EMO Collection Part II
pruebas
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Anyone have any comments or wins in the Emilio Ortiz Collection today at Stacks?
I think Mexican rarities, both absolute and grade rarities, have hit quadruple-insane levels. Can this be sustained?
Ecuador was quite hot as well.
I exited after Mexico because I was so exhausted bidding, so missed Peru and afterward.
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I tuned in just in time to see the 1838 Zacatecas cuartillo pattern from Soho - wow!
I don’t believe that piece is a Soho Mint product.
One of these days I’ll write an article refuting that erroneous conclusion in the book that claimed it is.
But I bought that lot. Ugh!
Can you share with us some of those sales?
I would think it does not take to many new Mexico or Latin American coin collectors to push things up. Only takes a few to understand truly how rare these coins are compared to US coins. I cannot imagine if there was even say 50-100 new collectors that seriously collect what we collect. Prices would be crazy.
While I've been collecting US issue stuff for a number of years, my Latin pursuits are relatively new. So my perspective on the auction is rooted in comps I did from past archived auctions. Based on that, it felt like prices were crazy high. Some items were 10X the comps I found, granted the comps dated back close to 20 years in some instances. Makes me ponder if I am too late to the party on some of my intended pursuits into Latin stuff...
Do you mind me asking what series you collect or intended to collect? Just trying to see what area (series) sold for so much in this auction.
Is it patterns you are referring to Pruebas? Or other areas as well that went crazy price wise?
@PillarDollarCollector "Do you mind me asking what series you collect or intended to collect? Just trying to see what area (series) sold for so much in this auction."
Primarily Peru-
Welcome to the crazy world of Latin American numismatics!
I have been thinking about this very thing lately.
All Latin American coins have been doing very well in the last 5 years. And while I cannot speak to all of the countries in Latin America, Mexico in particular has a heavy domestic demand that shows little sign of decreasing.
Generally speaking, demand for uber-graded coins comes mostly from the US and to a lesser extent Europe and Asia. Demand for AU-MS non-uber-graded coins comes from domestic Mexican and US collectors dabbling in Mexico. And demand for F-XF coins, along with AU-MS details coins comes mainly from domestic Mexican collectors, or if the coin is a variety, from specialist variety collectors (mostly US).
Part II of the EMO Collection that sold Monday was only Latin American Republic 1/4 R coins (aka cuartillas).
Anything "better" (i.e. rare, high-grade, or special in some way) sold for crazy money.
@pruebas
_Welcome to the crazy world of Latin American numismatics!
I have been thinking about this very thing lately. All Latin American coins have been doing very well in the last 5 years. And while I cannot speak to all of the countries in Latin America, Mexico in particular has a heavy domestic demand that shows little sign of decreasing.
Generally speaking, demand for uber-graded coins comes mostly from the US and to a lesser extent Europe and Asia. Demand for AU-MS non-uber-graded coins comes from domestic Mexican and US collectors dabbling in Mexico. And demand for F-XF coins, along with AU-MS details coins comes mainly from domestic Mexican collectors, or if the coin is a variety, from specialist variety collectors (mostly US)._
It is a crazy world for sure. I've figured that the changing demographics in US has had something to do with it.
This is a popular misconception that has mostly proven untrue. Dealers in the 1970s conjectured that Mexican coins would increase in value as Mexicans migrated to the US and "became rich." Well, given the state of income inequality (which I will not get into), most folks don't "become rich" in the US any longer, particularly middle class folks.
But the popularity of Mexican coins has happened in another surprising way. You've undoubtedly heard that "Mexico is the new China." That's not just a saying, but very true. Many entrepreneurs in Mexico are getting quite wealthy due to the repatriation of manufacturing from Asia and the move to near shore. After all, the US is just a short drive from Mexico. And, like China before it, there is little place to park wealth in Mexico and little reason to keep said wealth in Pesos.
So here we are. After 50 years of wishcasting, its finally come true. (Some) Mexicans are becoming wealthy and are buying their own coins!
@pruebas - well if one is going to go through life with a misconception, best that it be one of the popular ones
Actually the latest I see/hear is pursuits to make South America the new China at least in my line of work. In any case, I'm still wrapping my head around some of the prices.