It has been some months now since the 2009 Ultra High Relief Saint-Gaudens gold $20 piece went off sale.
After being available for nearly all of last year and collectors buying 115,178 of them, the coin has fallen off the average collector’s radar screen.
Coin Market editor Harry Miller says the coins are trading at about $1,685 on the retail market if you want to buy one.
That’s about 37 percent over bullion value.
Though you will likely not get an MS-70 version, it is interesting to see that the coin is priced almost as if the U.S. Mint was still selling them. The current mark-up over bullion is virtually identical to what the U.S. Mint would charge a collector.
So on the positive side, collectors who are late to the party are being penalized only by the amount gold bullion has risen in price since the first coins were sold in January 2009.
That’s not a bad deal, but it should also serve as a warning that the gold bullion content aside, it is not likely to be a 2010 speculative darling. Investors are not likely to find it appealing.
Does it matter?
It is important that collectors buy it because they love the beauty of the work as the artist originally intended it to be seen and not as an effort compromised by the stacking needs of the nation’s banks as circulation strikes of 1907-1933 are.
Shouldn’t that be enough?