All that glitters is gold this week, as gold approaches the $1,100 per ounce threshold, Numismatic Guaranty Corp. announces that it has graded the 10 Langbord 1933 Saint-Gaudens gold $20 double eagles, and Stack's is set to auction a 1907 Saint-Gaudens, Ultra High Relief double eagle.

As noted on Page 1 of this issue, NGC graded the majority of the 10 coins Mint State 64, with one graded MS-65 and one, MS-66.

A numismatic parlor game of the past few months has been the question: What prices would these 10 1933 coins bring in the open market and how would they be sold? Of course, that would assume the coins could enter the market at all.

Perhaps one loser in this may be the individual who purchased the 1933 Saint-Gaudens double eagle that allegedly belonged to King Farouk at a Sotheby's/Stack's auction in 2002 for nearly $7.6 million. Should the 10 Langbord coins enter the market, the "Farouk" coin would be neither the finest known nor unique in the market.

Collectors of expensive late date Saint-Gaudens double eagles are well aware of the hazards in collecting them. While most European banks have cleared out their inventory, the chance remains that examples of rarities lurk, undiscovered.

At Heritage's Oct. 22 auction, a 1927-S double eagle, NGC MS-66, sold for $109,250. It has a mintage of more than 3 million and most were melted. Fifty years ago it was a fantastic rarity with just a handful known. Gradually, examples came out of European hoards and now, while still rare, Heritage suggests that 160 to 170 pieces survive.

One of the Langbord 1933 double eagles was given an Uncirculated Details grade with the notation "Improperly Cleaned." While not flawless, its desirability is indisputable.

A relative peer in rarity and demand, a 1907 Ultra High Relief double eagle, graded NGC Proof 58, is to be offered at a Stack's auction Nov. 10. The catalogue notes that possibly 24 1907 Ultra High Relief double eagles were struck, with two melted.

With the 2009 Ultra High Relief $20 generating buzz galore, one wonders if the magic will rub off on Stack's offering.