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 Replies: 164 / Views: 33,398 |
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Valued Member
Canada
127 Posts |
From CCN: Century-old hoard surfaces in Winnipeg. Apparently "thousands of original Canadian Mint State coins particularly between 1880 and 1914".
Well, that will just about kill the coin market until the hoard hits the Legacy auction in February. In the investment business this is called an "overhang of supply". Until I know what is hitting the market, I will not buy anything.
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Valued Member
 Canada
127 Posts |
I might add that since this is a hoard, it may add significantly to the population of previously rare gem coins. Apparently the collection was unknown for past 70 years. I imagine if you had the only mint state 1887 quarter recorded and now ICCS population report adds five new MS quarters. Ouch.
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Forum Kid
Canada
1074 Posts |
ya who knows how many there actually be!
You may have heard something like this "too many coins and not enough collectors"!
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Pillar of the Community
 Canada
5391 Posts |
Be interesting to see what is in this hoard. Any links to a story? Who knows if it is really good stuff, could be a great boost to the Canadian coin hobby. If the hoard is tightly held and controlled by a few there will not be any fire sale anytime soon.
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Pillar of the Community
Canada
1505 Posts |
yeah, and my mother is the queen of china. IF it is true.. Probably instigated and illustrated by the RCM. simply to re-direct interest as they have really peeeed off real true collectors. |
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Valued Member
Australia
138 Posts |
Even here in Australia I have heard the rumours of a large hoard being found but all the talk has been light on details. Don't worry, this additional supply of MS Vickies and Edwards will have absolutely no effect on trend prices!  |
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Pillar of the Community
 United States
1949 Posts |
Very interesting, could potentially have a huge impact on the values
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Moderator
Canada
10456 Posts |
I tend to be more optimistic... It might draw more collectors into mint state coins. The hoard of 1914 5c in PCGS high grades has not overly affected the price to acquire one... It just means they are available to buy, as opposed to the "good luck trying to find one"...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2495 Posts |
Spp-Ott....try selling an MS 1914 5c back to a dealer.
That's when the light bulb should go off.
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Pillar of the Community
Canada
1505 Posts |
Eagle, a dealer needs a large margin. Most dealers try and buy raw so they can argue and lowball the grade.
same as a car dealer. buy a new car, drive it around the block and sell it back. minus 30%
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Pillar of the Community
Canada
2425 Posts |
Lets find out the volume available before we speculate.
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Valued Member
Canada
127 Posts |
Good discussion. All I know is that my Silver Dollar collection is safe, but my quarter collection is vulnerable. If there are some nice examples of Vickie quarters, I will be on the buy side. Maybe a once in a lifetime opportunity to buy Gem Vickies. I wonder how many 50 cents GEMs there will be?
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Pillar of the Community
Canada
3049 Posts |
Funny.. I live in Winnipeg and haven't heard of this... perhaps more details when I talk to a few people this weekend...
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Pillar of the Community
United States
1949 Posts |
Does anyone know what company will be handling the grading? Might be a good idea to keep an eye on the population reports...
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Valued Member
Canada
127 Posts |
jdmern - apparently ICCS has graded about 1,000 coins.
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Pillar of the Community
Canada
5391 Posts |
This starting to sound like a CNN news sound bite! Is there a LINK to a story or some real news out there on this? Or is it all just talk? If this is indeed true it changes the landscape on choice early Canadian for sure. That can only be for the betterment of the hobby In the long term. I agree with SPP on this, total optimism. Whenever a neat hoard is found , it DOES create excitement in the hobby. Look back at all the moaning and wailing over the Carson City dollar sales. Today we drool at the prices the US Treasury sold the stuff for. The Bank of Canada hoard created excitement and market action. The Canadian and Newfoundland stuff that came out of England years ago was properly dispersed and had little or no effect on the market. There are other little hoards that some of us dealers have acquired ( the 1913 Large Cents and 1914 5 cents acquired a few years back an example) and hold them tightly, so as not to hurt the market. More hoards will come out as the very old collectors die off and the families settle the estates. Just part of the Coin World! |
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Replies: 164 / Views: 33,398 |
Posted 11/18/2014 11:21 pm
