Yes, I saw the bags piled up in stacks, there was one bag of 82-S's that had some AMAZING toned pieces in it, like vibrant colors out of this world! The conditions in the basement vaults of the CB must have been ideal for toning coins. I think it's possible that the Continental Hoard may have produced some of the most killer toned dollars in existence, but they are all understandably locked away now.
<< <i>but they are all understandably locked away now. >>
I hope so. The bad thing is that they came on the market in the time frame that the white craze was going on. I am sure that many of the coins were purchased by investors who had been brainwashed by some dealers that white was the only way to go if they wanted to make a big return on their investment. As we have discussed before I sure hope a lot of these coins didn't get dipped out.
If It doesn't have great eye appeal, I don't want it.
There are mintsealed bags of dollars still 'out there' owned by collectors/investors or 'pack rats'. I am aware of at least a few bags of Continental Bank dollars that have never been opened. So just maybe there are some more special Morgans still incubating.
Dahlonega I forgot that you had told me of this when I was in Alabama at the Bessemer Show. I also remember you telling me that if you ever get your hands on one of these bags that I could be present for the opening ceremonies.
If It doesn't have great eye appeal, I don't want it.
I think the reason that these people don't sell is simply because the coin is irreplaceable. If someone does give you $20,000 for it and you decide one day that you want it back, you will probably never get it back. It's not for sale.
Remember too that there is a difference between "cost" and "opportunity cost." I agree that if these people had 10 coins that cost them $20,000 each they must be wealthy enough not to need the 200k elsewhere. But many of these people bought the coins for $2000 or so. Honestly, if you like your job, have a comfortable house/car/etc., and your family is comfortable, why *should* you sell? Now it's one thing if you have debts, or you don't like your job and want to retire early, or live in a crappy house or drive a crappy car--but if you are fine with your standard of living, what does an extra $20k or so really do for you?
NOTE: All this has been said by a college student who is in debt, so take it cum grano salis.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
I think you hit the nail on the head......the key word is OPPORTUNITY.
A couple of years ago I attended the ANA summer show in Atlanta. I had not orginally planned to be there but my travels allowed me to attend. I stumbled across the table of Andy Kimmel, with whom I'd done a fair amount of business and had met personally before......although it had been a number of years since we'd seen one another. He didn't know I was attending the show, nor did I know he'd be there.
Anyway, when Andy realized who I was he said, "I just bought these and was going to send them to you." He then pulled out a stack of about 10 of the most amazing toned dollars I'd seen in a long while. Included in the bunch was the Minneapolis Monster. I looked at each coin for about 3 seconds and said, "I'll take them all." I didn't even know his asking price because at that point, it didn't matter. This OPPORTUNITY would present itself only one time and I wasn't going to miss it.
We closed the deal and I walked away a very happy man. I've often wondered if I hadn't been there at that moment to buy the lot, if Andy may not have changed his mind and held onto one or two of the best pieces......or maybe more......or worse yet, have someone else talk him out of the entire lot.
I've been fortunate in that I can afford to buy top notch coins when I find them. The problem is, they're hard to find........like you and others have said.....at any price.
you mean to tell me that I could have gotten your Minneapolis coin before you got it! oh the joy that day would have been....................I was probably 10 years old when "the meeting" at the ANA show happened
<<I was probably 10 years old when "the meeting" at the ANA show happened>>
Yeah, that'd be about right snot nose...I took place two years ago. But don't assume that you'd have been able to buy the coins just because you beat me to his table.
As I understand the story, the coin had had only two owners from the time it was discovered in the Continental hoard. Dealer Ed Milas held the coin for many years as it was considered his favorite toned piece. He later sold it to a dealer-buddy of Andy who also held it for many years.
Andy had owned it for about 15 minutes before I walked up to his table.
With some luck, I'll live long enough to own it for many years as well.
Art....you're right....it was Roger Geary......and yes, he does come up with some great ones doesn't he? A certain monster texile pattern comes to mind.
I had a feeling it was Roger. He had a small collection of some truly great dollars he had put together over the years, and held them all for years. They have since all been sold off. At least this is what he told me the last time I talked to him.
If It doesn't have great eye appeal, I don't want it.
Little off topic, but an interesting thought. If there are still unopened bags from the Continental hoard, will the oxidation process eventually turn them all black?
Hadleydog Depending on how and under what conditions they are being stored this could very well happen. The toning process will continue, and the environment will have a lot to do whether it is slow or accelerated.
If It doesn't have great eye appeal, I don't want it.
Speaking of black, I bought an 1881-CC GSA from Bob Campbell at the ANA in Baltimore. It's as black as the insert in the holder.
I've got several other GSA's that are black as well. However, under close examination, these coins tend to show traces of green and other colors in the recesses.
Bryan: If he still has it, and you have never seen it you need to get a look at the solid Black Morgan he has in his collection. He has stated that even with all the toned Morgans he has handled and collected over the years this was still his favorite.
If It doesn't have great eye appeal, I don't want it.
Roger Geary(great guy), has had some real nice coins in the past. I've bought my share from him and also sold my share to him. Always a real gentleman. I wonder if he has procured some of his "monsters" from John Highfill, who lives in his neck of the woods and whose table he and Andy share at FUN? John has certainly had access to some of the finest Morgans over the years, toned and otherwise.
I've also had the pleasure of owning a couple of "black" Morgans, and if the luster is still present, they can be quite stunning. You can usually still see some of the graduated colors hiding underneath, from deep green to deep purple, then black or ebony. Pretty cool.
Morganluver: I don't think Highfill is very active any more. I think he lets Andy and Roger use his Oklahoma Federated Logo so the can retain there prime spot at the FUN Show.(Seniority Thing) As far as Roger getting his toned coins from Highfill, I doubt this as he was into mostly White Morgans, especially GSA's, although I'm sure that if Highfill heard of or saw a nice toned dollar Roger would have been one of the first he would pass the information onto.
If It doesn't have great eye appeal, I don't want it.
If I recall correctly, Roger told me he was a school principal in the same town where Highfill had his shop. He was always interested in coins and when he retired, he and Highfill worked together at shows and the like. I think that Roger may have even been employed by Highfill at one time.
Speaking of Highfill and the Continental Bank Hoard, I was just looking through Highfill's book which has a neat story about that hoard as told by Clark Samuelson. I knew Clark when he lived and worked in Houston. Lost his life in S. California going to look at a coin collection during a Long Beach convention. Nice guy, a real loss to the hobby.
You're right, John isn't very active any more, and I only met him once at FUN in 92 when he was kind enough to sign his book for me. I think Roger still coaches a baseball team too.
GSAguy,
I don't know about you, but I think Johns book is pretty cool. Sure, there's a lot of fluff in there, but there is also a great deal of good info(much of which is still valid today) along with some great pictures. I have two, but unfortunately, the one that John signed is the one that I've been using for more than 10 years and is therefore quite "used".
Comments
Yes, I saw the bags piled up in stacks, there was one bag of 82-S's that had some AMAZING toned pieces in it, like vibrant colors out of this world! The conditions in the basement vaults of the CB must have been ideal for toning coins. I think it's possible that the Continental Hoard may have produced some of the most killer toned dollars in existence, but they are all understandably locked away now.
dragon
<< <i>but they are all understandably locked away now. >>
I hope so. The bad thing is that they came on the market in the time frame that the white craze was going on. I am sure that many of the coins were purchased by investors who had been brainwashed by some dealers that white was the only way to go if they wanted to make a big return on their investment. As we have discussed before I sure hope a lot of these coins didn't get dipped out.
I forgot that you had told me of this when I was in Alabama at the Bessemer Show. I also remember you telling me that if you ever get your hands on one of these bags that I could be present for the opening ceremonies.
Remember too that there is a difference between "cost" and "opportunity cost." I agree that if these people had 10 coins that cost them $20,000 each they must be wealthy enough not to need the 200k elsewhere. But many of these people bought the coins for $2000 or so. Honestly, if you like your job, have a comfortable house/car/etc., and your family is comfortable, why *should* you sell? Now it's one thing if you have debts, or you don't like your job and want to retire early, or live in a crappy house or drive a crappy car--but if you are fine with your standard of living, what does an extra $20k or so really do for you?
NOTE: All this has been said by a college student who is in debt, so take it cum grano salis.
Good Post, You hit the nail on the head in my case anyway.
I think you hit the nail on the head......the key word is OPPORTUNITY.
A couple of years ago I attended the ANA summer show in Atlanta. I had not orginally planned to be there but my travels allowed me to attend. I stumbled across the table of Andy Kimmel, with whom I'd done a fair amount of business and had met personally before......although it had been a number of years since we'd seen one another. He didn't know I was attending the show, nor did I know he'd be there.
Anyway, when Andy realized who I was he said, "I just bought these and was going to send them to you." He then pulled out a stack of about 10 of the most amazing toned dollars I'd seen in a long while. Included in the bunch was the Minneapolis Monster. I looked at each coin for about 3 seconds and said, "I'll take them all." I didn't even know his asking price because at that point, it didn't matter. This OPPORTUNITY would present itself only one time and I wasn't going to miss it.
We closed the deal and I walked away a very happy man. I've often wondered if I hadn't been there at that moment to buy the lot, if Andy may not have changed his mind and held onto one or two of the best pieces......or maybe more......or worse yet, have someone else talk him out of the entire lot.
I've been fortunate in that I can afford to buy top notch coins when I find them. The problem is, they're hard to find........like you and others have said.....at any price.
GSAGUY
Yeah, that'd be about right snot nose...I took place two years ago.
GSAGUY
you MIGHT be right on the being able to buy it before you.............
As I understand the story, the coin had had only two owners from the time it was discovered in the Continental hoard. Dealer Ed Milas held the coin for many years as it was considered his favorite toned piece. He later sold it to a dealer-buddy of Andy who also held it for many years.
Andy had owned it for about 15 minutes before I walked up to his table.
With some luck, I'll live long enough to own it for many years as well.
GSAGUY
wanna go skydiving?
geez I hope no one on the boards will take that comment the wrong way......................it is a JOKE.
<< <i> He later sold it to a dealer-buddy of Andy who also held it for many years. >>
Gsaguy that dealer buddy of Andys wasn't Roger Geary by any chance was it? Roger has been known to come up with some great coins.
GSAGUY
Edited to fix my lousy spelling.
Depending on how and under what conditions they are being stored this could very well happen. The toning process will continue, and the environment will have a lot to do whether it is slow or accelerated.
I've got several other GSA's that are black as well. However, under close examination, these coins tend to show traces of green and other colors in the recesses.
Cool coins.
GSAGUY
If he still has it, and you have never seen it you need to get a look at the solid Black Morgan he has in his collection. He has stated that even with all the toned Morgans he has handled and collected over the years this was still his favorite.
I don't think Highfill is very active any more. I think he lets Andy and Roger use his Oklahoma Federated Logo so the can retain there prime spot at the FUN Show.(Seniority Thing)
As far as Roger getting his toned coins from Highfill, I doubt this as he was into mostly White Morgans, especially GSA's, although I'm sure that if Highfill heard of or saw a nice toned dollar Roger would have been one of the first he would pass the information onto.
Speaking of Highfill and the Continental Bank Hoard, I was just looking through Highfill's book which has a neat story about that hoard as told by Clark Samuelson. I knew Clark when he lived and worked in Houston. Lost his life in S. California going to look at a coin collection during a Long Beach convention. Nice guy, a real loss to the hobby.
GSAGUY
You're right, John isn't very active any more, and I only met him once at FUN in 92 when he was kind enough to sign his book for me. I think Roger still coaches a baseball team too.
GSAguy,
I don't know about you, but I think Johns book is pretty cool. Sure, there's a lot of fluff in there, but there is also a great deal of good info(much of which is still valid today) along with some great pictures. I have two, but unfortunately, the one that John signed is the one that I've been using for more than 10 years and is therefore quite "used".
There is a tremendous amount of interesting info in the book. Every time I pick it up I learn something new.
You've just got to get past all the pictures of John and his family.
GSAGUY
you are sitting on. What are you intending to do, hatch them like birds eggs?
Camelot
<< <i>What are you intending to do, hatch them like birds eggs? >>
If he is I would like first shot at one of the hatchlings.