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"Stack's West 57th Street Collection" Hoard 30 Tons

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Pillar of the Community
United States
1130 Posts
 Posted 03/11/2014  7:41 pm Show Profile Check Tbone's eBay Listings Bookmark this topic Add Tbone to your friends list Get a Link to this Message

That's right, 30 tons. More than a million coins.

So, I've found this around the internet today and can't seem to find out what the story is behind this hoard. Other than it's gigantic. Would really like to know the back story. Like for instance, who's coins were these?




"Stack's West 57th Street Collection" Hoard of More Than One Million American Coins


Quote:
IRVINE, Calif. (March 10, 2014) -- One of the greatest American coin hoards ever to be found has been acquired by Stack's Bowers Galleries.

The hoard, which contains over a million coins, ranges from bags of large copper cents and Capped Bust half dollars, to Morgan and other silver dollars. Other coins include Washington quarters, Franklin half dollars, bags of Flying Eagle and Indian Head cents, nearly 10,000 1909 V.D.B cents, and more. Most are in circulated grades, and will appeal to collectors seeking coins that are both historical and affordable. The market value is estimated to be well into eight figures, with initial estimates ranging from $15 to $20 million.

Designated as The Stack's West 57th Street Collection, the coins were obtained in New York City and around the country, then stashed away and never reviewed for key dates or attributed by varieties. Armed guards kept watch as the 30-ton hoard was unloaded from two large transport trucks and transferred into secured vaults. The sorting process has now just begun, and announcements of collection highlights will be made in the upcoming months as the hoard is examined.

"Going through samples from this collection has been amazing," said Lawrence R. Stack, a founder of Stack's Bowers Galleries. "Each of the thousands of groupings has remained sealed as originally closed by the owner. We expect to find many rare varieties and discoveries as the review process continues. I have never seen anything like it, and am unaware of any comparable hoard of copper, nickel and silver coins that has ever come to the numismatic market. This will have a profound effect on new collectors coming into the hobby, for the vast majority of the coins will be very affordable -- quite a change from the usual business of handling rarities."

"The collection will be an ongoing part of our auction program over the next few years," said Brian Kendrella, president of Stack's Bowers Galleries. "Coins will initially be offered in our Internet auctions beginning in April. Rarities, new discoveries, higher-value coins, and the like, will be included in regular auction programs, including our Official Auctions of the Whitman Coin and Collectibles Expos, our ANA World's Fair of Money Showcase and Rarities Night auctions, and other venues. There will certainly be something for everyone, and I expect the discovery will be exciting for all individuals involved in numismatics."

"After learning advanced news of this, I began thinking, perhaps it is time for a new edition of my American Coin Hoards and Treasures book," said Q. David Bowers, chairman emeritus of Stack's Bowers Galleries. "This hoard is one of the greatest finds since the book was published in the 1990s, and it's quite different from most others in that it contains tons of what used to be pocket change but is now, in every instance, a collectible."


http://www.coinweek.com/featured-ne...-collection/

http://www.stacksbowers.com/NewsMed...Hoard-U.aspx

http://news.coinupdate.com/stacks-w...-coins-3186/

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Pillar of the Community
United States
1304 Posts
 Posted 03/11/2014  7:43 pm  Show Profile Check Cruisinfusion's eBay Listings Bookmark this reply Add Cruisinfusion to your friends list Get a Link to this Reply
..... WOW! I've heard stories like this before. That's amazing.
PCGS 7070 Type Set: 22 of 86 coins
PCGS Morgan Date, Grade, and Mintmark Set: 7 of 96
Valued Member
United States
444 Posts
 Posted 03/11/2014  8:36 pm  Show Profile Bookmark this reply Add AlbumAccumulator to your friends list Get a Link to this Reply
Interesting. A million new coins are about to come on the market.
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 Posted 03/11/2014  9:25 pm  Show Profile Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
Astounding that two major hoards have come to light this year and it's only March.

It will be interesting to see which varieties become common as this is dispersed.

-MV
I'm slowly building my numismatic library--68 works and counting

With assistance, trying to compile a listing of numismatic reference books & materials available to collectors http://www.coincommunity.com/forum/...IC_ID=174749
Pillar of the Community
United States
2425 Posts
 Posted 03/11/2014  9:58 pm  Show Profile Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply

Quote:
the coins were obtained in New York City and around the country, then stashed away and never reviewed for key dates or attributed by varieties


I wonder where they have been stored all these years and why they came out to the public now.

Also curious as the what the latest date coin in the stash is which would be an indication as to when the hoard was accumulated.
Valued Member
United States
275 Posts
 Posted 03/11/2014  10:44 pm  Show Profile Bookmark this reply Add Spud to your friends list Get a Link to this Reply
Also gotta wonder what it will do to the market in general? Price drops? Sounds like we will all have a chance at that one coin we all are looking for, no mater what it is. With that amount of coins! Looked like they were stored in bags! Hope they give more info soon! Inquiring minds want to know!
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653 Posts
 Posted 03/12/2014  07:03 am  Show Profile Bookmark this reply Add thq to your friends list Get a Link to this Reply
Interesting. I just watched the film Fingers, which was filmed mostly on 57th Street. There are plenty of dives and warehouses where you could squirrel away 30 tons of coins. Keeping them from being stolen is another matter.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Bedrock of the Community
United States
11494 Posts
 Posted 03/12/2014  07:10 am  Show Profile Bookmark this reply Add John1 to your friends list Get a Link to this Reply
Neat story.Kinda sounds like the owner lived at West 57th street in New York.How do you store 30 tons of coins in your house without it falling through the floor?
John1
( I'm no pro, it's just my humble opinion )
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1123 Posts
 Posted 03/12/2014  07:14 am  Show Profile Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply

Quote:
...for the vast majority of the coins will be very affordable -- quite a change from the usual business of handling rarities."



ooops.
Pillar of the Community
United States
2757 Posts
 Posted 03/12/2014  07:30 am  Show Profile Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply
This just goes to show how much of what the "experts" cite for survival rates and other factors that drive market is actually pure guess work. It's not even an educated guess really, how could it be? No one really knows what is out there and where it's all hidden. 10,000 V.D.B pennies? So if they're all in circulated grades like VF, does that drive the premiums of the higher grade ones that much higher?
"A wise man speaks because he has something to say; a fool speaks because he has to say something"

Pillar of the Community
United States
1123 Posts
 Posted 03/12/2014  07:35 am  Show Profile Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply

Quote:
...to Morgan and other silver dollars.



Let there be CCs

Let there be CCs

Let there be CCs .......
Pillar of the Community
United States
1673 Posts
 Posted 03/12/2014  07:56 am  Show Profile Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply

Quote:
Designated as The Stack's West 57th Street Collection, the coins were obtained in New York City and around the country, then stashed away and never reviewed for key dates or attributed by varieties.


If they were stashed away in different parts of the country would they be hoard(s) plural? After the Saddle Ridge story has garnered so much press I wouldn't be surprised if the word "Hoard" isn't utilized a more often in gimmicky magazine type promotions. Perhaps we are seeing this now. How do we know that this stuff isn't stale product gathered from various dealers back storerooms on the cheap and then heavily promoted to make a quick buck?
Pillar of the Community
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1123 Posts
 Posted 03/12/2014  08:07 am  Show Profile Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply

Quote:
If they were stashed away in different parts of the country would they be hoard(s) plural? After the Saddle Ridge story has garnered so much press I wouldn't be surprised if the word "Hoard" isn't utilized a more often in gimmicky magazine type promotions. Perhaps we are seeing this now. How do we know that this stuff isn't stale product gathered from various dealers back storerooms on the cheap and then heavily promoted to make a quick buck?


10,000 1909 DVBs ?

But who knows ... your guess is as good as anyone's
Valued Member
United States
303 Posts
 Posted 03/12/2014  08:09 am  Show Profile Bookmark this reply Add pawpaw34 to your friends list Get a Link to this Reply

Quote:
How do we know that this stuff isn't stale product gathered from various dealers back storerooms on the cheap and then heavily promoted to make a quick buck?


Most definetly a possibility.
Pillar of the Community
United States
880 Posts
 Posted 03/12/2014  09:12 am  Show Profile Check jerseyben's eBay Listings Bookmark this reply Add jerseyben to your friends list Get a Link to this Reply
Stories like these are a great reminder (to me anyway) why I don't collect common coins. Once these get released, 1909 VDBs will be just like any other common wheatie. If I were Stacks, I wouldnt be advertising these numbers, should really hurt values/sales.
Bedrock of the Community
United States
11494 Posts
 Posted 03/12/2014  09:15 am  Show Profile Bookmark this reply Add John1 to your friends list Get a Link to this Reply

Quote:
So if they're all in circulated grades like VF, does that drive the premiums of the higher grade ones that much higher?
Should not affect the high grade coins at all. The VF grade coins might go down a bit though.
John1
( I'm no pro, it's just my humble opinion )
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