Has anyone ever pooled their money with others to make a purchase?

Longacre

Just curious if anyone on the forum (for purely investment purposes) ever pooled their money with others in order to purchase a coin or coins that would normally be out of their individual reach (and then sold the coin at a profit later (or a loss)? It seems clear that the true rarities are the coins that go up the most in value, so I am wondering if anyone has ever done this? I know that investment funds on Wall Street have done this in the past (to disasterous effects because of all the publicity behind it, and the fact that they were not collectors and did not know the market). Anyone ever try this?

I was also thinking about some sort of futures market for coins, but I don't think it will work because each coin is unique. I assume that it could be done for a basket of coins that are readily available that can be purchased rather easily at a future time, but with truly rare coins it may not be possible. Just a thought.

DHeath

Yes, several times, and not just for expensive items either. One of the deals last year was with a friend to split mint sets. I wanted 100 (50 each) Sacs and preferred mint set quality to that of rolls. I partnered with a Jeff collector and we bought the sets. He also found buyers for the other series. We all did pretty well.

291fifth

I've heard of it being done. A bad idea, in my opinion. There were also some coin "mutual funds" active during the late 70's and thru the 80's. I believe the first one did well but the later ones did not.