MS66 Saint-Gaudens Double Eagles
By Brian Zweig
As many of our clients are aware, the $20 Saint Gaudens Double Eagle is one of our very favorite coins. These big, beautiful, and immensely popular pieces are one of the best ways to own numismatic gold. Few other coins can boast such an intriguing back story, gorgeous design, and attractive price point.
Over the years, we’ve offered some outstanding deals on $20 Saints – including some great opportunities for scarce, mint-marked and low-premium issues. However, it’s unusual for us to have MS66 $20 Saint-Gaudens Double Eagles available.
Why? These “super-grade” Saints are extremely difficult to find. We see small groups here and there, but hardly ever do we see a significant quantity in one place. Secondly, MS66 coins currently represent an outstanding value. They’re trading for $1,000 less than where they were just a few short years ago! If your portfolio doesn’t contain MS66 $20 Saints, now is the time to add them.
Perhaps you’ve never encountered an MS66 $20 Saint-Gaudens Double Eagle – and there’s an excellent reason why. When $20 Saints were produced by the U.S. Mint, they were often dumped into giant hoppers once they came off the dies. They immediately started to acquire marks and abrasions from making contact with other coins. From there, Double Eagles were usually shipped off in canvas bags. The coins would continue to jostle around and take on even more nicks. Even before a $20 Saint entered circulation, there’s a good chance it deteriorated to MS62-MS63.
One of our trading partners, for example, has uncovered some original hoards of $20 Saints in Europe. Even though these coins never entered circulation and went untouched for decades, the coins tended to grade no better than MS63.
So how rare, exactly, are MS66 $20 Saints? We believe less than 1% of all $20 Saint-Gaudens Double Eagles in existence have survived in MS66.
To give some context, there are probably 4,000,000+ $20 Saints in existence across all grades. This includes “raw” worn/circulated, uncertified coins. As for graded specimens, NGC has certified approximately 970,000 pieces. Of those, fewer than 20,000 coins have qualified for the MS66 grade. It’s a miniscule percentage, but given how these coins were handled over the decades, these figures make sense.
What doesn’t make sense, however, is how MS66 Saints are currently priced. There are three reasons why these coins are severely undervalued today:
- Limited Supply for a Huge Audience
The Saint-Gaudens series is quite possibly the most popular of all U.S. gold types. We estimate that more collectors and investors own $20 Saints compared to any other vintage gold coin. The series also has tremendous crossover appeal with American Gold Eagle buyers. When the bullion market heats up, investors often “discover” the $20 Saint-Gaudens coin due to its common design, the Gold Eagle. With fewer than 1% of all $20 Saints grading MS66, we see a severe mismatch between supply and total current/potential demand.
- Priced Well Below Recent/All-Time Peaks
Today, a $20 Saint has a melt value of over $1,250. Any coin is worth that. In most Uncirculated grades, they sell for $1,350-$1,450. With that in mind, logic would indicate that an MS66 should sell for at least triple or quadruple that. For much of the past decade, that’s exactly how MS66 Saints were priced. In 2007, for instance, spot gold was in the $800's and MS66 Saints were $3,000. When spot crossed $1,000 an ounce in 2009, MS66 Saints surged to a peak of $4,160. Now spot is hovering around $1,300, yet incredibly we can sell you MS66 Saints in the low $2,000's!
- Massive Spread to MS67
MS66 Saints are rare – but MS67 specimens are basically non-existent. This is definitely reflected in their pricing. Every With Motto $20 Saint in MS67 carries an NGC Price Guide value of $12,250 or higher. With MS67 pieces selling for 4x to 10x the price of an MS66, they are completely unaffordable to the average collector. This giant spread between the grades makes MS66 coins an outstanding value with significant room to advance in price.
Why are MS66 Saints especially compelling now? In 2016, they were selling in the mid to high $3,000's. As recently as December of 2016, the NGC Price Guide was $3,950. Today, the Price Guide value is $2,650; MS66 Saints are clearly “on sale” and trading at an absurdly discounted premium!
Quiet markets like this provide savvy investors with superb opportunities – and this is a prime example. At no point in the past 10+ years have MS66 Saints been so affordable. The last time they were under $3,000, spot gold was still in the $800's. Even in 2005, when gold was in the $500's, MS66 Saints were still wholesaling for $2,500-$3,000!
Today's Spotlight Coin
MS66 Saints might be on sale, but supply remains tight. We have exactly nineteen (19) coins available for purchase at the following prices:
- Buy one coin and your cost is $2,299* delivered. There are just 4 individual coins available.
- Buy two coins and receive two different dates for $2,249* each delivered. There are only 3 two-coin sets.
- BEST VALUE: When you buy three coins, you'll save $300 and receive three different dates for $2,199* each delivered. Please note that very few of these three-date sets are available.
Each of these MS66 Saints has been hand-picked by us for quality. Commensurate with the grade, they exhibit virtually immaculate surfaces, intense luster and outstanding eye appeal.
For a Saint-Gaudens Double Eagle to qualify as an MS66, it must truly dazzle. There’s a reason why so few make the cut!
We doubt MS66 Saints will be buyable at tiny premiums for long. ASI has been an active trader in Saint-Gaudens Double Eagles for decades and a major supplier of graded coins for many years. We’ve never seen MS66 pieces available at such heavily discounted levels. There’s a reason why we rarely feature them in our monthly spotlight; the coins simply haven’t been available before now!
This is a special opportunity to acquire some of the finest $20 Saints in existence – at a previously unheard-of price. Please call us today at 800-831-0007 or email us to purchase "super-rare" MS66 Saint-Gaudens Double Eagles.
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Free shipping, handling, and insurance are available for all quantities ordered. Offer expires Friday, April 5, 2019, or while supplies last.