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Pillar of the Community
 United States
4594 Posts |
They just added a new top $ ... $2.75M for the top 14 coins PLUS the can.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
1817 Posts |
The highlight of the Saddle Ridge display at the Old Mint yesterday:  |
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Pillar of the Community
United States
7375 Posts |
Oh, I love the story......just not payin' for it  Any guesses on how long before the first one shows up on ebay? |
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Pillar of the Community
United States
593 Posts |
Do the people that found these coins get anything from the sale or will they lose out for telling someone?
It seems if you find a valuable find, someone will find a way to stick their paws into claiming it was theirs because the ship was from that country or was stolen or some excuse.
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Pillar of the Community
United States
4594 Posts |
They were very, very smart. Retained a Lawyer who hooked up with one of the oldest and smartest in the business. They've provided enough information to quash every claim that has shown up, helped my the fact that nobody knows WHERE. So the "my gran pappy done buried 'em and fergot to tell us where" claim doesn't survive long. The US Mint has publicly said they were not stolen (there was a theft, the $ are close, but the thief had access only to a specific vault and would have only gotten coins from 1903 and 1904). etc. The IRS will get their cut. The TPG, Kagan's and Amazon will get their fees. But the bulk of the $ will go to the finders. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Valued Member
United States
467 Posts |
I looked them over on Amazon. They don't seem to be all that nice overall. Definitely overpriced too from what I can tell - I pass.... On the flip side I wish the owners luck with their sales and auctions - what an awesome find and one that the rest of us can only envy! |
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Pillar of the Community
United States
7375 Posts |
Does the original can in the 2.75 million deal come in a slab too? Edited by edweather
05/29/2014 1:42 pm
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Bedrock of the Community
United States
17884 Posts |
Quote:
Do the people that found these coins get anything from the sale or will they lose out for telling someone?
After the IRS, state taxes, and all the other fees they will wind up with about half of the proceeds. Edited by Conder101
05/29/2014 2:32 pm
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Pillar of the Community
United States
1750 Posts |
I'd rather have a shipwreck double eagle. Just my humble 2 cents.
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Valued Member
United States
113 Posts |
OK, I've got to put my 2 cents in. Yes, the problem and lower grade circulated coins were way overpriced. There is a 'story' here too, who wouldn't dream of find something like this while metal detecting or walking along a beach? The one positive side of this is that a lot of non-collectors got interested in the happenings, and if that draws some new blood to the hobby in some way, then great! Lastly, to anyone that thought these coins were mostly dogs (and a lot were), what do you think of this 1889-S in MS-63?   More to come... |
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Pillar of the Community
United States
1531 Posts |
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Valued Member
 United States
70 Posts |
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Pillar of the Community
United States
6370 Posts |
483 left...  |
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Pillar of the Community
United States
1757 Posts |
I'll let someone else drive the new car off the lot. At some point the hype will die down and they will be available at more realistic prices.
Yep ...
and I don't even collect this hyped up Federal crap ... but $11M at Newman for the Colonials with NJ Collectors walking out with beat up Connecticuts ... whatver ... they will all sell ... As QDB once said and its my favorite line to explain the un-explainable ... the average collector spends 20 minutes/weeek in the hobby ... <VVBG>. Always a problem with simple-minded accumulators ... more so than seasoned collectors ... the NEED TO BELONG ... show-off ... lack of direction ...
JPL
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Pillar of the Community
United States
4337 Posts |
Quote:
At some point the hype will die down and they will be available at more realistic prices. Price fluctuations in the future value of these coins will have nothing to do with the "hype" dying down. Where I completely agree, its ALL HYPE, neatness/coolness of the story aside, I believe any purchase of these coins for their added "Saddle Ridge Premium", is not a good cost move. Old Gold will hold its own due to market/collector supply and demand and essentially a purchase of these coins is analogous to buying a numbered item of 1,500 that exist as that is the capacity of the overall hoard. What is "premium" anytime you make a buy like that? In art it depends on the artist. A Picasso is worth tenfold that of a numbered and "limited edition" Kinkade that is 1 of 1,500 made. The parallel here in what I would like to refer to as , and maybe I am disillusioning myself, "true collecting Numismatics", is that we should place value on scarcity and rarity of year/issue, not who held the coin at what point in time in their collection or where/how it was found. Anytime I see someone paying a 20% premium on a Col. Greene or Newman Label for a common dated coin I wonder if that money was not better spent on a scarcer dated coin of the same issue. I believe there are more of "me" that could care less about the who's and wheres but more about the scarcity and rarity that stems from the minting process. All of this of course IM-VERY-HO **edited for grammatical corrections** Edited by dsfreeworld
06/04/2014 12:07 pm
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Posted 05/29/2014 12:06 am
