Redfield Morgans

ddbird

I think thats what they are called...the ones that are all graded MS65 that normally have pretty cool toning. My locacl dealer has one that the morgan is easy 64+, and pretty toning for about $90. Do these carry any premium, I thought I remeber someone offering alot for one. Was he just desperate, or are they actually sought after? Thanks

airplanenut

I don't know exactly what premium they get--I think it was stman that wanted one... but I think he wanted really strong target toning. Many of them are nice, but don't have a ton of color.

Jeremy

ddbird

This one has a pretty vivid stip about 19/20 of the way around...cept a small section. Im thinking about gettin it, and sitting on it and seeing if it ever finishes toning for me. Its a pretty attractive coin.

magikbilly

I remember the Lavere Redfield (I think that was his name) hoard. I guess I aint young anymore If I recall he had tons and tons of mint bags just thrown in a basement - lots of CC coins that had quite an impact on certain dates? Was this the same hoard? I think he might have been a little odd as well.

Billy

stman

<< <i>--I think it was stman that wanted one... but I think he wanted really strong target toning. >>



That be me. Yes I even had a heads up on the BST for a nice obverse target toned Redfield piece. With the vibrant blue
which is a tough one but they are out there. Desperate? LMAO, no but I indeed would pay strong for the right one.
Because I'd need to pay strong for the one I want.... to own it.

stman

Just be sure the one you are thinking about says 'Redfield Collection" on the holder and is not just a regular Paramount holder.

ibmichaud

I have a Redfield Coin.....It doesnt look toned to me. The holder has a crack in it too

100proof1957

Seems Wayne Miller wrote a book about the redfield hoard or maybe it was just the Miller Book on Morgans

Redfield was a KOOK ! bought bags and bags of Morgs,had em delivered in the coal chute to his basement.

Think he had about 8 million bucks at face in Morgs !

Louis

Four Hundred bags of United States Silver Dollars! Just the thought of it is enough to make the most jaded Dollar collector's heart flutter. Yet, the person who owned this unbelievable hoard of coins was not a Coin Collector. LaVere Redfield was a rather eccentric investor who resided in Reno, Nevada. Having made his fortune through shrewd stock and real estate investments, Redfield began his accumulation of Silver Dollar Coins. He had an intense distrust for paper money and quickly converted his cash into "hard assets". In addition to his coin holdings, he owned thousands of acres of property in and around Reno.
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Redfield obtained his Dollars at face value anywhere he could find them. At this time, Silver Dollars could be easily acquired at any bank. Not surprisingly, a great number of the bags he had were "S" mint Dollars. Just imagine, Bags of Uncirculated 1886-S, 1888-S, 1889-S, 1895-S, and 1896-S Dollars. Redfield did not seem to take any special precautions about storing his loot. It seems that he just threw the bags into the basement. He was known to sell some of the bags to Coin Dealers but only after he got the price he wanted. He apparently also hoarded food, especially cases of peaches. Some of these cases leaked so if you ever see a Silver Dollar that has what looks like peach stains, it could very well be one of the Redfield Hoard.
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When LaVere Redfield died in 1974, he left, in addition to his Dollars an estate valued at approximately $100 million. His Silver Dollar Hoard was purchased by Steve Markoff of A-Mark Coin Company in 1976 for the then astounding price of $7.3 million.

magikbilly

Hi,
thanks for reminding me of the date - now I feel even older

Billy

PS - at least my memory still works - that is the guy I was talking about - only "S" mints not "CC". Why would I not think of "S" Morgans?

morgannut2

You can read the whole story in the Morgan Encyclopedia by VAM. Yes they carry a premium in the correct holder and you should buy the dealer's coin unless its unattractive. Make sure the holder says Paramount as well as Redfield on it and have the bill of sale say so.

Conder101

Another bit of trivia about the hoard. It would have been even larger but Redfield had a burglery a year or two before he died and they got away with about 100 bags of dollars. His dollars were hidden behind a false wall in the cellar with a note not to let the tax man know about them. Unfortunately they were discovered BY a tax agent.

The dollars were sold in a sealed bid courtroom auction between A-Mark, Bowers & Ruddy, and a third firm whose name I can't recall. The 7.3 million was the largest numismatic sale in history to that time. It might have goon even higher but A-Mark was the only bidder that actually knew what was in the hoard. They had done the itemized inventory for the court which was NOT made available to the other bidders.

Redfield dollars come in:

Black holders with no grade
Black holders graded MS-60
Red holders graded MS-65
Green holders graded MS-65plus

Non Redfield Paramount holders exist of the last three varieties, plus a second variety of the MS-65 holder, a black holder with the grade altered using blue labeling tape to read MS-63, and a red holder with the grade altered using red labeling tape to read MS-67. A total of ten different varieties, 4 Redfield, 6 Paramont.

Bear

The coins were run thru counting machines and many,

otherwise beautiful coins ,were marked up and scuffed.