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 Replies: 11 / Views: 1,547 |
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Valued Member
United States
153 Posts |
As many of you may know, I attended Stack's auction of the Cardinal Collection in January of this year. It was a coin enthusiast's greatest thrill to see a 1794 dollar go for over 10 million bucks right in front of your eyes. This was, of course, a world record coin that is out of reach for most of us. In order for a coin collector to not be interested in the 1794 dollar they must truly have their head in the sand! I was just looking through the Heritage Auction Archives, when I came across a 1794 with AU Details that might be for sale under 100K. In my opinion, that would be a very good price for this price considering that other examples that look like they have been run over by a truck have sold for well over 100K, and problem free XF's 200-300. Very tempting, only problem is that I'm about 100K short. I was thinking though, that if everybody contributed $500-1000 or more from coin community we could buy it together, and each share ownership of the piece.   |
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Bedrock of the Community
United States
36684 Posts |
If we contribute, who gets to hold the coin? Let me guess.....
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Bedrock of the Community
 United States
18649 Posts |
 ...everyone gets it for one week, then we put it up for sale and split the profit! |
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Valued Member
 United States
153 Posts |
Instead of just one of us bearing that responsibility, I suggest we would display it at some venue where coins are being displayed, such as the CT State Library in Hartford. Before selling it for a profit, perhaps in a deal rather than at auction, we can send it to PCGS and get it pedigreed the "Coincommunity.com Specimen." I would request a 5% cut for putting it together, and 5% to coincommunity.com, especially if there is significant profit made.
Edited by coins4fun
06/16/2013 5:15 pm
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Valued Member
United States
153 Posts |
I can pledge $3,000 out of 100K... so we're already 3% there!
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Bedrock of the Community
United States
18649 Posts |
Everyone can own a percentage based on the current price and how much they put in. I'm in for $1500
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Bedrock of the Community
United States
10982 Posts |
Quote:
It was a coin enthusiast's greatest thrill to see a 1794 dollar go for over 10 million bucks right in front of your eyes. This was, of course, a world record coin that is out of reach for most of us. This qualifies for the CCF "Understatement of the Year Award"!  |
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Pillar of the Community
Canada
3167 Posts |
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Valued Member
United States
153 Posts |
Excellent, I like your attitude and I think that this could really work and is a novel idea to share ownership of rare high value pieces that would otherwise be just a pipe dream. So we are 4.5% there already on paper! ($4,500 raised of $100,000 projected.) Of course, we would need permission of CCF to go through with it, and as implied earlier, would give them a small percentage. I am setting up a website where if we can get enough support, I can start accepting serious investors. Any other people interested in joining in?
Edited by coins4fun
06/16/2013 11:02 pm
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Bedrock of the Community
United States
17884 Posts |
Not that novel. Many of the major rarities have been co-owned by a partnership of two or more people (When Leon Hedrickson owned the Dexter specimen of the 1804 dollar he owned it in partnership with another dealer. About a year before he sold it, and almost became the seller of the first million dollar coin, he became sole owner when he took his partners share in settlement of a debt.)and I've known of many partnership ownerships of lesser rarities. There were also the Wall Street coin funds in the late 80's where the fund investors were co-owners of the coins involved.
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Pillar of the Community
United States
2362 Posts |
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I suggest we would display it at some venue where coins are being displayed, such as the CT State Library in Hartford. I live in CT and considering the financial condition of this State they would sell it and keep the money.  Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith |
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Bedrock of the Community
United States
18649 Posts |
Good one cipster. I think we need a safer location.
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Replies: 11 / Views: 1,547 |
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Posted 06/16/2013 4:46 pm
