Selling Mid-Grade Double Eagles: My Practical Guide for Coin Collectors

Selling a few NGC-graded double eagles in upper AU to low MS grades recently turned out to be trickier than I expected. With gold prices up, I thought it’d be easy, but I learned a few things the hard way.

When Dealers See Bullion, Not Coins

Here’s what stung: dealers often treat common-date double eagles in these grades like raw metal, offering 5% below spot. Some might even melt them down. What frustrated me was seeing certified coins get treated this way – that slab guarantees authenticity, but in these grades, they barely fetch more than melt value. And selling online? With gold this high, the risks of fakes and shipping issues made me nervous.

What Actually Worked for Me

I tested several approaches to get fair value without losing the coins’ collector appeal:

• Local Dealers and Coin Shows: My best experience was at a coin show – quick, hassle-free, and dealers paid near melt without threatening to melt my coins.
• Auction Houses: While Heritage or GC might draw big bids, watch those fees (5-20%!). That $3,600 bid on a $3,337 melt coin? After 20% fees, you’re down to $3,000. Sometimes dealers offer better net.
• Direct Sales to Collectors: Forums can get you slightly better premiums, but you’ll need trust and caution to avoid scams.

Grading Reality Check

Here’s the truth about certification: NGC’s slab guarantees authenticity, but for common dates in low MS or AU? It hardly moves the needle. I’ve seen dealers consistently pay 95% of melt for quick sales on MS63 and below coins. The silver lining? Slabbed coins usually avoid the melting pot since they’re worth more intact.

My Hard-Earned Advice

After navigating this, here’s what I’d tell fellow collectors:

• Coin shows give the best balance of convenience and fair price
• Auction fees can eat your profits – always calculate net proceeds
• Private sales need safeguards: use secure payments and insured shipping
• Sometimes taking 95% of melt now beats waiting for a “better” offer that vanishes after fees

Parting Thoughts

This whole experience taught me to value simplicity and speed. Find buyers who appreciate these as historical artifacts, not just gold content. A bit of legwork makes all the difference – happy selling!