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Fairmont Collection - Hendricks Set

breakdownbreakdown Posts: 1,952 ✭✭✭✭✭

A number of half eagle sets were added to the registry on February 2 under the title Fairmont Collection - Hendricks Set. See this link:
https://www.pcgs.com/setregistry/fairmont-collection/othersets/66700

Any information about this collection? I am familiar with the Fairmont coins that StacksBowers has been selling (I even own a few) but would be interested to learn more about this collection.

"Look up, old boy, and see what you get." -William Bonney.

Comments

  • Wahoo554Wahoo554 Posts: 1,086 ✭✭✭✭✭

    No info, but equally interested

  • cccoinscccoins Posts: 284 ✭✭✭✭

    I have been looking at them since Long Beach. What an amazing set, which was likely put together over a short period of time. It has a on almost complete run of Carson City gold, and the cc $20 set is remarkable.

  • breakdownbreakdown Posts: 1,952 ✭✭✭✭✭

    @cccoins said:
    I have been looking at them since Long Beach. What an amazing set, which was likely put together over a short period of time. It has a on almost complete run of Carson City gold, and the cc $20 set is remarkable.

    In case you didn't see, StacksBowers is auctioning the sets off, starting in its Spring auction.

    "Look up, old boy, and see what you get." -William Bonney.

  • TurtleCatTurtleCat Posts: 4,589 ✭✭✭✭✭

    I was looking at those lots online and drooling over them. I sure hope people don’t crack them out to mess with them in hopes of better grades.

  • dbldie55dbldie55 Posts: 7,717 ✭✭✭✭✭

    Recently graded. Wonder if they sent in for re-grade or if they were all raw and were graded for selling.

    Sets were all created on 2/1, so leads me to believe it is to promote the sale.

    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • skier07skier07 Posts: 3,648 ✭✭✭✭✭

    It seems odd to me that Stacks could create a high quality, inclusive set like this from coins laying around in a European bank vault. Something doesn’t make sense. What’s the likelihood of a 1861-D or 1870-CC $5 being discovered like this?

  • fathomfathom Posts: 1,513 ✭✭✭✭✭

    The fact they exist is great for the hobby.

    $5 collectors rarely see a run of '63-'64-'65 philly.

  • pcgscacgoldpcgscacgold Posts: 2,615 ✭✭✭✭✭
    edited March 21, 2022 4:31AM

    It will be interesting to watch this auction. Many of the guide prices for the no motto $10 Liberty's have not moved up in the current market. This auction may finally cause some price guide movement.

    For example the 1850 Large date in AU58 has PCGS pop of 9 with only 6 higher and is still listed as a $3250 coin. CAC price guide is at $2250 for that coin (WOW, I would buy every coin I could find at that price). No way this one sells for anything near that. The AU55 1850 has PCGS pop of 9 and is still listed as an $1850 coin and $1680 in CAC guide. These rarely come up for sale so it makes pricing hard. Maybe this auction will add some life to the Liberty pricing guides. If the current prices are correct, I have a chance to be a buyer.

    Edit: Misread the 1850 as a Large Date but it is Small date. Still think many of these coins will cause adjustments to price guides.

  • PedzolaPedzola Posts: 1,005 ✭✭✭✭✭
    edited March 21, 2022 6:31AM

    @skier07 said:
    It seems odd to me that Stacks could create a high quality, inclusive set like this from coins laying around in a European bank vault. Something doesn’t make sense. What’s the likelihood of a 1861-D or 1870-CC $5 being discovered like this?

    I would love to be an insider who gets to know the answers to questions like - where did these coins come from? How much US gold is sitting in european vaults? And how do I get to see it and buy it raw? B)

    One possible answer to how such a collection comes to be is that there is simply a massive hoard of coins and someone just took the time pick the best out of the pile. But where did that pile come from? :o

  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭

    Check the news, there are assets moving all over the world for various reasons.

    ANA-LM, NBS, EAC
  • skier07skier07 Posts: 3,648 ✭✭✭✭✭

    @Pedzola said:

    @skier07 said:
    It seems odd to me that Stacks could create a high quality, inclusive set like this from coins laying around in a European bank vault. Something doesn’t make sense. What’s the likelihood of a 1861-D or 1870-CC $5 being discovered like this?

    I would love to be an insider who gets to know the answers to questions like - where did these coins come from? How much US gold is sitting in european vaults? And how do I get to see it and buy it raw? B)

    One possible answer to how such a collection comes to be is that there is simply a massive hoard of coins and someone just took the time pick the best out of the pile. But where did that pile come from? :o

    If there are massive hoards in Europe with good stuff like this the people who know will be tight lipped because eventually it will have a negative effect on prices.

  • fathomfathom Posts: 1,513 ✭✭✭✭✭

    Hoards can increase demand and move more collectors into series.

    The unobtainable becomes obtainable. With real rare dates that are always in demand prices remain relatively stable.

  • skier07skier07 Posts: 3,648 ✭✭✭✭✭

    @fathom said:
    Hoards can increase demand and move more collectors into series.

    The unobtainable becomes obtainable. With real rare dates that are always in demand prices remain relatively stable.

    I had a gold expert tell me the same thing but I’m not convinced. If the total population of a rare date increases from 50 to 55 how can this be good for you if you already have this date?

  • fathomfathom Posts: 1,513 ✭✭✭✭✭

    @skier07 said:

    @fathom said:
    Hoards can increase demand and move more collectors into series.

    The unobtainable becomes obtainable. With real rare dates that are always in demand prices remain relatively stable.

    I had a gold expert tell me the same thing but I’m not convinced. If the total population of a rare date increases from 50 to 55 how can this be good for you if you already have this date?

    If you check the $5 sale prices on key dates since the Fairmont sales you will see they continue to increase.

    More demand results in fierce bidding.

  • breakdownbreakdown Posts: 1,952 ✭✭✭✭✭

    @fathom said:

    @skier07 said:

    @fathom said:
    Hoards can increase demand and move more collectors into series.

    The unobtainable becomes obtainable. With real rare dates that are always in demand prices remain relatively stable.

    I had a gold expert tell me the same thing but I’m not convinced. If the total population of a rare date increases from 50 to 55 how can this be good for you if you already have this date?

    If you check the $5 sale prices on key dates since the Fairmont sales you will see they continue to increase.

    More demand results in fierce bidding.

    I have to agree with fathom even though skier07's logic makes sense. Fairmont has poured coins into the half eagle market for the last couple years and against logic, prices just keep going up.

    "Look up, old boy, and see what you get." -William Bonney.

  • jonrunsjonruns Posts: 1,196 ✭✭✭✭✭

    I think both posters are right. Prices for a date may go up for a while but ultimately the prices will decline if enough new ones emerge...which is why they are being released slowly over time...look at the shipwreck dates as an example of price decreases...

    From a DW article on Civil War gold and the Kunker sales:

    "Are there more of these lurking overseas? My best guess is yes; especially given the uniform number of coins per date which were offered. Will it impact the price levels of these issues? So far the impact has not been negative but if there are, say, five more 1862-S eagles then I’d expect prices to drop."

  • CurrinCurrin Posts: 1,512 ✭✭✭✭✭

    FYI
    I will be posting a series of coins from this collection in the next few days, including $5, $10, and $20.

    https://forums.collectors.com/discussion/997819/hansen-watch#latest

    My 20th Century Type Set, With Type Variations---started : 9/22/1997 ---- completed : 1/7/2004

    My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
  • semikeycollectorsemikeycollector Posts: 923 ✭✭✭✭✭

    @fathom said:
    The fact they exist is great for the hobby.

    $5 collectors rarely see a run of '63-'64-'65 philly.

    Hi Fathom,

    I started collecting the Lib $5 about a year ago and would love any of the 63,64,65. For me to afford, it would have to be one of the lowest graded specimens, Not too many like that at all!

    Only have the 1842 LL, 1865-s and 1872. Only going for better dates.

  • pcgscacgoldpcgscacgold Posts: 2,615 ✭✭✭✭✭

    Heard an interesting conversation at the local coin show on Friday. A better known area dealer was talking with someone about higher grade type gold. The Fairmont collection and CAC came up. The dealer talked at length about how every coin in that sale was over-graded by at least a grade or two and that people were getting stuck with coins that will never move. He also said that no way CAC should have stickered them. He said the coins were beaten up. This contradicts what I have read from the national gold dealers like Legends, Winter and Witter.

    I will say he also made a comment that CAC gold does not sell any better (or for higher prices) than non-CAC gold.

  • BigtreeBigtree Posts: 194 ✭✭✭✭✭

    I find it fascinating that we’ve known about the Fairmont hoard for four years and still can only guess at how deep it is and how many more coins will be coming to market. Stacks seems to have done a masterful job of slowly releasing the coins and stimulating demand while tightly controlling information. I agree that true rarities are likely safe from price suppression, but the “faux-rarities” (Doug Winter’s term) might be at risk.

  • pcgscacgoldpcgscacgold Posts: 2,615 ✭✭✭✭✭

    @Floridafacelifter said:

    @pcgscacgold said:

    I will say he also made a comment that CAC gold does not sell any better (or for higher prices) than non-CAC gold.

    Balderdash and poppycock- I don’t always buy gold, but when I do, it’s PCGS/CAC- 100%, no exceptions, and I expect to have to pay up for it

    I agree. That’s why CAC is my middle name.

    It was just an interesting conversation since I plan to add a few of the coins to my type set.

  • FloridafacelifterFloridafacelifter Posts: 1,151 ✭✭✭✭✭

    @pcgscacgold said:

    I agree. That’s why CAC is my middle name.

    And PCGS is your first name!
    Funny I don’t feel quite as strongly in the silver and copper departments and own both with and without CAC, but with gold there are so many coins and they are so expensive I just feel better with both on the label.

  • pcgscacgoldpcgscacgold Posts: 2,615 ✭✭✭✭✭

    @SCT said:
    Here is the AU53+ I was able to pick up. My at home photos are lacking so I will post the true view. I'm very happy with the purchase.

    Great looking coin from a series I enjoy.

  • burdellburdell Posts: 53 ✭✭✭✭

    I thought this tidbit was interesting ---- the Hendricks set coins 'were set aside years ago'. Page vii of the catalog.

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