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 Replies: 27 / Views: 5,126 |
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Pillar of the Community
United States
4416 Posts |
Stack's announces the acquisition of a massive unsearched hoard: http://news.coinupdate.com/stacks-w...-coins-3186/It appears that the former owner was more of an accumulator than a collector, but more insight will come to pass as the bags are searched and sorted. This would be a coin collector's dream ... heaven!  |
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Bedrock of the Community
United States
10045 Posts |
Wow!  It will take some time to sort through all that. |
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Bedrock of the Community
13014 Posts |
Hopefully there's some stuff in there I need. I wonder how much was direct from the mint uncirculated. Top pop values could be drastically altered by this
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Pillar of the Community
Canada
785 Posts |
Basebal21,
From the sounds of it a VERY large percentage of the coins are going to be circulated. There are a million coins worth 15-20 million dollars. That's only $15-20 a coin witch sounds like a bunch of scrap silver with an occasional rarity.
They have already stated that they have found 10,000 1909VDB cents, I wonder how many other key dates are waiting to be found in there?
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Pillar of the Community
United States
3540 Posts |
ANY possibility this hoard might drive the price of circulated coin prices DOWN?
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Bedrock of the Community
13014 Posts |
Nathan that was my thinking for most of them too. With that many coins though I doubt they've been through a lot of it yet. There's bound to be a few gems or a bunch of key dates in there yet to be seen, you'd think so anyway. It would only take a couple to rock a market at the upper end for a lot of those. It's be good in driving interest and getting people excited, bad in the sense I'm sure some people would be very unhappy with the value loss.
I wouldn't be shocked if when it was said and done a couple key dates or semi keys were so rare anymore. At the very least some circulated prices will likely suffer with that kind of influx.
I do think its fortunate though that most is circulated. A find that large of high grade stuff would have destroyed many markets ultimately driving some people away who got burnt badly from it.
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Pillar of the Community
United States
7621 Posts |
As with marketing any commodity "it's all in the packaging and presentation".
I bet PCGS is chomping at the bit to get their hands on this stuff so it can preserved forever.
Just what we need.... 5$ 1909-VDB cents in 2$ plastic being sold for 23.95$ on late nite TV coin infomercials.
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Pillar of the Community
Canada
726 Posts |
oh wow.....I think a lot of somethings gotta move......Are those red boxes canadian proof sets or USA has a red like that as well? Canadian circ coins might be okay, but US circ, especially lower grades wow......
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Valued Member
United States
498 Posts |
I'll bet it's my old boss. Goldstar estate buyers. For 20 years he traveled the country putting 3 full page ads. Most of you have seen them. When I worked for him in 2012 I bought about $1,000,000 worth of coins in 12 months and he had 35 coin buyers. Now a lot was bullion but he never sold his type coins. His silver dollar collection consists of 1,000,000 pieces. He owns 5% of the worlds wheat pennies. We used to get pulled in to the main site to sort coins. I hated this I would sit and put mercs in tubes for 8 hours while my friends are buying collections. The best experience a coin collector could have. In Aug 2011 my brother saw an add in the hotel where he sold some coins. I called 2 hours later I was sorting small diamonds from garbage. Iin that 3 weeks he spent $10,000,000. I was a duel buyer. I hated being away from my wife but needed the work. I personally saw more rare coins in 12 months than guys 30 years in the business. When I worked we would do 15 hotels at one time he is about 66 and worth a billion dollars so I guess he decided to sell. Don't get me wrong he has been selling some stuff to Littleton and the Coin vault for years. Thats where the coin vault would get all those proof sets. 70's 80's and 90's. We paid $3.00 and he sold to them for $5.00.
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Valued Member
United States
116 Posts |
Just thinking here but how nice would it be to inherit a hoard like that but then I'd want to keep them which would create another problem. You'd never have the time to go through them all without a lot of help.
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Pillar of the Community
Australia
1041 Posts |
down down prices are down
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Valued Member
United States
217 Posts |
Quote:
I bet PCGS is chomping at the bit to get their hands on this stuff so it can preserved forever. Except that this has been acquired by Stacks, and they said that they are planning on putting it up on their auctions. So I would bet that very little of this is going to end up in a slab. |
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Pillar of the Community
United States
8517 Posts |
Quote:
Wow! It will take some time to sort through all that. I'll take a few five gallon buckets worth and go through them for free. Oregon coin geek.....*** GO BEAVS ! ! ! ***
Edited by 52Raymo
03/18/2014 11:38 am
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Bedrock of the Community
United States
17884 Posts |
Quote:
ANY possibility this hoard might drive the price of circulated coin prices DOWN? Not really. A million circulated coins is a drop in the bucket in the marketplace. And I seriously doubt there will be a lot of key or semi-key pieces in the group,and those that are will probably be well circulated. I bet a bunch of this stuff is little better than bulk silver. |
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Pillar of the Community
United States
7621 Posts |
A PCGS holder labeled ""Stack's 57th Street Hoard" will add "value" to a circulated 1909-VDB cent as long as it stays in the holder.
Trust me, these things WILL eventually show up on late night TV so have your credit card ready!
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Pillar of the Community
United States
3453 Posts |
 I wonder if they will sell the bags as well? |
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Replies: 27 / Views: 5,126 |
Posted 03/16/2014 11:05 pm
