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A hypothetical question. . . .
Dentuck
Posts: 3,812 ✭✭✭
If you wanted to corner the market on 1937-D Buffalo nickels --- to own
every single surviving example of that coin --- how much money would
you have to shell out?
every single surviving example of that coin --- how much money would
you have to shell out?
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because I can't seem to find a single example in high grade..
Is it you........you already have them all, don't you?
The Whisker Cheek Collection - Top 50 Peace VAM Registry
Landmark Buffalo Collection
1)100% of the mintage is still in existence.
2) Since you are cornering the market, you will not be able to pay wholesale.
The price will increase as supply diminishes.
Therefore, assume current retail, to balance out wholesale vs retail prices, and price increases.
3) A slightly skewed grade report, since the Buffalo was withdrawn quickly after the introduction of the Jefferson nickels.
Despite a large number still being in circulation in the 1960's, higher grade pieces were pulled as they were discovered.
4) Culls are deemed to be the regular grades, since you need them, and will pay for them.
Therefore:
Grade: %'age in extant X Retail Price = Extension
G 1% $1 =$ 178,228
VG 2% $1 = $356,520
F 7% $2 = $1,247,609
VF 20% $3 = $3,564,597
XF 30% $3 = $5,347,800
AU 10% $10 = $17,826,000
Unc 10% $15= $26,739,000
MS 63 10% $27 = $30,304,200
MS 65 5% $48 = $42,782,400
Total + $128,346,354
Total mintage= #17,826,000
Less 3 leg Buffs: 3,014
Net = 17,822,986
less #1 -1 (explained later)
Net 17,822,985
3 leg buffs:
G= #500 = $287,500
VG= #500 = $337,500
F= #1,000 = $750,000
VF-XF=#1,000 - $1,000,000
Unc= #5 = $12,000
MS-63 #5 = $28,750
MS-65 #3 = $127,500
MS 66= #1 = 127,500
Total = $$2,869,500
Total = $128,346,354
Plus: 2,869,500
Total = $131,215,854
Plus (remember that 1 up above?)
Since there is only one left, it is now worth as much as a 1933 Double Eagle, so:
Total = $131,215,854
Plus: 8,000,000
Total= $139,215,854
There you have it, Dennis.
No problem, now, is it time to break out your checking account?
BHNC #203
That was some good accounting, Frank --- you're hired. I begin my market-cornering tomorrow morning.
At the end of the process, I'll melt down all of the nickels except for one, and have them cast in the shape of a gigantic Buffalo nickel replica to be displayed at the Smithsonian.
I can imagine the conversation when it comes time to sell the now-unique 1937-D:
"How much do you want for it?"
"How much are you offering?"
"I'll give you $9 million."
"No can do. I have too much in it."
Then I counter at $275 million, and we negotiate to an even $150 million. I made a profit!
Don't forget my percentage.
And the one piece that (to semi-quote Charles Heston) you have to pry out of my cold dead hands.
BHNC #203
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>At the end of the process, I'll melt down all of the nickels except for one, and have them cast in the shape of a gigantic Buffalo nickel replica to be displayed at the Smithsonian. >>
I believe this was the exact plot for an old episode of Barnaby Jones.
Coin Rarities Online
<< <i>Why would you want to do that? Why not try to corner the market on something that there are not so many of? >>
Just for the fun of it, of course.
And Dennis needs a place to spend all of his lottery winnings.
BHNC #203
BHNC #203
The boys are right I'm afraid no matter how many you have another is bound to turn up.
I am still waiting for the rest of the 1913 V nickels
Also another reason I like essai and probe (or patterns for you liteside folks) because when the mint only makes 100 or 500 copies it's a more definite figure than saying they made a million, destroyed "all" and then six or seven mysteriously survive ... impossible to say those stragglers are the only ones ...
Amat Colligendo Focum
Top 10 • FOR SALE
Steve
<< <i>Assumptions:
1)100% of the mintage is still in existence.
2) Since you are cornering the market, you will not be able to pay wholesale.
The price will increase as supply diminishes.
Therefore, assume current retail, to balance out wholesale vs retail prices, and price increases.
3) A slightly skewed grade report, since the Buffalo was withdrawn quickly after the introduction of the Jefferson nickels.
Despite a large number still being in circulation in the 1960's, higher grade pieces were pulled as they were discovered.
4) Culls are deemed to be the regular grades, since you need them, and will pay for them.
Therefore:
Grade: %'age in extant X Retail Price = Extension
G 1% $1 =$ 178,228
VG 2% $1 = $356,520
F 7% $2 = $1,247,609
VF 20% $3 = $3,564,597
XF 30% $3 = $5,347,800
AU 10% $10 = $17,826,000
Unc 10% $15= $26,739,000
MS 63 10% $27 = $30,304,200
MS 65 5% $48 = $42,782,400
Total + $128,346,354
Total mintage= #17,826,000
Less 3 leg Buffs: 3,014
Net = 17,822,986
less #1 -1 (explained later)
Net 17,822,985
3 leg buffs:
G= #500 = $287,500
VG= #500 = $337,500
F= #1,000 = $750,000
VF-XF=#1,000 - $1,000,000
Unc= #5 = $12,000
MS-63 #5 = $28,750
MS-65 #3 = $127,500
MS 66= #1 = 127,500
Total = $$2,869,500
Total = $128,346,354
Plus: 2,869,500
Total = $131,215,854
Plus (remember that 1 up above?)
Since there is only one left, it is now worth as much as a 1933 Double Eagle, so:
Total = $131,215,854
Plus: 8,000,000
Total= $139,215,854
There you have it, Dennis.
No problem, now, is it time to break out your checking account? >>
$139,215,854??? That's IT????
Off to ebay, first (ebay bucks), then to all the dealer websites, CCE, etc....Looks like I'll be busy, starting right now, playing Hunt Bros, except with '37-D Buffs, not silver (hell, won't be long till you can grab an oz of silver for the FACE value of one of those '37-D Buffs!)!
Now, do I go after the 3 leggers first, or ??? Hmmm, tough decision!
Oh, if I happen to purchase some from any of you members, please hold the check for, oh, not long..... say, Jan 1st, 2114!!
NO amount of money!!!!
bob
......I collect old stuff......
<< <i>All this talk of a hoarder cornering the market in 1909 V.D.B. Matte Proof Lincoln cents made me recall this scenario. >>
My first thought was
ONE BILLION $
Everyone can afford to do it!
My Adolph A. Weinman signature
All the recent talk about having $100 million and ten years to corner the market in 1909-S V.D.B. Lincolns made me think of this thread from 2012.
I remember this one. The computations flew way over my head, but it was an interesting topic to speculate on, all the same.