Saint-Gaudens double eagle bought without ’substantial premium'
- Published: Nov 24, 2014, 9 AM
The following post is pulled from Coin World editor Steve Roach’s Market Analysis column in the Dec. 8 issue.
A collection as extensive as St. Louis numismatist Eric P. Newman’s has more than its share of top-tier rarities, but it also contains many other coins that are more ordinary. Heritage’s recent Nov. 14 and 15 auctions for the Eric P. Newman Numismatic Educational Society provided collectors a chance to buy a coin with a sensational provenance, at little or no premium to what an unnamed coin might bring.
The coin: 1923-D Saint-Gaudens double eagle, MS-65
The price: $1,762.50
The story: The illustrious Newman provenance didn’t do much to help the price of this 1923-D Saint-Gaudens $20 double eagle graded Mint State 65 by Numismatic Guaranty Corp. It sold for $1,762.50 on Nov. 14. At the same auction, a different example in the same grade brought $1,880 while another, graded MS-65+ with a green Certified Acceptance Corp. sticker indicating quality within the grade, realized $2,467.50.
This Denver Mint issue enjoys popularity with collectors because it’s slightly scarcer than the common late-Philadelphia Mint Saint-Gaudens double eagles, but in this grade doesn’t bring a substantial premium. Heritage writes that it “is an ideal choice for the collector seeking an attractive, well-produced type representative of an issue that is obtainable but not overly common.” For reference, on Oct. 13, Heritage sold another NGC MS-65 example — not from the Newman Collection — at the $1,821.25 level.
Read the rest of Steve Roach's market analysis:
More from CoinWorld.com: