Is it possible for a collector to work with a single dealer to drive up prices of a particular serie

Longacre

There have been some posts about promoters and how they have an impact on prices of coins in a particular series. It is possible to do it the other way around where a collector works with a single dealer and slowly accumulates a vast quantity of coins in a particular series? It seems that early gold has a very low surviving population whose prices can very easily be influenced. Is this possible or am I looking into things too closely?

RKKay

Patterns can be, and have been, driven up.

UncleWiggly

Sure it's possible. I'm sure collectors do it all the time. But I'm not certain they use just one dealer.


Jerry

markglicker

Not necessarilly intentional, but a handful of coins, in a thin market, can easily drive prices.

Monstavet

I believe I remember reading about a small group of investors who tried to corner the 93-S Morgan market in the 90s...they bought a lot of the pieces then sold them off after prices went up due to decreasing availability. I am sure someone on the boards knows the details better than I do.

mr3holesinone

Yes, I believe it would be possible to affect the prices of a series; especially when the quantity of coins in the marketplace is limited. For example, I think it would be tough to affect a series when you could spend a million dollars accumulating your target and still not have a majority position, common Morgan dollars could be an example.

Iraj Sayah did this with gold commems back around 1990. The Hunt brothers manipulated the silver market. I worked for a guy who had a few hundred 1893-S Morgan dollars at one time. I think sooner or later someone will take a position and sell it on the Coin Vault or in a similar manner. Coins that could possibly be marketed are silver or gold commems, $10 Indians, CC Morgan dollars or Walker half short sets for example. I would look for a coin that can be purchased for $200 to $500 and then sold for about $1,000.

I think an individual could do this over a period of time much quieter than through a dealer. It's a very interesting idea.