| Author |
 Replies: 27 / Views: 4,165 |
|
|
|
Forum Dad
 United States
24161 Posts |
Could be possible over several months too. Susan and I walked a show once with a former member here that had a quarter million dollar credit line with his bank tied to his checking account. Meaning he could write checks and if it was over what was in his account, it would just roll over to his credit line and the check would be paid. We watched him write almost 150K worth of checks to buy coins that he knew he could flip in a week. Made 10K profit in 10 days and no interest. He did this almost every major show.
|
|
Pillar of the Community
United States
809 Posts |
$12,090 for a cent!! Thats just crazy! I still need that one though for my collection.  |
|
Valued Member
United States
450 Posts |
Seems like the buyer of this 1909sVDB has bought from the same seller in Nov-22-10 11:45 Always easy to work with, A++++++++++ Seller:Member id erickrichardson Here is the buyers buy history feedback is second to last post http://feedback.ebay.com/ws/eBayISA...=AllFeedback |
|
Pillar of the Community
United States
1283 Posts |
Man, some beautiful 09-S-VDB's! I'm dying to know the story behind his goldmine inventory, especially if it's real.
If only I could win a mega powerball.
Incidentally my sister is the Sr. Accounting Manager for a billionaire. Not for his company... for HIM! He has an accounting department just for his personal finances. As it turns out she tells me he collects ancient coins. I would kill to see his collection, although I know nothing about ancients. I asked her if I could meet him and talk coins with him, but apparently he keeps it strictly professional between himself and his staff.
|
|
Bedrock of the Community
United States
19951 Posts |
|
|
Pillar of the Community
United States
4989 Posts |
Mintage was 484,000 and most were hoarded immediately as collector coins. Hence, there are very large numbers of this coin floating around in MS condition. For a seller willing to pay top dollar, many hundreds could easily be accumulated.
EDIT: Assuming an average price of $1680, a roll in MS would cost about $84,000. Not beyond the means of your typical American middle class family; might mean a second mortgage, maxing out a credit card or two, etc... but it is not Bill Gates money.
Edited by fenton
01/14/2011 01:06 am
|
|
Pillar of the Community
United States
3294 Posts |
A roll of 1856 flying eagles would be Bill Gates $
|
|
Pillar of the Community
United States
4989 Posts |
I think the 1955 double die is another one where there are at least tend of thousands of them out there yet, due to the demand, they command a high price. Most are also in high grade since they were horded when the error was first discovered.
It wouldn't surprise me if a few investors are parked on whole safes full of 1909-S VDB's and 1955 DD's with an intent to "trickle them out" to hobbyists over time with ever-escalating prices. Similar to how a few investors can corner the market on silver by hording mass quantities of the physical metal.
If the flood gates ever really opened on those issues, prices could drop sharply as supply catches up to and exceeds demand.
|
|
Moderator
United States
188549 Posts |
Quote:
...a roll in MS would cost about $84,000. Not beyond the means of your typical American middle class family... It is beyond your means if you are in a responsible American middle class family. But you did say typical...  However, one has to view this from a business standpoint. I think $84,000 is well under a typical small business line of credit. |
|
Valued Member
United States
439 Posts |
12k for a penny. I found a silver dime the other day and was happpy. I am going to throw it away now.
|
|
Valued Member
United States
476 Posts |
If I recall, they have discussed these auctions over on the PCGS boards. The coins are legit a board member there knew the guy and he had a couple rolls of these graded and is indeed trickling them into the market.
|
|
Valued Member
United States
183 Posts |
seems there is money to be made in being able to distinguish the very fine differences in grades if a guy can go to a coin show to buy and flip for that much. nice pennies...
|
| |
Replies: 27 / Views: 4,165 |
First Page
Posted 01/10/2011 12:38 pm
