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Saddle Ridge Hoard At SF Old Mint Pics

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Bizybackson's Avatar
United States
1817 Posts
 Posted 05/29/2014  12:25 am Show Profile   Bookmark this topic Add Bizybackson to your friends list Get a Link to this Message Number of Subscribers
The infamous cans:
Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

The highlight of the display:
Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

The display of 60 coins:
Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

"MS53" and "MS58" ? Lol.
Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics

Saddle-Ridge-Hoard-At-SF-Old-Mint-Pics
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Cruisinfusion's Avatar
United States
1531 Posts
 Posted 05/29/2014  01:18 am  Show Profile   Bookmark this reply Add Cruisinfusion to your friends list Get a Link to this Reply
Gotta love the MS55... Lol.
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Cruisinfusion's Avatar
United States
1531 Posts
 Posted 05/29/2014  01:18 am  Show Profile   Bookmark this reply Add Cruisinfusion to your friends list Get a Link to this Reply
So is this a permanent exhibit? As in... Did the SF old mint buy the coins to be shown there?
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Bizybackson's Avatar
United States
1817 Posts
 Posted 05/29/2014  02:51 am  Show Profile   Bookmark this reply Add Bizybackson to your friends list Get a Link to this Reply
No, not a permanent exhibit at the Old Mint, these were some of the coins that were going on sale on Amazon late last night, so just a one night exhibition. The typesetter or labeler probably didn't work for Kagin's, his people would definitely know better that these were about uncirculated. But it was sloppy looking with all MS cards, however, the PCGS gold label was kind of cool. Had my eye on an $20 1888S 64, but not for 2x book at $16,000!
Edited by Bizybackson
05/29/2014 02:53 am
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westcoin's Avatar
United States
9792 Posts
 Posted 05/29/2014  05:56 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Well technically the coins are either Mint State or Proof, so calling one MS55 isn't entirely wrong, just not common in numismatics. All the numbers are just definitions of wear below 60 and definitions of contact marks above 60. When Dr. Sheldon came up with the grade numbering system we use today, it was designed for Large cents and based on a value. (And from what I understand only went to 70 due to Sheldon's affinity for the number 7). His original system was created in 1949 and published in his book "Early American Cents" page 29 begins with the condition of a coin and on page 30 he describes the terms to apply them to - being;
Fair
Good
Very Good
Fine
Very Fine
Extremely Fine
Uncirculated

(also note again 7 descriptions, following Sheldon's 7 theme). I find it interesting Sheldon leaves out AU but then refers to Almost Uncirculated coins or AU50 coins a few pages later.

The Saddle Ridge Hoard coins are amazing, and I thought I would get one myself, but at the prices they are selling for initially, I think not. They will come down to closer to market pricing soon enough, might take a year or two before the hype wears off, and it's just another label on a slab (I hope). The prices they are asking on them seem to be - really a bit much, like TV Coin pricing much!

Thanks for the photos of the hoard coins home at their birthplace.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector.

See my want page: http://goccf.com/t/140440
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Conder101's Avatar
United States
17884 Posts
 Posted 05/29/2014  2:14 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
Sheldon Pricing system, not grading system. Sheldon never defined or created a grading system. The grades shown were in common used at the time. All he did was apply numbers that represented the price ratios between the grades at the time compared to a coin in Poor-1. A Good was worth 4 times as much, a Fine was worth 12 times as much, an Unc or MS coin was worth 60 times as much and a perfect Unc coin was worth 70 times as much. And originally this only applied to 1794 cents and eventually to all the early date large cents.

The problem was as more collectors entered the field, and as collectors became more affluent, more demand pressure was applied to the higher grades the ratios no longer applied, and the numbers became meaninless.
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Tbone's Avatar
United States
1839 Posts
 Posted 05/29/2014  8:03 pm  Show Profile   Bookmark this reply Add Tbone to your friends list Get a Link to this Reply
If you haven't already seen it here's a nice video of the event.

http://www.coinweek.com/featured-ne...n-video-700/
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