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 Replies: 39 / Views: 5,011 |
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Valued Member
Finland
294 Posts |
I think in the treasure hunting they must think big and get the big money out of one case as fast as possible. Searching key dates would take a lot of time and prices would immediately go down if a lot of coins are flooding to market. That happened in the 1990's when the central bank of Norway sold off their hoard of Finnish gold coins.
Edited by Eurocoin
04/18/2015 04:07 am
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Bedrock of the Community
 United States
12841 Posts |
In fairness, those salvage operations aren't free.
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Pillar of the Community
United States
7390 Posts |
@pacificoin... the pitman act, imo, was one of the best things that could have happened in numismatics for it created today's marketplace and elevated morgans to the ethereal status they now enjoy amongst collectors. Without it we would be trading them like ASE's With this rupee find however I think it would have been awesome to be able to buy an huge bag of shipwreck silver coins, concretions and all, and play with it. |
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Moderator
  United States
23522 Posts |
Quote:
The Pittman act did more damage to the numismatic community by far. So killing someone who's small is somehow "better" than killing someone who's big? Are you also OK with the people we're discussing in another thread who are sinking computer chips into 300 year old coins and selling them on ebay? Yes, these were minted in huge quantity - the lost coins were from an era which saw close to 3 billion minted in 30 years - but that's not stopping our Lincoln Cent collectors from prizing their work. At what point is numismatic history no longer worth preserving? There were a whole bunch minted with Victoria's effigy, as well. OK to destroy them? How about British Trade dollars? They minted lots of those too. Quote:
In fairness, those salvage operations aren't free.
Absolutely true, and they deserve to profit from their efforts. Would you rather take melt value, or retail even if that retail only multiplied your gross by a factor of ten? |
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Pillar of the Community
United States
1949 Posts |
I think the British Govt. could have marketed this well, made much more money numismatically, and if marketed the right way, could have boosted interest in coins in general...
Unfortunately, nothing that can be done now...
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Moderator
United States
23522 Posts |
That, more than anything else, is my objection, jdmern. Even if they only got $5 each, or even sold them in batches, they left a ton of profit on the table.
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Pillar of the Community
United States
1949 Posts |
So much opportunity left on the table... I could see the 'Shipwreck Salvage Submarine Sunken Treasure' advertisements... Say what you want about the marketing aspect, I could not even tell you how many people who know nothing else about coins, know about the Saddle Ridge hoard and I personally know a couple of people who never bought a coin before who did just because of that... It may be all hype, but stuff like this what gets people interested in numismatics, perhaps 1 in 100 will go further with coins, but I am CERTAIN those coins would be absorbed easily into the market...
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Moderator
United States
23522 Posts |
Look at the prices being fetched by near-unrecognizable Atocha wreck coins. Yes, that's a different cat entirely, but there's a cachet which some collectors recognize to coins with that sort of provenance.
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Pillar of the Community
Canada
5395 Posts |
Trout he is easy to find IAPN member runs adds in World Coin News and is at most major shows. He will sell you a hundred lot of real ch AU to Unc pieces for 22 bucks plus postage each. I doubt a single person on here is too interested in that deal.A couple of years ago when he helped Baldwins sell off the Indian stuff , sure the Gems and Proofs got stupid money . The stuff found in the bottom of the ocean"..........sorry just like the treasures of all the other countries pre decimal Aussie pre 46 English ,pre 65 U.S. Pre 68 Canadian take the profit and run Forrest run! There are far more coins available than money and the UK did right they torched it.
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Moderator
United States
188952 Posts |
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So killing someone who's small is somehow "better" than killing someone who's big? Good point.  It is similar to the argument against eliminating the cent because it will only save 100 million dollars in a wasteland of trillions.  |
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Pillar of the Community
Australia
2180 Posts |
British Indian rupees don't grow on trees...
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Moderator
United States
23522 Posts |
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British Indian rupees don't grow on trees...
Actually, they do, and that is where Pacificoin's argument has strength. There are bazillions of them. I just disagree that there is zero additional value in offering them as something with provenance as opposed to lumps of silver. And the fact that history in great quantity is still history, and we are guardians of history, not destroyers of it. |
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Moderator
United States
188952 Posts |
 Even if the two options are even, we should always go with the one that preserves history. |
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Pillar of the Community
Australia
2180 Posts |
Quote:
Actually, they do, and that is where Pacificoin's argument has strength. There are bazillions of them. I agree there are bazillions of the things, but I guess the point I was making is that they aren't making any more of them and that melting them down just because are currently bazillions of them is a bit short-sighted. |
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Moderator
United States
188952 Posts |
True. The total mintage is still a finite number and each one melted reducres it. While it may take a while, that number could reach zero in a finite amount of time.
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Posted 04/18/2015 04:12 am
