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Hoarding is a greater problem than counterfeiting!

291fifth291fifth Posts: 24,584 ✭✭✭✭✭
No April Fool this time.

My feeling is that extensive (and I mean extensive) hoarding of key and semi-key dates, as well as high circulated grade type coins may be having the greatest negative effect on US numismatics.

These hoards, which have been built up by many, many individuals over the past 20-25 years are now having the effect of driving up prices for many not very rare (or scarce coins.) As a result of these price increases, fewer and fewer collectors are actually going to attempt completing date or type sets.

Flame away!


All glory is fleeting.

Comments

  • lathmachlathmach Posts: 4,720
    There are hoards, no question there.
    I don't believe that's the reason for the recent increase in prices though.
    I believe it's a result of several factorsthat include; A great number of new collectors due to the new U.S. coinage, the falling value of the U.S. Dollar and the desire on the part of many to put their investment monies into a medium that will hold value.
    The dramatic increase in precious metals has had an impact as well.
    Besides, I only have 700+ Seated Quarters, and I need all of them.

    Ray
  • lathmachlathmach Posts: 4,720
    By the way, did you mean that other thread as a spoof?

    Ray
  • pontiacinfpontiacinf Posts: 8,915 ✭✭
    I could care less that you do not like that fact I hoard certain dates of SLQ's and Jeffersons


    me thinks your just jazzed cause you cannot afford to do so image
    image

    Go BIG or GO HOME. ©Bill
  • DoogyDoogy Posts: 4,508
    I wouldn't say a greater problem than counterfeiting, but it certainly makes the market a bit crazy.

    You also have to factor in our weak dollar, the amount of US dollars going overseas due to us importing goods, and how our unending desire to buy cheap goods is enriching the world.

    A lot of scarce/rare US and world coins are going overseas to foreign collectors/investors. This have been happening for a few years now, and shows no sign of stopping. The more these people become wealthy industrialists, the more money they have for hobbies; and many times, their hobbies involve buying up our rare coinage and socking them away.

  • cladkingcladking Posts: 28,703 ✭✭✭✭✭
    I don't know this but suspect that this has always been typical.

    It's just human nature to sometimes focus our obscessions.
    Tempus fugit.
  • tombrtombr Posts: 863 ✭✭
    What's wrong with hoarding? The Hunt brothers made a fortune at it image
  • tombr, coinionaire extrordinaire!Respectfully, John Curlis
  • tombrtombr Posts: 863 ✭✭
    not me John image
  • STONESTONE Posts: 15,275
    Look at my sig line.

    I'm not afraid of a little hoarding!!!
  • BECOKABECOKA Posts: 16,961 ✭✭✭
    I am currently hoarding keys but I could only afford 1 and it will be a few years before I can get the second one. image
  • tombrtombr Posts: 863 ✭✭
    Stone--that's sure is a herculean task you've set for yourself. You will definitely have all the keys when you're finished. image
  • I do remember around 2 years ago...I had a nice 1896-S Barber 25c in Fine...within minutes of the start of a show a collector came by and gladly paid top $ for it...

    Once I had the cash and he had the coin in hand... with a great big image ... he said "Now I only need one more for a full roll!" image

    I do belive he was serious...

    I told him "NO wonder they are scarce..."

    There are likely many hoards...all over...always have been and always will be...
    Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free image
  • tombrtombr Posts: 863 ✭✭
    I read a story a few years ago that the decendants of the Hawiian royal family have a roll or two of unc 01-S quarters. Wouldn't that be a nice revelation.
  • dogwooddogwood Posts: 1,935 ✭✭✭✭


    << <i>I do remember around 2 years ago...I had a nice 1896-S Barber 25c in Fine...within minutes of the start of a show a collector came by and gladly paid top $ for it... >>



    First series I thought of, but I don't think anyone in their right mind is still buying G4 01-s quarters at 5k if they already have a couple that they could've had for 2k ten years ago.

    I see the 14-s, 09-o, 97-s and 13-p quarters as being the most likely candidates for mass socking.
    I will go on record as saying I would buy every decent 05-o quarter above VG10 any day of the week.
    I just can't find any. image

    For the Barber Halves there are probably more 97-s, 01-s, 04-s, 13-p, 14-p and 15-p's in VG10 to fine 15 in tight hands than anyone would care to admit.

    We're all born MS70. I'm about a Fine 15 right now.
  • droopyddroopyd Posts: 5,381 ✭✭✭
    One day, each horde will be released back into the wild.
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • sumnomsumnom Posts: 5,963 ✭✭✭


    << <i>I could care less that you do not like that fact I hoard certain dates of SLQ's and Jeffersons


    me thinks your just jazzed cause you cannot afford to do so image >>



    How much less could you care?
  • i dont know of any hoards. image

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