What should I do?

MrEureka · July 3, 2003 11:09AM

This is NOT a hypothetical.

Today, I bought by far the finest known example of a very rare and famous coin. I have no intention of selling it for at least the next 20 years. Should I keep it secret until I'm ready to sell or should I immediately start promoting it here and everywhere else? I know that it would be fun to share it, but there's too much money on the line. I want to maximize my return. What should I do?

Placid · July 3, 2003 11:11AM

I don't think it will really matter one way or the other in 20 years.

zenny · July 3, 2003 11:12AM

<< <i> I want to maximize my return. What should I do? >>

By all means, keep it a secret.

KlectorKid · July 3, 2003 11:13AM

U should tell cause it wont really mater and i want to know so me wanting to know is more of a reason than no reason... so there.

Louis · July 3, 2003 11:14AM

I want to know what it is, so I think you should start promoting it NOW.

jbsteven · July 3, 2003 11:16AM

I agree with placid

lets hear what it is

Baley · July 3, 2003 11:17AM

share the story and picture with us now, so we can oo and ah and be envious and say nice coin.
then enjoy it privately for 19.5 years. then, a few months before you want to sell, consign it in a major auction and hype the heck out of it.

but by all means, start by showing the coin to us!

MadMarty · July 3, 2003 11:17AM

Well I guess we know where the 33 Saint went! Spill it!

TAP444 · July 3, 2003 11:17AM

Ditto to the above
what is it??

Russ · July 3, 2003 11:19AM

Andy,

Remember what you learned in Kindergaten. Sharing is good.

Russ, NCNE

MrEureka · July 3, 2003 11:19AM

I can see I came to the wrong place for honest advice!

Bear · July 3, 2003 11:23AM

The way to maximize the value of anything is to publicize it. Pictures, how was it purchased

where can it be seen. Then there is the great tradition of shairing the majesty and glory

of a rare and beautiful coin with the coin fraternity. Life is uncertain at best, if secrecy is the thing

to do, then throw the coin in the lake, as was Excaliber. Perhaps the Lady of the Lake will take the

coin off to Coinalot and king ArtR.

cladking · July 3, 2003 11:45AM

You can't start hyping anything too early. *

Besides we do want to know.

*(this may well be equivalent to the statement that, "you can't put too much water on a nuclear reactor.")

ksteelheader · July 3, 2003 11:56AM

We all can keep secrets. Show some pics..............Ken

braddick · July 3, 2003 11:59AM

<< <i>This is NOT a hypothetical. Today, I bought by far the finest known example of a very rare and famous coin. I have no intention of selling it for at least the next 20 years. Should I keep it secret until I'm ready to sell or should I immediately start promoting it here and everywhere else? I know that it would be fun to share it, but there's too much money on the line. I want to maximize my return. What should I do? >>

Start promoting it now! Congratulations too, by the way. Don't let anyone tell you 1950-D Jefferson's in VG08 are easy.

Nic · July 3, 2003 12:06PM

Define return. Cash?....hype it and sell it soon... do the same again many more times in 20yrs. Pride of ownership for 20yrs. ?.... look at it often and share a little or alot as you wish. K

nickel · July 3, 2003 12:12PM

to show off , publicize

if its rare today , twill be rare in 20 !

why invite offers and headaches ?

keep em guessing , sell when you want

shylock · July 3, 2003 12:13PM

It's too late to keep it secret because you've tipped us, and we'll hound you until you can't take it anymore!

I really hate the idea of great coins not being shared. Some of us won't live long enough to see the MrEureka Sale in 20 years (hopefully you will).

parkave · July 3, 2003 12:15PM

Andy,

Some of the finest art in the world is hidden away, only to be admired by the owner. We are talking hundreds of millions for a single work of art. I see no reason why you should'nt sock this treasure away and enjoy the pride of ownership for yourself for the next two decades.

To quote a famous movie line "MY PRECIOUS" can be your little secret for as long as you can stand it!

onlyroosies · July 3, 2003 12:48PM

Andy, I was waiting for an escrow to close on some property I sold to pick that beauty up.
I guess it doesn't matter now. Thats one dime I've always wanted to own.

STEWARTBLAYNUMIS · July 3, 2003 12:56PM

Andy

You should entrust it to Dell Parker and I guarantee you will not see it again for at least twenty years.

Stewart

MrEureka · July 3, 2003 1:02PM

You should entrust it to Dell Parker and I guarantee you will not see it again for at least twenty years.

STEWART - Why do you say that?

ms70 · July 3, 2003 1:14PM

c'mon, c'mon, COME ON!!!! You got me overly curious! Spill it!!!

I'm so excited with anticipation I had to edit for spelling!

itsnotjustme · July 3, 2003 1:18PM

I'm certain... you should tell us NOW!

MrEureka · July 3, 2003 1:21PM

I think this one will need to go into hiding, but I'll probably show off some other stuff in a couple of weeks. I'm expecting some interesting things in the mail...

foodude · July 3, 2003 1:50PM

If you don't want any one to know you own this coin, fine. I don't see how owning it, rare or not, obligates you tell the world that you own it. If you want to hype it fine. Iif you don't, that fine too. However, if you keep it from public view for 20 years, that would be sad, and deprive a great many collectors from having the opportunity to at least view it from time to time. There is no obligation that you arrange (anonymously of course) to have the coin on display from time to time, but …

I have been fortunate to have viewed, and in some cases even hold (and I think that was beyond being generous) four 1804 dollars (two at the Smithsonian, the Dexter example, and the one in the King Of Siam set; the latter is the one I held) and two 1913 V-nickels (one at the Smithsonian and the one Legend now owns, although when I saw, and held it, the coin was owned by someone else). I likely will never own such a coin, but was thrilled to be able to see them.

To the owners of, or in the case of the two in museums, those entrusted to care for, four of the 1913 V-nickels, thanks for arranging to have them on display in Baltimore.

MrEureka · July 3, 2003 1:57PM

However, if you keep it from public view for 20 years, that would be sad, and deprive a great many collectors from having the opportunity to at least view it from time to time.

True. Then again, think about the missing 13 nickel. When it resurfaces, the excitement of rediscovery could easily outweigh the benefits that could have been realized if the coin had always been available for viewing.

Wolfy00002 · July 3, 2003 2:04PM

I honestly think that if you show that the coin exists a few times (don't hang it on your wall, or drive around with a bumper sticker about it), then stick it away, then show it in a few years, then stick it away....etc..... that the hype would be more to build, and the interest would be greater. Take for instance the 5th 1913 "V"....everyone knows it exists. Few have seen it, but it has been seen. The stories have been told, some maybe true, most probably aren't, but think about the the hype that has been given. It is tremendous. How often do you hear about a (not to offend anyone) "silly coin" making headline news all over the country, because people want to know where it's at? That's my opinion.

Now my real motive........

Just show us the damn coin, it's driving me nuts. I don't wanna touch it, or taste it, I just wanna see it..........................well, I might like to smell it, but I wanna see it first.

-David

foodude · July 3, 2003 2:27PM

True. Then again, think about the missing 13 nickel. When it resurfaces, the excitement of rediscovery could easily outweigh the benefits that could have been realized if the coin had always been available for viewing.

I agree that when (I'm optimistic) it resurfaces there will be lot of excitement. I'm not sure the fact that it has been missing for 40 years or so will necessarily generate more money for the coin, as there are two others in private hands that having been trading periodically. That is, there have been others available.

However, the wide spread publicity, including to the general public, that will follow the resurfacing of the 5th 1913 V-nickel couldlead to a larger number potential, competitive buyers, which in turn could lead to a higher selling price. If the nickel had not been missing for so long, the level of excitement and publicity would be significantly less. So maybe there are advantages to keeping the whole thing a secret. I still hope you error on the side of showing it from time to time.

stujoe · July 3, 2003 2:32PM

Is it the only one? Unique? No others? None? Zip?

If it isn't, I'd still like to see it but I think I can wait 20 years.

Coppernicus · July 3, 2003 2:45PM

Let me get this straight - You want to hold it for 20 years but you also want to know what it's worth now as a resale? Isn't this a contradiction? If you're going to hold it for 20 years (or more), post a pic, we'll estimate a value, and so what?

Either this is a collector coin or an investment coin - I don't think it can be both at the same time...

Mike

joejeweler · July 3, 2003 2:56PM

andy.....Andy......ANDY.........(as Arnold might say as in the Saturday Night Live impersonater skit) "hear me noww and believe me lator".....

..........no fair on the tease and not deliver routine! If you wanted to keep it secret then you blew it 'cause you leaked the necessary info! All we now need are details, man, DETAILS!!!

I got this enough back in 1974 thru 1977, when i met my soon to be wife. For 2 1/2 years we had chaperone's with us everywhere we went! Drove me nuts but the "goods" were protected. Worth the wait for sure, but i ain't waiting another freekin 20 years to find out what you gotts! Hell, i might be dead by then and that would really piss me off! I'll haunt you, i tell ya!

So.........take a deep breath and ease into it, man...........like i did. Spill your guts or we'll wring it outa you at Baltimore! You can run......but you can't hide!

MrEureka · July 4, 2003 2:14AM

Is it the only one? Unique? No others? None? Zip? If it isn't, I'd still like to see it but I think I can wait 20 years.

Stujoe - There are probably another 15 in existence, a fair number of those in museums. If it were unique, I would publicize the coin immediately.

Either this is a collector coin or an investment coin - I don't think it can be both at the same time...

Mike - Well, my intention is to collect it for 20 years and then sell it for a big profit. Call the coin whatever you will. For all it's worth, I don't think that ANY coin should be called an "investment coin" or a "collector coin". They're just coins. The real question is, am I a coin collector or a coin investor? As far as I'm concerned, I'm both.

Gemini · July 4, 2003 3:27AM

In 20 years I probably wont remember who I am so you might as well tell me now....

keets · July 4, 2003 3:43AM

hey Andy

i'm worried for you cause now you have to strikes against you, you're a dealer and an investor!!! one more strike and you are banished.....................

BTW, here are my two ultra-low-pop-hide-away's. i'm going to take them to Baltimore and see if ANACS will holder them. if not. i think i'll see if i can get Capital Plastics to make a custom holder for these tow, two medals that go along with the group and two unstamped Clevelands. it should make a nice display.

tell us what your coin is. inquiring minds want to know.

al h.

ms70 · July 4, 2003 4:22AM

He's pullin' our legs. This is a fantasy coin!

LanLord · July 4, 2003 4:30AM

I'll answer the question that everyone is asking.

Andy now owns the finest known 1894s Barber dime.

congrats Andy, hope I didn't spill your secret

MrEureka · July 4, 2003 6:43AM

Andy now owns the finest known 1894s Barber dime.

Maybe, maybe not, but I sure as schitt wouldn't put a seven figure coin away for 20 years as an investment. For a 10% compounded return (which, by the way, I would not be satisfied with), the coin would need to be worth $7.25 million in 20 years. The odds of getting that sort of return are better with cheaper coins.

Coulport · July 4, 2003 6:49AM

Yawn.

Are we there yet?

SethChandler · July 4, 2003 9:39AM

OK- I'll take a shot as to what the coin is.........it seems like the obvious choice because there were so many hints is you bought the Charles French speciman of the 1894-S Dime, PCGS PF66........but there are not that many specimans in museums(if any)

What do I really think?.....you bought a Brasher Doubloon....I think the finest known is the MS63 from the Garrett sale 1980, EB punchmark on wing. Am I close?

Whatever the coin is.....you have a responsibility to display the coin to collectors. You will never always own it, but you are merely a caretaker for the next generation.

Like you said, its never REALLY about investment, so why keep the coin quiet in order to maximize the long term profit? Andy, think about all the satisfaction that you have received by looking at other great coins that were never for sale. That raw enthusiasum is what helped propel you into a successful numismatic career. Remember how JJP, would walk right up to you at a coin show with a $50,000 rarity in his old 2x2 stapled holder....just to SHARE with YOU. That's cool, that's what its all about. So when you are "ready",share the coin.

Seth

ER · July 4, 2003 9:44AM

Andy,
It 's OK to announce that 1933 Saint.

fcloud · July 4, 2003 9:55AM

Andy,

Congrats on whatever it is. I'm with most here. Do what you need to do, but having a rare beauty and hiding it away would really be a shame.

ER · July 4, 2003 10:07AM

<< <i>I can see I came to the wrong place for honest advice! >>

Is there a right place?

MrEureka · July 4, 2003 10:16AM

Is there a right place?

There are many.

eminem · July 4, 2003 10:16AM

Why would anyone announce that they have something to not let you know what it is??? Oh yeah well fair is fair....I have a pop 1 coin....care to guess what it is???

MrEureka · July 4, 2003 10:20AM

Why would anyone announce that they have something to not let you know what it is??? Oh yeah well fair is fair....I have a pop 1 coin....care to guess what it is???

Based on your comments, I'll guess that it's a 1963 PR 70 DCAM Lincoln cent. Am I right?

eagle7 · July 4, 2003 10:23AM

I would announce it now. Unfortunately, we dont know if we will still be alive tomorrow. Why deal with unknowns in a matter of this type.

Coinosaurus · July 4, 2003 10:47AM

This is like a bunch of kids where one goes "I've got a secret", and then the game starts. The word "puerile" comes to mind.

Let's just all hound Eureka until he 'fesses up

roadrunner · July 4, 2003 11:10AM

I'll take counterpoint on this one. I'd keep it secret from the standpoint of maximizing your gains. Sometimes, increasing the familiarity of something will give potential future owners the idea that the piece is available. Keeping things secret allows people to wonder where they all went to. Buyers love to buy something that pops up out of the blue from a 10-20 yr. slumber...not something that has been shown around frequently over a 10 year stretch.
Coins that get shown show after show tend to lose some luster and prestige......except for the ultra rarities.

roadrunner

joejeweler · July 4, 2003 11:43AM

OK Andy......my "you can run but you can't hide" rouse didn't work! How about some old fashioned begging and pleading? PLEASE......pretty PLEASE?

Awe hell......Andy, i'm a man not currently accustomed to groveling.......as i've been divorced a few years and was separated about 10 years before that. So i'm sorta out of practice!

.......but if you have an ounce of deciency in you, man........give it up!
Sharing is a large part of the enjoyment of owning ANYTHING worth owning. This i know for a fact......for the sweetness lingers oh so much longer along with the savory sense of accomplishment, when put before appreciative eyes. So much more satisfying!

.......boy, an i getting tired of this slithering on the ground technique..........what's it gonna cost us to find out what ya got?

MrEureka · July 4, 2003 12:13PM

.......but if you have an ounce of deciency in you, man........give it up!

That's a losing stategy, Joe. You forget that I'm also a dealer.

Seriously, I started the thread because I thought it was an interesting subject. I had no desire to torment anyone, although I must admit I'm beginning to develop a taste for it.

What should I do?

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