Fairmont Hoard... New Auction

Relaxn

At what point does the rarity ratings of the past 50 years become rendered obsolete?
Another set of Charlotte 5's, 09-O and 11-d 5$ with Key 10's and 20's.
At what point does this hoard crush the market?

Thousands and thousands of common date dreck but plenty of high end rare... or once thought rare coins hitting the market.

Its now year 4 or 5 of this Hoard trickling out... tons of dealers have the unstickered lower end stuff while the higher pieces clear through Stacks. How much more can the market take.

I know Doug Wintet still has unsold pieces sitting in his inventory as do many many dealers...

Just wondering

Coinosaurus

The market is just fine. Look at what happens anytime Doug lists a new batch of coins - the immediate sell rate is strong. Sometimes additional supply is OK, as it brings in new blood.

breakdown

For the half eagles: Lot of EF 45’s. Lot of gaps (one coin between 1861 and 72-S). Looks consistent with hypothesis that the higher graded stuff has been auctioned.

skier07

I think for the more common dates the Fairmont hoard will have little impact on prices. But for the rarer dates with very small populations especially thinly traded dates the hoard will have a negative effect. I also think there are a fair number of gold collectors who are getting burnt out and are reluctant to pull the trigger.

Relaxn

Common dates are absorbed because gold price is so numismatic value is absorbed within the intrinsic gold value. I know this because 200+ 1893 10$ have been sold with a special PCGS insert and via 800# commerical that airs on cable news channels.

The 61-72 5$ have mintage rarity vs Survival rarity... there is a difference. We buy 1866 5$ knowing x amount were minted and sets its own rarity but we buy 1860-Charlotte because of an accepted survival ratings that has been posited by DW and Others gold experts. We are now on our 5th 6th 60-c through Stacks and how many that were released through dealers? Fairmont hoard is causing the prevailing survival ratings to be re-examined. With no end in sight... anyone positing the best has been auctioned... basing that on what? Pure conjecture.

A lot of unsold Fairmont lots sit in dealers inventory... those are the ones where the Hoard name was placed on the holder. Plenty plenty of coins out of this hoard without the moniker added.

I argue we are nearing or are at saturation... market makers will buoy prices to protect their investments or inventory.

https://www.govmint.com/exclusive-collections/programs/fairmont-collection-reserve-plus

There are now
5,384 MS 63 1893 10$
11,472 MS 62 1893 10$
6,526 MS 61 1893 10$
Just at PCGS... of those 21k 1893's how many are Fairmont?

Just look around at how hard this thing is being marketed. Creating subsets and Fairmont Collection Reserve +...

Just wild.to me.

skier07

I saw this advertisement on tv last week.

DeplorableDan

The Fairmont board is actually one of the main factors I used in my decision to focus on early gold and pioneer. I had a few better date fairmont type coins that I sold in the nick of time, because subsequently the prices went down after the next fairmont round. The market absorbs a lot of it, but even Doug will admit that the market for better and rare date $20 has not been as hot as it should be considering the dramatic run up with everything else.

fathom

It appears some of the rarer dates are thinning out in subsequent releases.

As far as rare dates having doubled in pops who cares? You don't buy C or D coins to flip. High quality rare dates will do fine when you hold, primarily considering the hoard has recruited many more new collectors.

As far as common dates, they sold for barely over melt before the hoard anyway.

Project Numismatics

Keep it coming. Lower prices mean I can afford more dirty old gold.

Why complain about large releases of (mostly) original pre-33 gold. Especially branch mint. It’s a huge positive in my book.

DeplorableDan

@fathom said:
It appears some of the rarer dates are thinning out in subsequent releases.

As far as rare dates having doubled in pops who cares? You don't buy C or D coins to flip. High quality rare dates will do fine when you hold, primarily considering the hoard has recruited many more new collectors.

As far as common dates, they sold for barely over melt before the hoard anyway.

I think that's the moral of the story. There are plenty of great coins that will sell at fair prices considering their originality compared to the rest of the market. As long as its something you plan to hold for a while, you should be fine. How long the hold time will be remains to be seen, for all we know they have another 3-5 years worth of coins to disburse.

PerryHall

@Project Numismatics said:
Keep it coming. Lower prices mean I can afford more dirty old gold.

How can prices get any lower when most of these coins are already selling at near melt value?

skier07

Fairmont is very good if you’re trying to build a set. For someone older like me who isn’t going to hold a coin for ever i have no interest spending big bucks on a coin that I may be buried in and nobody knows how many more coins are in the hoard. I don’t buy coins with the expectation of making money but I also don’t buy to lose money. If you look at most of the Fairmont resales on GC the consigners aren’t doing very well. Granted the consigners aren’t holding the coin for a long enough period of time.

Project Numismatics

@PerryHall said:

@Project Numismatics said:
Keep it coming. Lower prices mean I can afford more dirty old gold.

How can prices get any lower when most of these coins are already selling at near melt value?

I just scrolled through the last Fairmont sale from March. I don’t see any half eagles that sold for near melt - much less C or D issues. But please point me to them.

Edited to add that I only see a handful DEs that sold for under $4k in the March auction - issues that were already very common. It’s not accurate to say these Fairmont auctions of better dates and condition are clearing at melt.

Project Numismatics

@skier07 said:
Fairmont is very good if you’re trying to build a set. For someone older like me who isn’t going to hold a coin for ever i have no interest spending big bucks on a coin that I may be buried in and nobody knows how many more coins are in the hoard. I don’t buy coins with the expectation of making money but I also don’t buy to lose money. If you look at most of the Fairmont resales on GC the consigners aren’t doing very well. Granted the consigners aren’t holding the coin for a long enough period of time.

I would argue a lot of the resales on GC have not been the premium coins. Most of what I’ve seen for resale has been a bit scruffy. I haven’t been able to pick up anything with great appeal for what I would consider a good price on GC.

Connecticoin

Remember, for marketing purposes it is known as the Fairmont “Collection”

ARCO

"Thousands and thousands of common date dreck", No such thing as "dreck" in gold coinage. You always get the gold value and if they are very common, just a slight numismatic premium. They are beautiful coinage as a proxy for gold bullion.

Dreck is when you have a common ugly coin with little or no metal value and a high numismatic premium. IMO.

Elcontador

I never look at pop reports. Nor provenance. Just the coin.

Downtown1974

@ARCO said:
"Thousands and thousands of common date dreck", No such thing as "dreck" in gold coinage. You always get the gold value and if they are very common, just a slight numismatic premium. They are beautiful coinage as a proxy for gold bullion.

Dreck is when you have a common ugly coin with little or no metal value and a high numismatic premium. IMO.

I agree with this. I have 1 piece from “The Fairmont Collection”, a $5 gold Liberty half-eagle. It’s an MS63+ . It is the least eye appealing coin in my collection of pre-33 gold, but like you said…no such thing as dreck gold. Love me some mint state pre-33 gold for nearly spot.