Quote:The hoard, which contains over a million coins, ranges from bags of large copper cents and
Capped Bust half dollars, to Morgan and other silver dollars. Other coins include
Washington quarters,
Franklin half dollars, bags of Flying Eagle and
Indian Head cents, nearly 10,000 1909 V.D.B cents, and more. Most are in circulated grades, and will appeal to collectors seeking coins that are both historical and affordable. The market value is estimated to be well into eight figures, with initial estimates ranging from $15 to $20 million.
Designated as The Stack's West 57th Street Collection, the coins were obtained in New York City and around the country, then stashed away and never reviewed for key dates or attributed by varieties. Armed guards kept watch as the 30-ton hoard was unloaded from two large transport trucks and transferred into secured vaults. The sorting process has now just begun, and announcements of collection highlights will be made in the upcoming months as the hoard is examined.
"Going through samples from this collection has been amazing," said Lawrence R. Stack, a founder of Stack's Bowers Galleries. "Each of the thousands of groupings has remained sealed as originally closed by the owner. We expect to find many rare varieties and discoveries as the review process continues. I have never seen anything like it, and am unaware of any comparable hoard of copper, nickel and silver coins that has ever come to the numismatic market. This will have a profound effect on new collectors coming into the hobby, for the vast majority of the coins will be very affordable — quite a change from the usual business of handling rarities."
"The collection will be an ongoing part of our auction program over the next few years," said Brian Kendrella, president of Stack's Bowers Galleries. "Coins will initially be offered in our Internet auctions beginning in April. Rarities, new discoveries, higher-value coins, and the like, will be included in regular auction programs, including our Official Auctions of the Whitman Coin and Collectibles Expos, our
ANA World's Fair of Money Showcase and Rarities Night auctions, and other venues. There will certainly be something for everyone, and I expect the discovery will be exciting for all individuals involved in numismatics."
"After learning advanced news of this, I began thinking, perhaps it is time for a new edition of my American Coin Hoards and Treasures book," said Q. David Bowers, a founder and chairman emeritus of Stack's Bowers Galleries. "This hoard is one of the greatest finds since the book was published in the 1990s, and it's quite different from most others in that it contains tons of what used to be pocket change but is now, in every instance, a collectible."
I had heard that Stack's cherrypicked for years out of this hoard of coins, and finally were able to purchase the entire lot of coins (30 tons). They got a sweetheart deal from NGC on the slabbing, to trade grading for marketing NGC and paid almost nothing for the slabs, (a few dollars per coin at most) making it a loss leader for NGC but they get their name on the million plus coins in the marketplace, as well as many coins going to mass marketers so they would be seen by many brand new non collecting eyeballs. I've bought a couple of the coins (
) that had interesting die cracks and broke them out of the slab. I don't believe there is any real value to having a provenance in this hoard of coin personally, at least not like some collections, (Eliasberg, Garrett, DL Hansen, Binnion, GSA, etc.).
From my understanding only certain coins (above a set pricing point) received any type of numerical grade attached to the holder. I don't know that value but I assume it's close to $80-100. There were some amazing coins to come out of the 57th Street Collection, quite a few
But many, many more coins like this one posted, just an average circulated coin with issues that really doesn't need to be slabbed, and wouldn't be if not for the luck of the draw and it ending up in a bag from this collection or hoard.
This original press release really shows off just some of the quantity of coins we are talking about, and it's only a small part of the coins. Note the tubs are USPS mail tubs (the file box sized ones). 30 tons, makes up a pile of coins!
Now that would be a collection to find out your deceased relative has left you.
Posted 06/02/2021 6:20 pm
very possibly ED
Now that would be a collection to find out your deceased relative has left you. 
