No price bump for an 1889-S Coronet $20 double eagle from the Saddle Ridge Hoard?

Market Analysis: Despite market uncertainty, collectors still love buying gold coins
By , Coin World
Published : 11/10/16
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2016 has been a relatively good year for gold.

It started the year at $1,072.70 an ounce and then enjoyed steady gains this summer when it routinely hit the $1,350 level. It has moved down from those levels while people wait for the outcome of the presidential election and any potential market response that may impact precious metal prices.

RELATED: How slumping precious metals prices are affecting the rare coin market

Despite this uncertainty, collectors still love gold coins, especially rare and unusual ones.

Here is one of three from recent sales that caught my eye. 

The Lot:

1889-S Coronet $20 double eagle from the Saddle Ridge Hoard, MS-64+

The Price:


The Story:

The Saddle Ridge Hoard made big news in February 2014 when Kagin’s Inc. in Tiburon, Calif., announced the discovery of 1,427 19th century gold coins in eight metal canisters valued at more than $10 million. Most of the coins in the Saddle Ridge Hoard were Coronet $20 double eagles struck at the San Francisco Mint in the late 19th century. The coins were initially certified by PCGS and more than a dozen coins in the hoard were (or tied with) the finest PCGS certified examples.

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The hoard included 422 1889-S Coronet double eagles, including two that PCGS graded MS-65+. This 1889-S Coronet double eagle graded MS-64+ by Numismatic Guaranty Corp., but with the Saddle Ridge Hoard provenance, sold for $8,225 at Heritage’s August 2016 American Numismatic Association auction in Anaheim, Calif. The price realized was in line with prices that comparable non-Saddle Ridge examples had brought in recent transactions.

Keep reading this gold-rarity-themed Market Analysis:

American Eagle gold bullion coin rarityThe tiny mistake that makes this American Eagle gold $10 bullion coin a $10,000 rarity: The U.S. Mint was busy in 1999 striking gold coins to meet increased demand for physical gold. So, naturally, errors like the one this coin features happened.

50-year ANA membership medalWhose ANA 50-year membership gold medal brought more than $2,000?: The ANA has issued a variety of numismatic collectibles including membership medals, award medals and convention medals during its long history.

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