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 Replies: 2,778 / Views: 300,545 |
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Pillar of the Community
Canada
867 Posts |
thanks for posting the article. I find it curious that there is bitterness about the release....the mintage numbers never changed, and it's probably more a function of bullion prices falling that the market (prices) for these coins has supposedly suffered.
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Pillar of the Community
Canada
1571 Posts |
I am thinking that since the remaining coins have yet to be melted, there will be some other RCM cash in. I foresee these coins being melted and new coins being made and marketed as recovered 1912-1914 golds. Perhaps they will be of the same design but with a new date and the queen instead of King George V? Or perhaps a completely new design? Perhaps they will just sit in some other vault another 100 years, who knows? |
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Pillar of the Community
Canada
2984 Posts |
According to the article, people who had the non-hoard gold coins feared the value of their coins would be diluted.
I agree with tripoli that the value of their gold coins went down with the drop in gold prices rather than more coins entering the market. I believe the quality of the non-hoard coins is not as high as the hoard coins and would have gone for bullion value anyway. Most people who bought the newly released coins found them above MS-60. Some as high as MS-62, MS-63, and MS-64.
Edited by MoneyPenney
12/31/2013 01:51 am
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Pillar of the Community
Canada
2124 Posts |
Redzapsid: All of your options are possible less the last one.
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Valued Member
Canada
430 Posts |
@tripoli, delete your temporary cookies, and you can see more articles on the Globe website.
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Valued Member
Canada
430 Posts |
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Pillar of the Community
Canada
6768 Posts |
Simple and nice story, thanks Coinsplus.
As it written (that could be not correct), it appears that both guys - the dealer and the collector covered their expenses by re-selling these coins. And that's OK, cause it not simple to afford such purchase...they just shouldn't mention about "reselling coins to co-workers".
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Pillar of the Community
Canada
867 Posts |
I think I have seen that set quoted in the story....the 1912 $10 was stunning, easily an ICCS MS65....or NGC/PCGS 80 (little joke there)....the rest of the coins were strong 63-64's.
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Pillar of the Community
Canada
5324 Posts |
Heritage Auctions just sold a PCGS graded premium hand select set of six coins for around 10500.00 US with the 1914 5 dollar coin at ms64, although a 5 dollar 1914 ms65 sold for around 11000.00 by itself, this was a really nice coin.
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Valued Member
Canada
480 Posts |
I can see why some collectors would have been a little upset with the release. Where the coins might not have been so readily available on the market before, they are now everywhere. ( kind of ) Although the mintage stayed the same no one really knows how much is out there and how much have been melted down or destroyed over the years. I myself was happy to get my hands on them. I'm putting mine away for another 100 years or so. Maybe I'll leave a note when I pass away  |
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Valued Member
Canada
430 Posts |
I was also reviewing the Heritage Auctions - prices went much more than I expected.
All prices listed US $ and includes buyer's premium.
Lot #
23254 - 1913 $5 NGC MS65 (NON-Hoard) - sold price $1,997.50
23255 - 1914 $10 NGC MS64 (BoC Hoard) - sold $1,292.50 (IMO overgraded)
23256 - 1914 $10 NGC MS64 (BoC Hoard) - sold $1,527.50
23257 - 1914 $10 NGC MS64 (BoC Hoard) - sold $1,292.50 (IMO overgraded)
23258 - 6 coins premium set (BoC Hoard) - $5 1912 PCGS MS64+, 1913 PCGS MS64, 1914 PCGS MS64 - $10 1912 $10 PCGS MS63, 1913 PCGS MS63+,
1914 PCGS MS63+ - sold $10,575. (Would have probably done better if they broke up the set and sold individually)
23259 - 1912 $5 PCGS MS65 (BoC Hoard) - $2,937.50 (IMO overgraded)
23260 - 1913 $5 PCGS MS65 (BoC Hoard) - $7,637.50
23261 - 1914 $5 PCGS MS65 (BoC Hoard) - $10,575.
23262 - 1912 $10 PCGS MS65 (BoC Hoard) - $4,259.38
23263 - 1913 $10 PCGS MS65 (BoC Hoard) - $12,925.
23264 - 1914 $10 PCGS MS65+ (BoC Hoard) - $10,575.
Overall, the previous owner(s) really hit pay dirt on these coins on high graded coins. Not bad of an investment return.
Edited by Coinsplus
01/07/2014 01:58 am
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Valued Member
Canada
430 Posts |
@Tripoli, you have a great memory about that 1912 $10 coin in the premium coin set box! Too funny... PCGS80!
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Pillar of the Community
Canada
5324 Posts |
You take this auction with these gold coins only the ms 65 received good prices, take the so call best of the best, six coin set only graded ms 64 paid 13000.00 and grading fees, sold for 10575.00 us. As we know now a major Canadian dealer had early access to these coins, most of the coins received by the public seems to grade at best ms63. I don't think the person who bought this premium six coin set is too happy that other coins graded higher than his or her coins.
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Valued Member
Canada
196 Posts |
I would disagree with you john. I think that owner of premium coinset luck out being able to sell his premium set at that price. He is basically selling the box since his coins are not special. there is also no proof that the coins are actually from the set. he could have kept the graded box coin and sell a set oh hand select. I also purchased the premium 6 coin set and looking at my set of coins, they ate definitely better than thsose coins at auction. Regarding the hand select coins, there are really nice hand select coins out there. I dont think the dealers took all the coins above ms63.
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Pillar of the Community
Canada
5324 Posts |
My whole point is the way the RCM marketed these coin, the RCM advertise that the premium six coin set was the best of the best, if this set on Heritage they advertise it as a premium set as such it should grade in the ms 64 to ms65 but this set did not. If your set grades above this one congrats, having a nice conversation at recent Torex with this dealer, he did not use the advance preview of these coins just to look at them. Its the RCM unfairness everyone was limited to 1 coin yet he was allowed to purchase many. |
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Posted 12/31/2013 01:34 am
