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Where in the numismatic supply chain are all of the fresh coins?

BoosibriBoosibri Posts: 11,867 ✭✭✭✭✭

My guess is that they are in a few hands.

Comments

  • 291fifth291fifth Posts: 23,934 ✭✭✭✭✭

    Scrooge McDuck's money bin.

    All glory is fleeting.
  • coinkatcoinkat Posts: 22,764 ✭✭✭✭✭

    I suppose it largely depends on how fresh is defined. Part of the intrigue is the story behind a coin in terms of where it came from and how it made it's way into the "numismatic supply chain"

    Experience the World through Numismatics...it's more than you can imagine.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    I think it depends upon the coin or series. The impression I have for the coins I want to buy most (mostly pillar coinage but a few others) must be in "strong hands" (owned for a long time by the same collector) due to a high preference or might change hands without my knowledge.

    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

  • neildrobertsonneildrobertson Posts: 1,181 ✭✭✭✭✭
    edited June 12, 2020 12:45PM

    Sometimes I even find myself trying to guess which country they are in. I don't even know that much.

    IG: DeCourcyCoinsEbay: neilrobertson
    "Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me

  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    @291fifth said:
    Scrooge McDuck's money bin.

    I bought from him before 😊

    @WCC said:

    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

    What coins do you own from Stuart’s collection ?

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @bidask said:

    @291fifth said:
    Scrooge McDuck's money bin.

    I bought from him before 😊

    @WCC said:

    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

    What coins do you own from Stuart’s collection ?

    1770 NGC AU-58 8R and 1759 NGC F-15 half real.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @neildrobertson said:
    Sometimes I even find myself trying to guess which country they are in. I don't even know that much.

    My inference based upon auction appearances, dealer inventory and eBay is that most western and colonial coinage is either in the US or any number of western European countries. I don't follow oriental coinage, so it may differ. (As examples, I presume most or at least a lot of better Chinese and Japanese coinage is owned in the home market. The collector bases are sufficiently large, enough collectors there can afford it and the collecting "infrastructure" is presumably sufficiently developed.)

    There are exceptions of course to my above generalization. As one example, it's likely that most better South African ZAR and Union coinage is owned locally. Much of it used to be owned by US collectors and probably in other commonwealth countries but since the widespread preference for TPG and the higher price level starting around 2004, it appears to have mostly returned.

    South Africa collectors obviously have a higher preference for their own coinage versus those elsewhere and there is (or certainly was when I actively collected it) a bifurcated market with a higher price level locally and a (much) lower one elsewhere. Second, the price level is much lower now versus the peak around YE 2011 but many of the better coins still aren't particularly cheap relative to other world coinage.

    For the most preferred Spanish colonial and Latin coinage collected by members here, I'd say the lopsided proportion of the highest quality examples are owned by US based collectors. I've bought most of the better coins I competed for myself and it's quite common to see coins from Sixbid auctions posted here or offered by US dealers.

  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    Is this a Richard Stuart coin ?

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @WCC said:
    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

    Part of the collection was offered for sale publicly, part went direct to auction and some was sold privately. If the coins you're interested in were in the third group, there would never have been an opportunity to buy them.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @MasonG said:

    @WCC said:
    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

    Part of the collection was offered for sale publicly, part went direct to auction and some was sold privately. If the coins you're interested in were in the third group, there would never have been an opportunity to buy them.

    Thanks, I must have totally missed it, as I don't ever recall seeing it. I am interested in the better pillar 1/2R, 1R, 2R and 4R; XF coins and better. If these sold at auction, I would appreciate it if I could be pointed to where to find it.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @bidask said:
    Is this a Richard Stuart coin ?

    The label on the two I have and all others I have seen differs, both in how it looks and by including the provenance (or pedigree).

  • AbueloAbuelo Posts: 1,759 ✭✭✭✭✭

    As one example, I don't know how the Richard Stuart collection was sold but maybe someone here does. I presume it was handled by a specialist dealer. I own two of his former coins but would have liked to have had an opportunity to buy others included in the NGC gallery.

    Worldnumismatics sold some. Others were auctioned by Sedwick, Stack's, and Heritage (likely the bulk was divided by the 3). But the most interesting coins I believe were sold privately and likely not to be seen for a long time...

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @WCC said:
    Thanks, I must have totally missed it, as I don't ever recall seeing it. I am interested in the better pillar 1/2R, 1R, 2R and 4R; XF coins and better. If these sold at auction, I would appreciate it if I could be pointed to where to find it.

    As Abuelo said, Sedwick, Stack's, and Heritage handled part of the collection but the best pieces were not offered publicly.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    If the dealers who specialize in the kind of coins you collect (ignoring regularly available coins) don't know who you are, you have no idea what coins you're not getting a chance to see.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @MasonG said:
    If the dealers who specialize in the kind of coins you collect (ignoring regularly available coins) don't know who you are, you have no idea what coins you're not getting a chance to see.

    Probably true. I have bought a low proportion from dealers. But mostly, primarily at auction but infer from your post that Stuart's coins I mentioned were likely sold through a dealer and I concur.

    One challenge for most collectors is that, if you aren't a big enough spender, the coins will be offered to someone else who is. A few years ago after buying three from one dealer, I was offered one the next time he had another but declined due to the price. I haven't seen one on his website since but if he did, probably offered it to someone else first before it was posted.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭
    edited June 12, 2020 7:05PM

    @bidask said:

    @Boosibri said:
    My guess is that they are in a few hands.

    You mean like this one ?!

    More recently since the COVID outbreak, I have noticed a decrease in both quality and availability. Heritage has the lowest number listed to my recollection, at least for a LONG time. Currently, they have about 3200 world coins on their site but of this total, just under half are currency notes, Canada and China. I presume more show up for their next big auction but the selection is really limited (relatively) right now.

  • AbueloAbuelo Posts: 1,759 ✭✭✭✭✭

    I do not think there are coins anywhere. All dealers I follow have very low inventory.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭
    edited June 12, 2020 8:10PM

    @WCC said:
    Probably true. I have bought a low proportion from dealers. But mostly, primarily at auction but infer from your post that Stuart's coins I mentioned were likely sold through a dealer and I concur.

    If you're a dealer who has expertise in a particular area of the market, you know who the collectors are and might even have wantlists on file from them. That being the case, why would you give up a percentage of the sale by sending the coins to auction instead of selling directly to those who you know who would be bidding on them?

    edited to add... On top of that, selling directly to a collector puts you in a better position to buy the coin back when the collector sells than consigning to an auction house, where the buyer doesn't know where the coin came from.

  • pruebaspruebas Posts: 4,322 ✭✭✭✭✭

    @MasonG said:

    @WCC said:
    Probably true. I have bought a low proportion from dealers. But mostly, primarily at auction but infer from your post that Stuart's coins I mentioned were likely sold through a dealer and I concur.

    If you're a dealer who has expertise in a particular area of the market, you know who the collectors are and might even have wantlists on file from them. That being the case, why would you give up a percentage of the sale by sending the coins to auction instead of selling directly to those who you know who would be bidding on them?

    You would do this if multiple collectors had interest in the same coins. Put them in auction and let them fight over them.

    Not my cup of tea, but many do this.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭
    edited June 12, 2020 8:19PM

    @pruebas said:
    You would do this if multiple collectors had interest in the same coins. Put them in auction and let them fight over them.

    Not my cup of tea, but many do this.

    You could, but if you think by selling directly, you'll be able to buy the coins back some day...

    "If I sell to you instead of going to auction, will you agree to give me right of first refusal when you're ready to sell?"

  • MrEurekaMrEureka Posts: 23,936 ✭✭✭✭✭

    The freshest coins are sitting at the bottom of the ocean and buried in ancient fields. But there are reasonably fresh coins just about everywhere you might imagine.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • SapyxSapyx Posts: 1,999 ✭✭✭✭✭
    edited June 13, 2020 2:49AM

    The logical answer to the OP's question is, "at the first stop".

    Example from ancient coins: the people that dig up the ancient coins, either legally or illegally, might qualify as the "first stop". But they aren't necessarily knowledgeable enough about ancient coins to be able to cherrypick for themselves the true valuables out of a bulk lot of freshly-dug coins. Whoever buys it from those diggers, is going to be the true "first stop" for that particular batch of coins. That person will cherrypick the best and bulk-sell the rest. The next buyer of that bulk lot will try to do the same, and so on, perhaps for half a dozen buyers, before the picked-through dregs finally end up on eBay as bulk ancient uncleaned coins.

    Another example, from my own experience. I'm a volunteer for a missionary organization, their "coin expert" - if anyone donates coins to the organization, it's my job to value them and try to raise as much money as possible via their sale. I am "the first stop" for these coins; the collections are raw and many haven't seen the light of day for years. I will pick through them, buying some I might want to keep myself, picking out others that are worth individual sale on eBay, picking out some of the odd & curious items for sale through my local coin club auctions, and dumping the remnants off at a B&M coin dealer.

    Being a "first stop", the person who gets to see "fresh coins", is not all beer and skittles; there's plenty of wailing and gnashing of teeth too. I recently handled a collection worth several thousand dollars - well, it would have been worth several thousand dollars when first bought and assembled, but the atrocious storage conditions the collection had been kept in had ruined many of the most valuable items, turning $100 coins into $5 coins. The missionary organization ended up receiving about $500 for the whole lot.

    Waste no more time arguing what a good man should be. Be one.
    Roman emperor Marcus Aurelius, "Meditations"

    Apparently I have been awarded one DPOTD. B)
  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @MasonG said:

    @WCC said:
    Probably true. I have bought a low proportion from dealers. But mostly, primarily at auction but infer from your post that Stuart's coins I mentioned were likely sold through a dealer and I concur.

    If you're a dealer who has expertise in a particular area of the market, you know who the collectors are and might even have wantlists on file from them. That being the case, why would you give up a percentage of the sale by sending the coins to auction instead of selling directly to those who you know who would be bidding on them?

    edited to add... On top of that, selling directly to a collector puts you in a better position to buy the coin back when the collector sells than consigning to an auction house, where the buyer doesn't know where the coin came from.

    I have want lists with a few. With the Guatemala pillars in the Stuart collection, I'm assuming that a dealer functioned as an intermediary in the sale. Maybe they bought it directly for resale or maybe just collected a commission.

    Recently, I was discussing this same topic with a long-time South African collector who has been a full time dealer on BidOrBuy (South Africa's eBay equivalent) since 2009. I wrote a post inferring that the elite ZAR and especially Union coinage is substantially held by a relatively small group of affluent collectors who often know each other. Outside a limited number which aren't that scarce, most of the more expensive and rarest coinage in both series doesn't seem to sell publicly. There are many coins I have only seen up to twice, others never and it's a noticeable number. An example is the 1895 Kruger half crown pattern in gold (#2 South African coin after the 1898 single 9 pond by my assessment) where the last public sale was in a British auction in the early 1960's for 3600 GBP, about $9000 USD.

    He agreed with me that these coins probably sell in a similar manner to my assumption of these Stuart coins. This isn't "fact" but an inference. Coins like these are often owned for decades by the same collector such as a few I bought from the CNG Lissner sale but unlikely to be all.

  • WCCWCC Posts: 2,365 ✭✭✭✭✭

    @Sapyx said:
    The logical answer to the OP's question is, "at the first stop".

    Example from ancient coins: the people that dig up the ancient coins, either legally or illegally, might qualify as the "first stop". But they aren't necessarily knowledgeable enough about ancient coins to be able to cherrypick for themselves the true valuables out of a bulk lot of freshly-dug coins. Whoever buys it from those diggers, is going to be the true "first stop" for that particular batch of coins. That person will cherrypick the best and bulk-sell the rest. The next buyer of that bulk lot will try to do the same, and so on, perhaps for half a dozen buyers, before the picked-through dregs finally end up on eBay as bulk ancient uncleaned coins.

    Another example, from my own experience. I'm a volunteer for a missionary organization, their "coin expert" - if anyone donates coins to the organization, it's my job to value them and try to raise as much money as possible via their sale. I am "the first stop" for these coins; the collections are raw and many haven't seen the light of day for years. I will pick through them, buying some I might want to keep myself, picking out others that are worth individual sale on eBay, picking out some of the odd & curious items for sale through my local coin club auctions, and dumping the remnants off at a B&M coin dealer.

    Being a "first stop", the person who gets to see "fresh coins", is not all beer and skittles; there's plenty of wailing and gnashing of teeth too. I recently handled a collection worth several thousand dollars - well, it would have been worth several thousand dollars when first bought and assembled, but the atrocious storage conditions the collection had been kept in had ruined many of the most valuable items, turning $100 coins into $5 coins. The missionary organization ended up receiving about $500 for the whole lot.

    Some of this too. NGC profiled South African coinage from the Baldwin family collection somewhat over 10 years ago. Most of it was late 19th century "patterns". Considering the firm was founded in 1872, I'd guess there is a good chance they bought it shortly after it was issued.

    A few contributors here have mentioned multi-generational family collections in Europe going back several centuries. Must be some really interesting coins in there.

  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    WCC here are a couple of nice 5 shillings I have held a long time ...both top pops.


    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • pruebaspruebas Posts: 4,322 ✭✭✭✭✭
    edited June 24, 2020 2:58PM

    I just bought a fresh "deal" out of Munich. At auction no less! There was very little interest (which was fine by me) and I got them mostly at opening bid.

    There are fresh coins to be had. You just have to have wide-ranging tastes and interests and keep your eyes open.

  • BoosibriBoosibri Posts: 11,867 ✭✭✭✭✭

    @pruebas said:
    I just bought a fresh "deal" out of Munich. At auction no less! There was very little interest (which was fine by me) and I got them mostly at opening bid.

    There are fresh coins to be had. You just have to have wide-ranging tastes and interests and keep your eyes open.

    Do share the newps!

  • pruebaspruebas Posts: 4,322 ✭✭✭✭✭
    edited June 24, 2020 3:34PM

    @Boosibri said:

    @pruebas said:
    I just bought a fresh "deal" out of Munich. At auction no less! There was very little interest (which was fine by me) and I got them mostly at opening bid.

    There are fresh coins to be had. You just have to have wide-ranging tastes and interests and keep your eyes open.

    Do share the newps!

    When I receive them.

    But since they were of little interest to most bidders, they would probably hold little interest for you as well. (I don’t mean that as a slight against you.)

    FYI they are all non-coins (probably considered tokens) and are German and English. But they all came from a long-time collection of a knowledgeable collector, and after all, isn't that the best place?

    Sorry, I apologize for seeming to imply that they were coins.

  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    Medals ?

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • OboneObone Posts: 139 ✭✭✭
    edited June 30, 2020 7:44AM

    @bidask said:
    Medals ?

    I've actually had great luck buying medals. I'm a small time dealer, so always looking for coins to add to my inventory. These Swedish Medical medals I picked up are considered "fresh" IMO, and the price was great as well.


  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    @MrEureka said:
    The freshest coins are sitting at the bottom of the ocean and buried in ancient fields. But there are reasonably fresh coins just about everywhere you might imagine.

    Where are they ?
    I can't find any out there and I am looking...well maybe a couple of fresh coins but are not offered for sale.

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • MrEurekaMrEureka Posts: 23,936 ✭✭✭✭✭

    @bidask said:

    @MrEureka said:
    The freshest coins are sitting at the bottom of the ocean and buried in ancient fields. But there are reasonably fresh coins just about everywhere you might imagine.

    Where are they ?
    I can't find any out there and I am looking...well maybe a couple of fresh coins but are not offered for sale.

    I hate to give away trade secrets, but you can find fresh coins in private collections, estates, dealer inventories, auctions, museums, hidden in walls and under floorboards, in your change, in grandma's cookie jar, or perhaps even unattributed in your own collection.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • bidaskbidask Posts: 13,860 ✭✭✭✭✭

    @MrEureka said:

    @bidask said:

    @MrEureka said:
    The freshest coins are sitting at the bottom of the ocean and buried in ancient fields. But there are reasonably fresh coins just about everywhere you might imagine.

    Where are they ?
    I can't find any out there and I am looking...well maybe a couple of fresh coins but are not offered for sale.

    I hate to give away trade secrets, but you can find fresh coins in private collections, estates, dealer inventories, auctions, museums, hidden in walls and under floorboards, in your change, in grandma's cookie jar, or perhaps even unattributed in your own collection.

    you got a point .

    Thats why your known as a coin hound....

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • neildrobertsonneildrobertson Posts: 1,181 ✭✭✭✭✭

    @MrEureka said:

    @bidask said:

    @MrEureka said:
    The freshest coins are sitting at the bottom of the ocean and buried in ancient fields. But there are reasonably fresh coins just about everywhere you might imagine.

    Where are they ?
    I can't find any out there and I am looking...well maybe a couple of fresh coins but are not offered for sale.

    I hate to give away trade secrets, but you can find fresh coins in private collections, estates, dealer inventories, auctions, museums, hidden in walls and under floorboards, in your change, in grandma's cookie jar, or perhaps even unattributed in your own collection.

    Pack it up boys! The thread is over!

    The kind of coins people here like to buy spend a small fraction of their lives on the market.

    IG: DeCourcyCoinsEbay: neilrobertson
    "Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me

  • LochNESSLochNESS Posts: 4,829 ✭✭✭

    As funny or tired as some of those examples may sound, fact is they've all happened more than once and quite literally. Seems like yesterday Kagin was selling a hoard of fresh US gold found in a rusted old can in someone's backyard.

    ANA LM • WBCC 429

    Amat Colligendo Focum

    Top 10FOR SALE

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