

Pittsburgh, PA — Greg Weinman, senior legal counsel at the United States Mint, will present a lecture focusing on the litigation involved with the 1933 double eagle coins. Mr

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U.S. Mint Senior Legal Counsel Greg Weinman to present 1933 gold double eagle lecture at the Spring PAN Coin Show

Tom Uram (left) with Greg Weinman (center).
Pittsburgh, PA — Greg Weinman, senior legal counsel at the United States Mint, will present a lecture focusing on the litigation involved with the 1933 double eagle coins

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Circulated Liberty Head Double Eagles ($20 Gold Coins), Type 2

Coin Rarities & Related Topics: News and Analysis regarding scarce coins, markets, and coin collecting #391 A Weekly Column by Greg Reynolds ….. Liberty Head double eagles ($20 gold coins) were minted from 1850 to 1907. Before 1850, the largest U.S. coin denomination was the $10 gold piece (the eagle). This discussion is about collecting circulated […]

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So, You’ve Decided to Collect Liberty Head Double Eagles…

By Doug Winter – RareGoldCoins.com …… The decision to collect this series should not be made lightly as Liberty Head double eagles have the distinction as being among the most difficult and longest-lived series in all of 19th/early 20th century American numismatics. Specializing in 20 Libs requires patience, a healthy budget (although there are ways […]

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So, You’ve Decided to Collect Liberty Head Double Eagles…

By Doug Winter – RareGoldCoins.com ……   The decision to collect this series should not be made lightly as Liberty Head double eagles have the distinction as being among the most difficult and longest-lived series in all of 19th/early 20th century American numismatics. Specializing in 20 Libs requires patience, a healthy budget (although there are […]

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1861-P Paquet Reverse Features in $16 Million Type I Double Eagle Display at January FUN

Gold Coin Worthy of a King Makes First Appearance in a Decade By Monaco Rare Coins …… The finest known of only two 1861 Philadelphia Mint Paquet Reverse Double Eagles, graded NGC MS67, has been sold and will be publicly displayed for the first time in a decade during the January 2017 Florida United Numismatists […]

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Heritage – Saint-Gaudens Gold Highlights $12 million New York Coin Auction

Rare double eagles from The Cherny Collection, topped by a Gem 1920-S piece, provided many of the highlights as Heritage’s October 31-November 2 New York Signature auction realized in excess of $12.4 million USD. All prices include a 17.5% Buyer’s Premium. The Cherny Collection supplied numerous rare Saints to this auction. The highlight was the […]

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A Relative to the Confederate Half Dollar? 6 U.S. Highlights in Sedwick Treasure Auction 20

By Cori Sedwick Downing – Daniel Frank Sedwick, LLC …… While Spanish colonial and shipwreck coins make up much of our November Sedwick Treasure Auction , a number of other collecting areas are well represented. We’ve already taken a look at paper money, so let’s turn to U.S. rarities coming up for auction. Lot 1401 – […]

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Building a World Class Numismatic Gold Coin Collection: The Josiah K. Lilly Collection, Pt. 6

By Harvey Stack – Founder, Stack’s Bowers …… Part 1 | Part 2 | Part 3 | Part 4 | Part 5 During the fall of 1955 and winter and early spring of 1956, Stack’s continued building segments of the J.K. Lilly Collection, keeping him informed while he spent his winter in Florida. We sent […]

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Building a World Class Numismatic Gold Coin Collection: The Josiah K. Lilly Collection, Pt. 5

By Harvey Stack – Founder, Stack’s Bowers …… Part 1 | Part 2 | Part 3 | Part 4 In my last article (see Part 4, above), I told of being with Josiah Lilly when he learned that the polio vaccine his company had been working on was approved for use. Here I continue with […]

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Classic US Coins – Art and Numismatics

Collecting coins based on art is an endless journey and one that should give you a different perspective of the hobby By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… Last week I had the pleasure of traveling with a friend to Cornish, New Hampshire on a very interesting numismatic road trip. Cornish, New Hampshire […]

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Coin Collecting and Numismatics – Thoughts on Rarity, Part 3

By Harvey Stack – Founder, Stack’s Bowers…. Part 1 Part 2 Here I continue my thoughts on rarities, and the factors that affect this important aspect of numismatics. As noted, true rarity cannot be caused by a collector through hoarding or manipulation, although sometimes temporary rarity can be achieved. During the early days of the […]

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US Gold Coins: Are 1870-CC Eagles Undervalued in Comparison to their Double Eagle Counterparts?

By Doug Winter – RareGoldcoins.com CoinWeek Content Partner………. Without a lot of fanfare, we have seen the dispersal of one of the most amazing collecting of Western branch mint gold coins in the history of numismatics. So far in 2014, the various sales of the Bently/Nob Hill Collection(s) of US Gold Coinage has seen no […]

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