Jim Bisognani: Certified Saints Are a Bargain!

As we turn the page on the calendar to April, we here in New Hampshire are rejoicing the end of winter... theoretically. Wow, the ground (at last) is bare and free of any pockets of ice or snow! Touches of green can be observed peeking through the packed brown earth. Scores of robins have been frequenting the neighborhood, and MLB season has begun!

Unfortunately, as I type away this afternoon, we're in for about 4-5 inches of snow overnight... It's truly a shame that Mother Nature and Old Man Winter can't get on the same page. It's April Fools, a few days late.

Conversely, collectors and dealers I have been in contact with are still pretty much on the same page. Each faction seems excited and is reveling in the fact that gold remains on a mission and is bringing more excitement to the numismatic arena.

As gold spot continues to elevate on safe-haven buying and protection against the recently implemented higher tariffs by the US, gold in coin and bullion is being sought out in both small and large caches. Heck, as of the writing this article, gold spot is $3,130, which means melt value for a gold Double Eagle is $3,028! My fellow coindexters, the going rate for a very Choice $20 Saint-Gaudens graded NGC MS 64 is quoting at $3,160. That, my friends, is a mere 4.36% over melt. If that appears too "rich," consider this: MS 62 examples are 2.38% over melt and a Choice MS 63 example is 3.53% over melt!

Compare this to the 3.25% over spot being quoted for the new 2025 US $50 Gold Eagle. Gold Eagles are great and can be included in IRAs, but for me, although the numismatic component is now rather moot with gold spot trading at historic levels, it's a no brainer to buy certified $20 Saints at these levels.

One fellow coindexter, Ernie T. from Pennsylvania, advised me that his local coin club had put a 50/50 raffle together for when gold would break $3,100 per ounce. He said, "Yep, I won it, and the prize was a 1/10 ounce $5 US Gold Eagle. I will be keeping it as a pocket piece and, of course, in a safety flip. It is going to be kind of fun to be carting a little piece of gold with me in my daily travels."

Ernie then explained that his primary pursuit has been Capped Bust Half Dollars. "Listen," the Keystone State resident said, "I am in construction, finished carpentry and have a family of five. So, after providing for my wife and kids, I don't have that much disposable income — or time, for that matter — for my hobby. Fortunately, there is the internet for research and such."

Capped Bust Halves — a Great Series for Beginners and Experts

Ernie said that he has collected Capped Bust Halves for around 20 years. "I just like the coins. The design, the heft, the numerous Overton varieties and, most importantly for me, is the relative affordability. Look, if I have about $100 or so extra a month for my hobby, it's a good month for me. Luckily, I can squirrel a little bit more in the summer months, but for me, I like to make my purchases about three times a year."

Ernie was proud to share with me his two most recent acquisitions: an 1827 Square Base 2 and an 1830 Small 0 Capped Bust Half. Both are raw, but Ernie does plan on getting some of his coins certified and “slabbed” a little bit down the road.

Click images to enlarge.

Ernie paid $550 for the pair. "I really like both coins, especially the 1827," he said. "I think this coin might be an AU 55 or better, and the 1827 is a nice AU coin. Both are the clean, problem-free coins I like to add to my collection."

After seeing the images of the coins, I congratulated him on his acquisitions. I do agree that the 1827 is really nice and actually appears to be almost like a borderline Uncirculated coin. The 1830 is a clean AU 50 example, perhaps a tad better. A little research reveals that a coin of the caliber of Ernie's 1827 Square Base 2 sold at Heritage's FUN sale on January 14, 2025 for $528.

So, if my new friend had targeted that coin at auction in January, it alone would have eaten up nearly all of his $550, which he had paid for the pair. Ernie was excited, "Wow, I guess I did pretty well! It's like I got the 1830 for $12," he laughed. I reminded him that, after shipping and sales tax, he actually got the 1830 for free!

For reference, I pulled up this recent sale for a similar NGC-certified 1830 Small 0 variety graded AU 50, which also sold at the same FUN Heritage sale. It realized $360.

Not a Raw Deal at All!

So, considering Ernie paid $550 for the pair, I think he made out very well! At auction, he would have shelled out about $900 for the pair.

"I guess I did better than I thought," he said. "It was a case of good judgement and fortuitous opportunity, I reckon. Seriously, I still believe that Capped Bust Halves are great value, because I can still pick up nice VF-XF coins in the $75-$85 range at shows. But over the last few years, I’ve enjoyed saving up my money until I have enough to scout out a few better higher-graded ones, like the two coins I just got."

I concur that Capped Bust Halves as a series offer a wide assortment of common and very rare varieties. There's truly something that aligns with everyone's budget. I also think it's encouraging that collectors such as Ernie are using their grading knowledge and market intellect to purchase raw coins. After all, all certified coins were, at one time, raw and had to be submitted for grading and authentication.

As my fellow coindexter from Pennsylvania did, do yourself a favor and get familiar with a coin or series you are collecting. By all means, look for some unearthed, "raw" bargains. Then, of course, once you have acquired your coins, send some to NGC for grading, authentication and encapsulation. By doing so, you're not only protecting your treasured coins, but are also establishing a transparent value for potential heirs.

How is that, you say? Well, each coin graded by NGC possesses a high-security hologram and a unique QR code on the reverse of the slab. All you have to do is scan the QR code and it will take you to a detailed information page that includes images of the coin, along with its current market value.

Until next time, be safe and happy collecting!

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