What would it take for 10 coins to cross the $10M mark?
Zoins
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The 1794 Cardinal-TDN Flowing Hair dollar crossed the $10M level back in 2013. What would it take for the market to move a non-trivial number of coins past this level, say 10 coins?
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@tradedollarnut Bruce would have to lose a game of poker against me for that to happen.
Bezos and his ex wife deciding to attend a FUN auction.
Would they need to be bidding against each other? It takes 2 to tango in an auction.
It would simply take the right coins coming on the market.
Few seem to believe that a roaring bull market in coins could ever happen again. It certainly could, and all sorts of things would start to show up on the market.
If and when it happens, it could happen pretty quickly too.
Is there 10 coins that would qualify right now?
Any two decabillionaires could drive ten coins to the 8 figure threshold.
It would take a sale of the world's finest known set of corroded Lincoln Memorial Cent varieties and errors.
Yes, but are there 2 decabillionaires that are collecting, or contemplating collecting, coins? And if there were, would they go head-to-head against each other?
Coin dealers and auction houses dream that this would happen.
It would take a decent number of high end "art" collectors who routinely fork out 8-9 figures on avant-garde paintings or a metallic aluminum bunny to take a serious interest in numismatics.
A few years of high inflation.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
That assumes that coins keep up with the price of inflation. Coins often do not.
in my opinion it will happen but have no idea when. I think it could happen at any point with the availability of the right 10 coins or so coupled with the addition of a few more mega collectors in addition to those already out there.
Which 10 would be on this list?
What would it take for 10 coins to cross the $10M mark?
easy: $100,000,000
BHNC #203
Someone else to stand up and bid $10 Million on 10 coins when the under bidders are packing up to leave at 1/2 that amount
Honestly not having been born yesterday I always just considered it a publicity stunt, as not for a split second did I ever believe the hammer price was legit.
After nearly 44 years in this hobby some of the games played behind the scene would make for a few seasons of Sneaky Pete.
It will not happen in the lifetime of even the youngest great grandchild of the oldest forum member....Cheers, RickO
If the gold Saint Gaudens Judd-1776 pattern came to market it alone could probably sell for over $10 Million each time in 10 consecutive auctions.
Perhaps, but there are 2 catches there: it’s not coming to market and if it did, it likely wouldn’t come 10 times in our lifetimes.
The top tier rare coins have not changed in 50 years, only the availability of liquidity. The 1794 Morelan Dollar was once the $1000 Max Mehl dollar in the 1940's.
Had your grandfather not bought the damn post war Cadillac, he could have owned it!
The next 10 coins haven’t moved in 50 years?
We’ve seen a lot of coins move including the Morelan Dollar which was once the Carter Dollar which was sold in 1984 before it was the Cardinal Dollar which sold in 2013. Other coins include 1913 Liberty nickels, 1804 dollars, Brashers, etc.
Which top 10 coins out there have been with their current owners for over 50 years.
You missed my point, Zoins. None of the coins that are in contention for a ten million price tag have been minted in the last fifty years. So the the supply of top tier coins has remained constant. What has changed is the concentration of wealth that drives prices of the elite examples. I am taking absolutely no political or socioeconomic stance here, but a growing group of billionaires have the ability to drive coins up to 8 figures without flinching.
That was not true a generation ago.
Ah, I did misread your point.
Then it should be easy to name the 10 coins that would cross the $10M mark? Would you go by inflation-adjusted past auction sales to find the 10?
Regarding billionaires, of course they could, but is there any indication, at all, that they would? We have Hansen and Simpson today and neither have $10M coins yet.
Off the top of my head:
J-1776 pattern
1804 pr68 (if they had let it sell)
1849 $20
1933 $20 (the legal one)
1877 $50 pattern
Interesting thought.
Good list. I wonder if the $10M candidates would be the same coins on a 10 Greatest Coins list.
My 4 year old Redbook lists ten coins that have auctioned for $3,000.000 plus.
Essentially you need a bit more than a tripling of that performance to achieve the ten, ten million dollar coin threshold.
May take a generation, but no more than that.
@Coinstartled ... .A generation is 20 years.... tick tock......see you in 2039....Cheers, RickO
Hope so, Ricko. I'll buy the first drink!
About another $500 million in very serious focused money entering the market.
For a sense of proportion, think of how many seconds of automated securities trades it takes to spend that kind of loot.
What is needed for this to happen and how likely is it?
Available today? No. In the next wave...….
1804 $10 proof
1838 $10 proof
Uniquely-stamped Brasher
Just to come up with ten total pieces is going to, in my mind, mean the other Half Union, the other '49 $20 another Brasher, another '94 $1 and another '04 $1, both '38 $10's and both '04 proof $10's to be vended as "product". Hopefully @MrEureka and I can discuss this over a second glass of a piquant chardonnay soon.
Absent an audited melt, and considering now possible emergence of others recognized to exist outside gov't hands, the Farouk '33 may never get as high as it did again.
We're not talking shiny pink rabbits here, are we?
@ColonelJessup.... I look forward to hearing excerpts of that discussion - though I would rather take part
Cheers, RickO
Whichever comes first.
Either the lion lies down with the lamb or gold hits $7200.
They don't call it smart money for nothing
Fellow investors. If the lion lies down with the lamb, short your defense contractors and fossil-fuel-focused industries and get yourself a basketful of Mean Green New Deal infrastructure bonds.
There's a lovely Greek taverna in Teaneck with outdoor seating and shade for Andy's dogs. Join us anytime. I think you're less than an hour away.
If I had $10 million, the only coin I might be willing to spend that much on would be the 1822 half eagle.
i would add to a list of coins that have a potential for 10m at some point:
1870-s $3 gold
1822 half eagle
1861 paquet rev $20 ms67
Probably the continuation of the greatest asset, credit and debt mania in the history of civilization. In the other words, the one we have right now. It won't happen without it any time soon.
Is there 10 coins that would qualify right now?
Sure is. The ten known examples of 1894-S dime. 10 coins, $100M.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
More price inflation on collectibles as we have been seeing for many years now. Gold and silver have increased manifold in the last 20 years, also rare coins.
As for what would it take, for me it would take winning the powerball jackpot for a few hundred million. Then I would be in a position to set aside 100M in an attempt to acquire all 10 known 1894-S dimes.
I would build a Fort Knox-like state-of-the-art facility to house the 10 1894-S dime coins, and tout it as "The most expensive coin holder on Earth." Viewing the coins would be possible, by invitation only.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
Out of curiosity....how long did it take to get from the FIRST $1mil coin, to having 10 $1mil coins? One would think it would take longer than that span of time....Probably much longer??