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We used high-resolution near-infrared spectroscopy from the NIRSPEC instrument on the Keck II telescope, taken over multiple epochs spanning five years, to examine two young binary T Tauri star systems, S Corona Australis and VV Corona Australis. The stars in these 1-2" separation systems have optically thick circumstellar disks and high extinctions at optical and near-infrared wavelengths. Using a combination of new and archival data, we have determined the spectral types of all the stars in these two systems for the first time, examined the variable NIR veiling, measured the emission line equivalent widths, and created spectral energy distributions. They have similar spectral types (K7-M1) and are at approximately the same evolutionary stage, allowing comparison of the four stars in the two systems. We conclude that S CrA and VV CrA are young binary systems of stars bridging the Class I and Class II evolutionary stages, characterized by high accretion luminosities and variable emission lines., Comment: 16 pages, accepted to The Astrophysical Journal