Market Analysis: 2009 Ultra High Relief Double Eagle

With all the hoopla surrounding the palladium eagles this week – and don’t take this author wrong, the hoopla may well be appropriate as they’re beautiful!.. perhaps it’s a good time to look back the Ultra High Relief Double Eagles.

Great coins. They’re just beautiful. Some prefer the originals, but some like the modern interpretation. They’re both right.

2009 Ultra High Relief St. Gaudens Double Eagle Gold Coins

2009 Ultra High Relief St. Gaudens Double Eagle Gold Coins

Let’s look at them in 70.

Right when the coins came out, the mint sold them for just under $1200. Back then, gold was $860 an ounce. Remember those days?

As soon as the grading companies got them, it looked like 70s were out there. Nonetheless, pretty quickly MS 70s started trading over $2k – in fact they were steady at $2300 for a while.

They steadily climbed and for a while, were going for $5 or six-thousand around 2012. Some of this was speculation as they just kept going up and up and PLs started to become harder find. And, as of course you know, not all 70s are created equal.

How the mighty have fallen. Here we are in 2018 and you can pick up a nice MS-70 for under $2k, for the first time in a while.  Seems like they troughed last year, too. But this time the trough feels like it might last longer. And I say it’s a good thing. More of these beauties for me to buy cheap!

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