My Journey Selling Mid-Grade Double Eagles: Insights and Advice

As a lifelong coin collector, I recently decided to sell several NGC-slabbed double eagles in upper AU and low MS grades. With gold prices climbing, I thought it would be straightforward, but the mid-grade status of these coins taught me some unexpected lessons. Here’s what I learned firsthand.

Understanding the Market for Mid-Grade Gold

I quickly discovered common-date double eagles below MS63 often trade more like bullion these days. Even with NGC certification backing their authenticity, the collector premium shrinks to almost nothing. Most dealers offered about 5% below spot, treating them as liquid gold rather than numismatic treasures. With melt values around $3,300-$3,500 per ounce recently, that discount hurts – a clear sign of how high gold prices squeeze out extra value.

Evaluating Your Selling Options

I tested several approaches to move these coins without giving away the farm. Here’s what I found:

• Local Coin Dealers and Shops: Fast and simple – walk in with coins, walk out with cash. But offers consistently ran 5% under melt, and I suspected some might end up melted. Good for quick cash, though it feels wrong for coins with history.
• Auction Houses and Online Platforms: Places like Heritage can spark bidding wars, but watch those fees! With buyer premiums hitting 10-20%, you might net less than a dealer offer. Say melt’s $3,337 and a $3,600 bid sounds great – but after 20% fees, you’re down to $3,000. That’s worse than a dealer’s $3,170 at 5% under.
• Coin Shows: My favorite method. Meeting collectors face-to-face felt rewarding, and I avoided fees entirely. Several appreciated the certification, paying a small premium that kept coins circulating.
• Direct Sales to Collectors: Online forums and marketplaces worked well when I priced fairly – near melt with a slight bump for slabs. Being upfront about dates and grades attracted serious buyers quickly.

Grading and Certification Tips

Those NGC slabs proved crucial for establishing authenticity, especially with gold where fakes abound. But for mid-grade double eagles, certification mainly prevents melting – it rarely adds meaningful value unless you’ve got scarce dates. Dealers can move them easier, but don’t expect premiums.

Practical Strategies for Maximizing Your Return

After trial and error, here’s my advice: If speed matters, take the dealer route or sell online. For better returns, hit coin shows or sell direct to collectors where fees vanish. Always run the numbers – auction hammer prices can be deceiving after fees. And watch gold’s swings; sell during calm periods to avoid getting caught in a downdraft.

Selling these mid-grade double eagles reminded me they’re valued more for their gold than their grade right now. But with some patience and the right approach, you can respect their history while getting a fair price.