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The first 100 million dollar coin
sbeverly
Posts: 962 ✭✭✭
After watching the 1-28-13 David Hall's Rare Coin Market report, I wondered the following...
According to Mr. Hall, 1972 set the record for the first $100,000 dollar coin, and 1996 set the record for the first 1 million dollar coin.
It took 24 years to see a 10x increase.
Last week set the record for the first 10 million dollar coin.
It took 17 years to see a 10x increase.
Is it then possible that we will see the first 100 million dollar coin in 10 years?
I recognize that there is a substantial difference between the 2 examples, but at the rate Central Banks worldwide
are inflating the fiat, it seems possible to me.
Opinions?
Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
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Empty Nest Collection
Matt’s Mattes
This puffy tulip sculpture by American artist Jeff Koons just sold for $33 million:
These are living artists. Both pieces have been done within the last few years.
--Severian the Lame
I do not make future price predictions other than to say this: I wager that the general concensus on the prospects of the 1794's price ever reaching $10M in 1991 (when the coin sold for $500k) would be very similar to the concensus now on the prospects of its price ever reaching $100M.
<< <i>This 1993 painting by German artist Gerhard Richter just sold for $34 million:
This puffy tulip sculpture by American artist Jeff Koons just sold for $33 million:
These are living artists. Both pieces have been done within the last few years. >>
Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps.
All these high prices may be due to many people becoming very wealthy in the last 30 years with the technological age (especially the past 15 years), and them sword fighting over what they just HAVE to have. It only takes 2 bidders with boocoodles of $$$ to drive up a price to $1MILL or more.
Too many positive BST transactions with too many members to list.
I'll bet you would have said the same of the same artworks not long ago when they were worth 10% of current levels.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I can count on my fingers the total number of coin articles sent to me in my life (normally shipwreck stuff) by people but after this I have had well over a dozen and it seems to be continuing as many of those same people are now sending me articles about the Walton 1913nickel. Goes to show what happens when market maker who knows what they are doing gets involved. Even if the coin could have been bought for 8.5-9.5 mil, they have gotten so much publicity for themselves, the coin and the business that I can't think of many better ROI in the publicity game for the extra cost of breaking the 10mil ceiling.
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
What you need to happen between here and there is this - a lot more paintings selling at the $100M level, and then other collectible areas starting to hit the same mark. That paves the way for a coin to get through the gate, and if it was the most desirable coin in the whole world that would help a lot.
<< <i>If a gold Libertas surfaced w/undisputed provenance and clearance from the French government, $100M doesn't sound so crazy, now that the $10M barrier is broken. I don't think it would actually sell for $100M, but there would be a lot of speculation leading up to the event.... >>
His or hers?
<< <i>
<< <i> This puffy tulip sculpture by American artist Jeff Koons just sold for $33 million:
These are living artists. Both pieces have been done within the last few years. >>
Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps. >>
And we all thought the tulip craze ended in the 1630's. Who woudda thunk?
The rate of M2 money supply increase has gone up a notch since 1995. Therefore I'm not surprised that the rate of appreciation of great coins has been faster than in earlier periods.
<< <i>With the ever-decreasing buying power of the US Greenback, anything's possible
i would hate to think of it that way. it makes wonder what gas, food and other stuff would cost
The other paid $5.5M for 3 acres and a turn-of-the-century craftsman style home. Then leveled the place and is just now finishing his $8M estate.
I thought that was crazy money. And then I read about the incredible price paid recently for a home in Woodside, CA, several miles down the road. At $117M it is the most expensive home sold in the US.
These record purchases...art, real estate, rare coins, you name it (did you get the postcard from HA about the 5-digit handbag auctions?)...are staggering for sure. There are a lot of very, very rich people who will spend excessively for the finest, the rarest, the most luxurious, even the most expensive.
I have no problem seeing $50M or $100M spent on a coin within 20 years.
Lance.
So I guess the question is.....are any of these people interested in coins?
<< <i>With the ever-decreasing buying power of the US Greenback, anything's possible
Ain't it the truth.
Inflation hasn't been excessive since around 1980 or so but personally I think we are due for a period of high inflation within a few years.
Even if not, the constant 1-3% inflation rate eats away at our money (at least our FRNs).
<< <i>I thought that was crazy money. And then I read about the incredible price paid recently for a home in Woodside, CA, several miles down the road. At $117M it is the most expensive home sold in the US. >>
Aah, Woodside, one of the few truly weird places left on the planet where you can find a redneck shack on the same block as a $10M plus estate. I in fact once bought a used dirtbike from one of these rednecks in Woodside, and was amazed to find his house nestled amongst the uber-rich. I asked him why not sell. He said that the money wasn't as important as the land.
Empty Nest Collection
Matt’s Mattes
The Gem Brasher Dubloon from the Garett sale would probably bring over 20 million dollars today and that coin is in private hands.
Stewart
I bet my friend $100,000,000 that Pittsburgh would not go to the 2013 Superbowl, he said they would, and took my bet. I won, and he wrote me a 100 million dollar check, which I held.
Later, he mentioned that he had a coin for sale, and the price happened to be $100,000,000 exactly. So I agreed to buy the coin from him for that amount, gave him back the check and here it is, the first $100,000,000 coin!
Liberty: Parent of Science & Industry
<< <i>
<< <i>I thought that was crazy money. And then I read about the incredible price paid recently for a home in Woodside, CA, several miles down the road. At $117M it is the most expensive home sold in the US. >>
Aah, Woodside, one of the few truly weird places left on the planet where you can find a redneck shack on the same block as a $10M plus estate. I in fact once bought a used dirtbike from one of these rednecks in Woodside, and was amazed to find his house nestled amongst the uber-rich. I asked him why not sell. He said that the money wasn't as important as the land. >>
They arent making any more land,printing of money has gone wild
OK, that milestone has passed. Now, who can post the next billion dollar coin?
<< <i>Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps.
I'll bet you would have said the same of the same artworks not long ago when they were worth 10% of current levels. >>
Indeed I would have, as I am of the opinion that these works of art are not due the praise, nor the value thrust upon them. Some critics disagree with my view, while some do. I was inspired by this post to look up Jeff Koons' career "stats" and (I must admit) particularly enjoyed this screed, in wikipedia's article on him:
In an article comparing the contemporary art scene with show business, renowned critic Robert Hughes wrote that Koons is “an extreme and self-satisfied manifestation of the sanctimony that attaches to big bucks. Koons really does think he's Michelangelo and is not shy to say so. The significant thing is that there are collectors, especially in America, who believe it. He has the slimy assurance, the gross patter about transcendence through art, of a blow-dried Baptist selling swamp acres in Florida. And the result is that you can't imagine America's singularly depraved culture without him.” Hughes placed Koons's work just above that of Seward Johnson and was quoted in a New York Times article as having stated that comparing their careers was "like debating the merits of dog excrement versus cat excrement".
<< <i>I'm happy to report that I've just completed the first $100,000,000 coin purchase!
I bet my friend $100,000,000 that Pittsburgh would not go to the 2013 Superbowl, he said they would, and took my bet. I won, and he wrote me a 100 million dollar check, which I held.
Later, he mentioned that he had a coin for sale, and the price happened to be $100,000,000 exactly. So I agreed to buy the coin from him for that amount, gave him back the check and here it is, the first $100,000,000 coin!
You could have done a little haggling and saved yourself some money. You should submit this to pcgs so they can change the price guides. Good thing there was not a 20 percent buyers premi as that would have skewed the numbers.
I do not see any 100 million coins in my lifetime, i think the government is going to tax the .... out of the wealthy shortly as 98 percent of the people would not be against it.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
I think the example set by Giacometti's "Walking Man" Linky could be repeated in the coin world.
My understanding is the sculpture sold for over $100M because an extremely wealthy individual wanted the piece for 40 years AND someone who knew that was bidding against them.
There may be some ultra wealthy people who decide they have to have some rare coin and their "buddy" could be there to bid against them.
I think this scenario may happen but might not be over a U.S. coin.
Of course, factor in inflation once the economy gets going and we might all be owners of multimillion "dollar" coins.
Cheers
Further, I predict the coin he/she buys will also not be American.
So, if more ultra-wealthy people turn to coins, and think of the current values as being stupid cheap, then we'll see a rise in the high-end.
It has nothing to do with the value of the money in real terms (and inflation), it is how people value their money to what they want to buy. There is a difference. If you win the lottery, the value of the money to you is lower than the rest of us.
I predict the buyer of the first $100 million coin will not be American.
Further, I predict the coin he/she buys will also not be American.
My thoughts exactly.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>
<< <i>This 1993 painting by German artist Gerhard Richter just sold for $34 million:
This puffy tulip sculpture by American artist Jeff Koons just sold for $33 million:
These are living artists. Both pieces have been done within the last few years. >>
Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps. >>
Plus 34 million!
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>I'm happy to report that I've just completed the first $100,000,000 coin purchase!
I bet my friend $100,000,000 that Pittsburgh would not go to the 2013 Superbowl, he said they would, and took my bet. I won, and he wrote me a 100 million dollar check, which I held.
Later, he mentioned that he had a coin for sale, and the price happened to be $100,000,000 exactly. So I agreed to buy the coin from him for that amount, gave him back the check and here it is, the first $100,000,000 coin!
I hope you put aside some money to pay taxes. You know technically you owe income taxes on your 100,000,000 gambling winnings and your friend owes capital gains tax on his 999,999,999.5 profit on the coin sale. That is legaly how it works, the government always takes its cut.
Join the fight against Minnesota's unjust coin dealer tax law.
(it was 100 billion dollars)
Liberty: Parent of Science & Industry
<< <i>The Gem Brasher Dubloon from the Garett sale would probably bring over 20 million dollars today and that coin is in private hands.
Stewart >>
Is that copper?
<< <i>Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps. >>
And people in the art world think we are equally stupid ... I've asked.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
<< <i>
I predict the buyer of the first $100 million coin will not be American.
Further, I predict the coin he/she buys will also not be American.
My thoughts exactly. >>
Mine as well.
Eric
<< <i>If I was rich i wouldn't buy those modern art pieces that was posted in the thread. Plain ugly......id rather have a Monet and some other classic art. >>
If I was going to spend big bucks I would like Van Goh's Stary Night, always liked that painting.
Pruebas: <<I predict the buyer of the first $100 million coin will not be American. ...
Further, I predict the coin he/she buys will also not be American. >>
MrEureka: <<My thoughts exactly. >>
I will not make such a prediction. I just researched the top ten auction records and seven of the ten are American.
The Top Ten Auction Records for Coins & Patterns
<< <i>Pruebas: <<I predict the buyer of the first $100 million coin will not be American. ...
Further, I predict the coin he/she buys will also not be American. >>
MrEureka: <<My thoughts exactly. >>
I will not make such a prediction. I just researched the top ten auction records and seven of the ten are American. >>
Past performance is no guarantee of future results.
I think the trend of world demographics is clear.
<< <i>
<< <i>Pruebas: <<I predict the buyer of the first $100 million coin will not be American. ...
Further, I predict the coin he/she buys will also not be American. >>
MrEureka: <<My thoughts exactly. >>
I will not make such a prediction. I just researched the top ten auction records and seven of the ten are American. >>
Past performance is no guarantee of future results.
I think the trend of world demographics is clear. >>
This. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
JustaCommeMan:<<This. MJ>>
I will agree that many rarities in the realm of world coins are undervalued, from a logical perspective. Indeed, there are some great values, for collectors, in European and Latin American coins dating from the 1200s to the 1800s.
Even so, overall population and income statistics do not necessarily shed light on demands for rare coins. Coin collecting was a very popular hobby in the U.S. during the second half of the 19th century and is very popular now. In relative terms, there are really not many people in Latin American countries who collected coins in the 19th century and not that many who collect now. Further, not many high quality rarities from Latin America or Southern Europe survive. Yes, many high quality rarities from English speaking and German speaking societies survive, though there do not seem to be many people willing to spend even US$200,000 each for any of these.
It is hard to predict just how popular coin collecting will be in Europe and Latin America in the future. It is true that coin collecting is very popular in Russia and in China/Hong Kong. Only two Russian items have sold at auction for more than US$2 million each. As far as I know, a classic (pre-1949) Chinese coin has yet to do so, despite much interest in coins from wealthy Chinese over the past ten years.
The Top Ten Auction Records for Coins & Patterns
European Gold Shines in World Coin Auction
Choice, historical British Coins Auctioned in New York
Rare English Gold Sovereign of Queen Mary I
It is relevant to the topic of this thread that there seven distinct numismatic items in the Central States auction that each realized more than a million dollars, including three that realized more than two million each. All seven items are of U.S. material. Humbert was a U.S. Assayer.
[L=Million Dollar Items in Central States Auction, Part 1]http://www.coinweek.com/featured-news/coin-rarities-related-topics-million-dollar-items-lead-central-states-auction-part-1/[L]
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
<< <i>Hello,
I think the example set by Giacometti's "Walking Man" Linky could be repeated in the coin world.
My understanding is the sculpture sold for over $100M because an extremely wealthy individual wanted the piece for 40 years AND someone who knew that was bidding against them.
There may be some ultra wealthy people who decide they have to have some rare coin and their "buddy" could be there to bid against them.
I think this scenario may happen but might not be over a U.S. coin.
Of course, factor in inflation once the economy gets going and we might all be owners of multimillion "dollar" coins.
Cheers >>
OMG . . . That thing is fuggly ! ! !
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
<< <i>With the ever-decreasing buying power of the US Greenback, anything's possible
I agree.
Taylor
I am a YN and I do not want anybody to question my IQ Level! I don't know everything and came here to learn!
<<I think the example set by Giacometti's "Walking Man" Linky could be repeated in the coin world. ... My understanding is the sculpture sold for over $100M because an extremely wealthy individual wanted the piece for 40 years AND someone who knew that was bidding against them.>>
This exact sale of this sculpture is mentioned in one of my articles and the context directly relates to the topic of this thread. Please read:
UHR Saint Sells for $2.76 Million
Also, I recently wrote about the reasons why it is important to discuss million dollar numismatic items, a follow-up to an article that I cited in an earlier post to this thread.
Million Dollar Items Lead Central States Auction, Part 2