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Who Is Hoarding All The1858 Large Cents?

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Valued Member
Canada
169 Posts
 Posted 05/09/2022  8:41 pm Show Profile   Bookmark this topic Add CanadaPennies19 to your friends list Get a Link to this Message
I stepped away from the hobby for a dozen months or so, I am back and I am amazed to see how little 1858 large cents are laying around. Colonial Acres has 1 available, cdncoin.com has none, eBay has like 30 available.

This never used to be the case, even a year or so ago, there were at least 100+ on eBay and my local stores had dozens of them!
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Canada
4409 Posts
 Posted 05/10/2022  07:22 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Well, I have 5-6 so I don't worry. I think that when Rob Turner wrote the 2 books on the '58 large cent provincial coinage, people started collecting them, especially the scarcer varieties in the year. Once the books ID'd specifically what the varieties were and the approximate percentage minted of that described die pair, then more coins were sucked up. I mean that before the books, who knew about full vines and 15 of 16 stems or doublings? You should try to pick up at least the first book and you'll look at '58's in a new light.
Valued Member
United States
128 Posts
 Posted 05/10/2022  11:34 am  Show Profile   Bookmark this reply Add Mrhakfbacon to your friends list Get a Link to this Reply
I think some people are trying to get rolls of them to get a premium but I'm not sure.
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Canada
4409 Posts
 Posted 05/10/2022  12:09 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
6-7 years ago I heard of a guy who had almost a full roll of '58's and let them go at auction. I don't know if it was 1-2 at a time or the whole bootie. I agree that you don't see them around like there used to be.
Edited by okiecoiner
05/11/2022 06:56 am
Pillar of the Community
United States
1095 Posts
 Posted 05/10/2022  8:53 pm  Show Profile   Bookmark this reply Add bosox to your friends list Get a Link to this Reply
When I published the study in 2007, I thought the prices on 1858 cents would drop, since the mintage was significantly more than previously thought. The opposite happened, for the reasons Okie said.

I still have the study coins and quite a few more, but I have bought very few over the past four or five years.
http://www.victoriancent.com

2011 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner
New Member
Canada
26 Posts
 Posted 05/13/2022  09:57 am  Show Profile   Bookmark this reply Add Beaver22 to your friends list Get a Link to this Reply
@bosox the original mintage doesn't really affect how many are left. The rarity is a key factor.
I'm not the one hoarding the 1858 cents.
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Canada
4409 Posts
 Posted 05/13/2022  12:13 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Yes, the original mintage DOES affect how many are left. The published mintage was 421,000, but people who carefully collect the Colonial early Vickies, feel that the mintage was probably double that or a little more. He had that in his book(s) so that's the reason that he posted above that he thought that prices and hoarding would go DOWN, not up. The '58's were the first Canadian coinages and some were hoarded from day one, but Canada was hurting for ANY kind of coinage to use in pay and trade. Before that, US, British, French, Spanish had to be used and banks and vendors had to mint their own cents and half-cents just to be able to function. For way over 100 years, collectors saved, put away or collected the 1858's, knowing that only 400K coins were minted and were rare or scarce. When the Mint went ahead and minted 10 million 1859's, then more '58's were put away since vendors were awash in all kinds of coinages. Initial mintage have a great deal to do with value and collectability, especially if there are 100's of books telling everyone how scarce they are. I feel the same way that bosox does in that the 1859/8's probably had fewer minted than the 1858's. It's what's been written doownin papers and books that usually dictate value, as well as collectability of the coin.
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Canada
8858 Posts
 Posted 05/13/2022  12:44 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
Could it be that the current popularity and high demand for '59s has greatly reduced the demand for '58s.
"Dipping" is not considered cleaning...
-from PCGS website
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Canada
1909 Posts
 Posted 05/16/2022  7:39 pm  Show Profile   Check gidjit's eBay Listings Bookmark this reply Add gidjit to your friends list Get a Link to this Reply
i have a few,
here is a post of the first roll I put together, still working on my second roll (im not far away)
http://goccf.com/t/257242&SearchTerms=1858,roll
please check out my collection of large cents from 1858 - 1920 (click link below, you DO NOT need a facebook account to view)
https://www.facebook.com/media/set/...l=4b87156114
also you can see my collection of 1859 die pairs here
https://www.facebook.com/media/set/...47995&type=3
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New Zealand
1626 Posts
 Posted 05/16/2022  9:57 pm  Show Profile   Bookmark this reply Add fourmack to your friends list Get a Link to this Reply
Very impressive gidjit.
I have only 4 and lucky to have these down here.
Cheers Don

Vickies cents and GB Farthings nut.
"Old" is a figure of speech and nothing more
Valued Member
United States
441 Posts
 Posted 05/16/2022  10:08 pm  Show Profile   Check 1960NYGiants's eBay Listings Bookmark this reply Add 1960NYGiants to your friends list Get a Link to this Reply
I've got 22, all different Turner die pairs.
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United States
1095 Posts
 Posted 05/16/2022  10:51 pm  Show Profile   Bookmark this reply Add bosox to your friends list Get a Link to this Reply
My original 2007 study sample, plus others bought since then, is something north of 200 pieces. Some common die pairs, some not.
http://www.victoriancent.com

2011 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner
Edited by bosox
05/16/2022 10:55 pm
Pillar of the Community
United States
1095 Posts
 Posted 05/16/2022  11:04 pm  Show Profile   Bookmark this reply Add bosox to your friends list Get a Link to this Reply
The real sleepers are the 1859 W9/8 cents. Although not a date unto themselves, but rather an overdate, their mintage is considerably less than the 1858 cents.
http://www.victoriancent.com

2011 Fred Bowman Award Winner, 2020 J. Douglas Ferguson Award Winner, & 2022 Paul Fiocca Award Winner
Pillar of the Community
Canada
3308 Posts
 Posted 05/17/2022  12:10 am  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
There was recently a well known large cent collector selling tonz of 1959 large cents on the Facebook group I'm in, I saw a few w9/8 in the mix I believe, I think they all went for well under there value though, I haven't purchased a coin in a while now, life's been busy. Unfortunately my large cent collection has been on hold for months and months now, I'll have to get at least a few 59 but as for the 58 they are generally out if my price range when they come up.
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Canada
8858 Posts
 Posted 05/17/2022  01:13 am  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply

Quote:
I'll have to get at least a few 59 but as for the 58 they are generally out if my price range when they come up.

Kinda supports what I said earlier, I know a couple of collectors in much the same position, the popularity of '59 varieties is reducing demand for'58s.
"Dipping" is not considered cleaning...
-from PCGS website
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Australia
19868 Posts
 Posted 05/17/2022  04:40 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I do not believe that the collector hoarding patten has not changed significantly in recent years.
More possible in my mind is there has been more study interest in them in recent years, and this results in increased average value, and the collectors that have them have tended to keep them.
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