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Do you know of anyone who attempted to "corner the market" on a particular coin or series?

braddickbraddick Posts: 23,119 ✭✭✭✭✭

Whether they were successful or not.
For example, someone with nearly unlimited resources purchases every single Chain cent on the market. After five years, will Chain cents still be relatively available? Is it possible with any coin to own enough to affect the market?

peacockcoins

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    Mr_SpudMr_Spud Posts: 4,449 ✭✭✭✭✭
    edited July 30, 2022 2:14PM

    The main one I can think of that sort of fits that description was Russ with his dot head Kennedys back in the days. I vaguely remember he was able to influence the population reports when he cracked some out and turned in the labels all at once or something like that. Only I think they weren’t attributed as to the variety, just high grade dcams for that date. It was something like that

    Mr_Spud

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    ya

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    braddickbraddick Posts: 23,119 ✭✭✭✭✭

    @jwitten said:
    I had over 50 1911 $2 1/2 Indians at one point. That’s about as close as I came, lol.

    Wait. What?
    Why?
    Sounds like a great story...

    peacockcoins

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    JBKJBK Posts: 14,776 ✭✭✭✭✭

    Yes, I am trying to corner the market for a certain type of foreign banknote. Luckily it doesn't require deep pockets. :p

    I've bought all but one that has appeared on ebay in the past several years, except for a few that I already owned.

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    JMS1223JMS1223 Posts: 1,098 ✭✭✭✭✭

    Not with coins (yet) but I have seen it with certain autographs. Unfortunately it makes me wanting an example next to impossible to obtain unless I want to spend thousands of dollars.

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    WalkerfanWalkerfan Posts: 8,975 ✭✭✭✭✭

    I knew a guy who was constantly buying 1938-D Walkers in better MS grades.

    This issue was saved in large numbers, so I doubt that he had an impact.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

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    JMS1223JMS1223 Posts: 1,098 ✭✭✭✭✭
    edited July 30, 2022 2:49PM

    Also interesting to note that when the person who tries/tried to corner the market on a particular coin decides to liquidate their collection (or dies) that small hoard will temporarily flood the market causes prices to crash.

    I remember when I wanted to sell a 1955 Doubled Die cent there must had been at least twenty other examples for sale at a small coin show (20-30 dealers). This was in like 2015. No idea why this was because the one I had was in a collection for decades and not part of any recent liquidation.

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    TurtleCatTurtleCat Posts: 4,594 ✭✭✭✭✭

    Not with legal tender but the Franklin Mint put out a commemorative for my original hometown. I’ve snapped up every one in original packaging I’ve seen. Some of them only have a mintage of <600 so I probably have a sizable amount of them in original packaging.

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    BustDMsBustDMs Posts: 1,574 ✭✭✭✭✭

    Sol Kaplan tried to corner the market on 1956 proof sets.

    Q: When does a collector become a numismatist?



    A: The year they spend more on their library than their coin collection.



    A numismatist is judged more on the content of their library than the content of their cabinet.
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    DisneyFanDisneyFan Posts: 1,716 ✭✭✭✭✭
    edited July 30, 2022 4:19PM

    Back in March of this year Julian Coin had this listed on ebay.

    This unprecedented hoard of 150 165-year-old 1856 Upright 5 Gold Dollars features two rare PCGS MS-65 specimens and 7 MS-64 specimens, 4 graded by PCGS and 3 by NGC. 37 pieces are CAC stickered. This hoard is estimated to represent approximately 50% of the surviving population of this original Red Book variety and the first year of the Type 3 gold dollar.

    The reason this variety is so scarce is due to the fact that it was only minted during Q-4 of 1856 as this variety represents the US Mint's standardization of date logotype on the reverse of the U.S. gold dollar. In 1857, all date logotypes for all denominations of US coinage went upright in non-italic format.

    Also, I recall around 2003, Stack's Bowers had an auction catalogue filled with the Hawaiian commemorative half dollar. I had just bought mine the year before. Of course none had green or gold stickers.

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    logger7logger7 Posts: 8,090 ✭✭✭✭✭

    Registry or condition census numbers may be close to that; but it isn't a "need" so collectors can always wait. If someone had a large group of 70-cc $20s and refused to sell unless the numbers went up, they may get a narrow enough bottle neck to demand considerably more for those looking to complete sets.

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    WeissWeiss Posts: 9,935 ✭✭✭✭✭

    Incidentally, that MS69 example is available. As my man Ferris says: If you have the means, I highly recommend picking one up...

    https://rmcoin.com/product/1909-ngc-ms69-ny-hk-371-hendrik-hudson-daalder-hudson-fulton-celebration/

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
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    leothelyonleothelyon Posts: 8,363 ✭✭✭✭✭
    edited July 30, 2022 7:46PM

    I have collected about 150 PL business strikes 1938 to 1970 (28 are war nickels with a complete set) over the last 31 years, a few are FS. Our host has graded about a dozen. Does this count? :)

    https://www.youtube.com/watch?v=uU4C8GbFdJM&amp;feature=emb_title

    Leo

    I should add; I'm not attempting to corner any market.

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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    skier07skier07 Posts: 3,694 ✭✭✭✭✭

    @Zoins said:
    Here's someone who owned 53 specimens of the 1909 VDB Matte Proof Lincoln Cent.

    https://forums.collectors.com/discussion/928292/collector-owns-53-1909vdb-matte-proof-lincoln-cents-with-link-to-cw

    Any idea what happened to this “hoard”?

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    jwittenjwitten Posts: 5,077 ✭✭✭✭✭

    @braddick said:

    @jwitten said:
    I had over 50 1911 $2 1/2 Indians at one point. That’s about as close as I came, lol.

    Wait. What?
    Why?
    Sounds like a great story...

    I bought and sold a ton of $2 1/2 coins, and I was always paranoid I was going to inadvertently sell a 1911-D weak D, so I just never sold any of the 1911’s 😂 I did end up cherry picking three weak D’s from the group, and eventually sold the rest off (I still have two of the weak d’s though. I have a picture somewhere with a roll of them.

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    braddickbraddick Posts: 23,119 ✭✭✭✭✭

    :o

    peacockcoins

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    cmerlo1cmerlo1 Posts: 7,891 ✭✭✭✭✭
    edited August 2, 2022 2:53PM

    I took a submission once from someone who had inherited their father's (or father-in-law's) coin collection. They had accumulated a quantity of 1883 to 1886 3-cent nickel pieces, and had 30+ pieces of each date, with a binder of 2X2's for each date. There were about 50 1885's which I believed were business strikes, which meant I had .05% of the total mintage of 1000 in front of me. The person who accumulated the collection in the 50's - 70's believed, based on the mintages, that they would be valuable one day.

    Correction- that was 5% of the total mintage.

    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
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    derrybderryb Posts: 36,209 ✭✭✭✭✭

    At one time wasn't Julian buying up all the 1999 w $5/$10 AGEs "struck with unpolished dies?"

    Give Me Liberty or Give Me Debt

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    cmerlo1cmerlo1 Posts: 7,891 ✭✭✭✭✭

    @JBK said:

    @cmerlo1 said:
    There were about 50 1885's which I believed were business strikes, which meant I had .05% of the total mintage of 1000 in front of me.

    I think that would be 5%. ;)

    Yes! I was never great at math :)

    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
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    keyman64keyman64 Posts: 15,456 ✭✭✭✭✭

    What about the person that went after the sac/quarter mules? Anyone have an update on those?

    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
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    winestevenwinesteven Posts: 4,072 ✭✭✭✭✭

    @Weiss said:
    Incidentally, that MS69 example is available. As my man Ferris says: If you have the means, I highly recommend picking one up...

    https://rmcoin.com/product/1909-ngc-ms69-ny-hk-371-hendrik-hudson-daalder-hudson-fulton-celebration/

    Who is Ferris? Is he the “Big Wheel” of SCD’s? :D

    Steve

    A day without fine wine and working on your coin collection is like a day without sunshine!!!

    My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
    https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
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    GRANDAMGRANDAM Posts: 8,376 ✭✭✭✭✭

    About 15 years ago there was guy who was buying up all the 1972-P Ty 2 Eisenhower Dollars he could find. He did this for about 3 years and finally gave up on cornering the market. I think he had about 50 pcs at his height of buying.

    GrandAm :)
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    ZoinsZoins Posts: 33,900 ✭✭✭✭✭

    @keyman64 said:
    What about the person that went after the sac/quarter mules? Anyone have an update on those?

    I was thinking of this collector too. This is Tommy Bolack of New Mexico with more info here. I believe he had a good dealer relationship with @FredWeinberg.

    https://www.coinworld.com/news/us-coins/collector-now-owns-12-of-16-known-mule-errors.html

    Paul Gilkes said:
    New Mexico collector Tommy Bolack now owns an even dozen of the known (2000)-P double-denomination mule error coins featuring a George Washington obverse from the State quarter dollar series and the Soaring Eagle reverse from the Sacagawea dollar.

    Bolack’s latest acquisition brings to 12 the number of examples he owns among the now 16 known examples.

    Bolack said May 7 that he paid $85,000 to acquire from Fred Weinberg at Fred Weinberg and Co. in Encino, Calif., on May 4 an example graded Mint State 66 by Professional Coin Grading Service. The coin is a previously unreported example. It is identified from Die Pair 1. Three different obverse and reverse die pairs are identified for the 16 known examples.

    Weinberg said he secured the 16th example several weeks ago through another dealer. The provenance of the now 16th known example of the double-denomination error was not disclosed.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    Never tried such a thing with coins. I do have a custom Colt 1911 that is one of a kind. Cheers, RickO

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    Walkerguy21DWalkerguy21D Posts: 11,150 ✭✭✭✭✭

    There were certain scarcer large cent dates that I liked and bought when I saw them…..but after getting ~5 of each I wearied of them and have since dispersed most of them.

    OTOH, I’d reported previously on the forum about a dealer friend who loves the low mintage ‘13S Barber dimes. I assumed he’d stopped or leveled off a while ago as I hadn’t heard about them. Nope, in a recent conversation he said he had around 4000 now….

    Successful BST transactions with 170 members. Recent: Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
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    ZoinsZoins Posts: 33,900 ✭✭✭✭✭
    edited July 31, 2022 8:43AM

    I am trying to corner the market on something, but I'm not sure anyone cares! :D

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    OldhoopsterOldhoopster Posts: 2,930 ✭✭✭✭✭

    At one time, I had 6 examples of a Michigan CWT that was listed as R-7 (11-20 known), but I strongly suspect the actual population was higher. Only have 2 now, sold the rest

    Member of the ANA since 1982
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    jedmjedm Posts: 2,943 ✭✭✭✭✭

    @Walkerguy21D said:
    OTOH, I’d reported previously on the forum about a dealer friend who loves the low mintage ‘13S Barber dimes. I assumed he’d stopped or leveled off a while ago as I hadn’t heard about them. Nope, in a recent conversation he said he had around 4000 now….

    As I read through this thread I thought to myself.... hmmm do I know of anyone? The only example I could think of was back about 20 years ago I met someone at a coin show and they talked about hording the '13S Barber dimes. So maybe we have that same person in mind.

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    Why do people comment that those who corner the market will lose their shirt when they sell all at once.

    Any smart market maker will very slowly release a hoard of coins so that it will not be or hardly be noticed.

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    fluffy155fluffy155 Posts: 230 ✭✭✭✭

    Terry Brand was hoarding 1794 halves, prices took a dive when they were all dumped onto the market at about the same time. I think it was 2018 or so?

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    ZoinsZoins Posts: 33,900 ✭✭✭✭✭
    edited July 31, 2022 8:47AM

    @ErrorsOnCoins said:
    Why do people comment that those who corner the market will lose their shirt when they sell all at once.

    Any smart market maker will very slowly release a hoard of coins so that it will not be or hardly be noticed.

    Actually, I can think of one dealer that appears to corner the market on certain eye appealing errors. Every time I see one, there’s a high probability it’s in his inventory 😉

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    3stars3stars Posts: 2,282 ✭✭✭✭✭

    @ErrorsOnCoins said:
    Why do people comment that those who corner the market will lose their shirt when they sell all at once.

    Any smart market maker will very slowly release a hoard of coins so that it will not be or hardly be noticed.

    A lot of the time it’s families divesting an inheritance who have no clue.

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
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    opportunityopportunity Posts: 1,008 ✭✭✭✭

    I vaguely remember a time when 1809 dimes and 1807 CBH's couldn't be found

    Early American Copper, Bust and Seated.

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    amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    I know about the 13-S Dimes. Let's not forget about the Little Orphan Annie Dimes.

    Just like the 1794 Halves, the Little Orphan Annies were sold in the same manner by Heritage. Way too many at a time in an auction over multiple sales to ever have a hope to maintain their value!

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    FredWeinbergFredWeinberg Posts: 5,723 ✭✭✭✭✭

    A very well-known coin dealer back in the mid to late 70s, was trying to corner the market on proof
    Type 2 silver war nickels. As I recall, they were successful - the coins tripled in price,
    but I am not aware of how they were eventually dispersed.

    Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors
    for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
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    BuffaloIronTailBuffaloIronTail Posts: 7,413 ✭✭✭✭✭

    Specifics elude me. It's been awhile since I perused David Lange's Lincoln Cent book.

    He stated that someone tried to purchase the entire mintage of 1931-S Lincoln Cents (all 866,000 pieces).

    If someone has the book, they can look it up. Mine is hiding from me at the moment.

    Pete

    "I tell them there's no problems.....only solutions" - John Lennon

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