My Experience Selling Mid-Grade Double Eagles: A Collector’s Guide

Selling a couple of NGC-graded double eagles in upper AU to low MS grades recently put me in a tough spot. Gold prices were high, so I figured it’d be a breeze. But the market turned out to be trickier than I thought. Dealers offered me 5% under spot, treating my coins like scrap gold. That was a real letdown. I knew these coins had collector value, so I set out to find a better way to sell them — without seeing them melted down!

When Dealers Only See Melt Value

When I took my coins to local coin shops and gold dealers, they hardly looked at the grades. All they cared about was the melt value. One dealer even told me they’d probably just melt them down for quick cash — that made me cringe. It hit me: for common-date double eagles in mid-grades like AU or low MS, the collector premium is pretty thin these days. With gold at about $3,400 an ounce, dealers said they needed a cushion for risk. But it still felt like a lowball on certified coins. That’s when I started looking for places where collectors would actually care about the coin’s authenticity and condition.

Trying Different Sales Approaches

I tried a few different ways to sell, and here’s what I found:

• Coin Shows: Going to a local coin show made a big difference. The dealers there were more into coins, and I sold one piece quickly with no fees. It was simple and straightforward, and I got a fair price close to spot. Plus, I avoided the risks of selling high-value coins online.
• Auction Houses: I thought about online auctions, like HiBid or Heritage, where bidding can sometimes go through the roof. But I did the math: auction fees can run from 5% to 20% of the hammer price, and buyers often factor that into their bids. For instance, with gold at $3,337, a $3,600 winning bid with a 20% buyer’s fee would leave me with just $3,000 after the house takes their cut. That’s less than I’d get selling to a dealer at 95% of spot ($3,170). For rarer dates, though, auctions might be worth it.
• Direct Sales to Collectors: Listing on collector forums or sales boards cuts out the middleman. I found that having an NGC slab builds trust, so buyers might pay a little extra. It does take work to set a fair price and ship securely, but if you find the right buyer, it can pay off better.

What I Learned About the Market

Along the way, I picked up a few things about the market. For double eagles, coins graded below MS63 are often seen as bullion, especially common dates. NGC certification guarantees they’re real, which is key when selling online, but it doesn’t boost the price much beyond that — dealers and collectors know the melt value is the starting point. With gold prices up, premiums get squeezed, so timing is everything. I looked at sites like APMEX and saw random-year MS61 coins going for near spot. That confirmed the tiny collector premium I was hoping for just isn’t there much anymore. On the bright side, certified coins are less likely to be melted because they’re easier to trade.

What Worked for Me

If you’re in the same boat, here’s what I’d suggest:

• Know Your Numbers: Always figure out what you’ll actually get after fees, shipping, and taxes. Shoot for at least 95% of spot to do better than a dealer offer.
• Choose Your Venue Wisely: If you need cash fast, coin shows or direct sales are your best bet. For a chance at a higher price, auctions might work, but check the terms carefully — some auction houses charge lower fees for expensive lots.
• Make the Most of Certification: Be sure to mention the NGC grading in your listings. It gives buyers confidence and might draw in collectors, even if the extra money isn’t huge.
• Keep an Eye on Gold Prices: Gold moves every day, so try to sell when it’s high. Apps like Kitco are handy for checking spot prices in real time.

In the end, I went with a mix of coin shows and direct sales, and ended up with good returns without too much stress. Selling mid-grade double eagles taught me that the market can be tough, but patience and smart choices pay off. It’s a good problem to have — owning gold in such beautiful coins — and I’m glad I made it through without watching my coins head to the smelter!