Barring some type of insane hyperinflation or massive revaluation of the worlds currencies, a $100M rare coin sale or anything even close is nowhere on the horizon IMO, not even the distant horizon.
<< <i>Barring some type of insane hyperinflation or massive revaluation of the worlds currencies, a $10M rare coin sale or anything even close is nowhere on the horizon IMO, not even the distant horizon. >>
The first 100 million dollar coin will not be bought by a guy for his personal collection, IMO a musem or foundation will be the buyer. It is easier to spend others money than your own.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
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. >>
Well, I'll wager the wealthy are gonna do just fine. They may buy coins, but the trend is that the stupid 98% don't even realize that they consistently seal their own doom. The 2% are on their way to eating the 98%. After their useful purpose is met.
PennyAnnie: <<The first 100 million dollar coin will not be bought by a guy for his personal collection, IMO a musem or foundation will be the buyer. It is easier to spend others money than your own. >>
Although PennAnnie may be right, I think otherwise. A representative or an executive of a museum or of a private foundation generally has to justify expenditures and may be grilled by a board of trustees or directors. An individual who has several billion dollars, in contrast, may easily spend $100m on a single object without explaining his purchase to anyone. Such an individual could probably make a decision in an instant. Persuading a board of trustees that a particular coin should be obtained for $100m would be a whole different matter. My impression is that, when paintings sell for more than $25m each, the buyers are usually individuals, though they may use individually controlled trust funds, corporations or foundations for tax or liability reasons.
In any event, the recent sale of multple million dollar items in one auction event is certainly relevant to this thread. A coin sold for more than $3m; two paper money items sold for more than $2m each. More importantly, there were a lot of bidders for such items.
Comments
<< <i>Simply living proof, that people/trusts with too much money to spend are quite as dumb as stumps. >>
<< <i>Barring some type of insane hyperinflation or massive revaluation of the worlds currencies, a $10M rare coin sale or anything even close is nowhere on the horizon IMO, not even the distant horizon. >>
Joe Collector, 1995
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
That would make news headlines
Liberty: Parent of Science & Industry
I give away money. I collect money.
I don’t love money . I do love the Lord God.
5% annual loss of investment interest-500K
1 to 2 % insurance-100-200K
After 10 year hold, looks like it would have cost another 7 million
But since it will go for 30mil in 20 years, I guess that's okay.
<< <i>
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. >>
Well, I'll wager the wealthy are gonna do just fine. They may buy coins, but the trend is that the stupid 98% don't even realize that they consistently seal their own doom. The 2% are on their way to eating the 98%. After their useful purpose is met.
But then I'm an optimist.
PennyAnnie: <<The first 100 million dollar coin will not be bought by a guy for his personal collection, IMO a musem or foundation will be the buyer. It is easier to spend others money than your own. >>
Although PennAnnie may be right, I think otherwise. A representative or an executive of a museum or of a private foundation generally has to justify expenditures and may be grilled by a board of trustees or directors. An individual who has several billion dollars, in contrast, may easily spend $100m on a single object without explaining his purchase to anyone. Such an individual could probably make a decision in an instant. Persuading a board of trustees that a particular coin should be obtained for $100m would be a whole different matter. My impression is that, when paintings sell for more than $25m each, the buyers are usually individuals, though they may use individually controlled trust funds, corporations or foundations for tax or liability reasons.
In any event, the recent sale of multple million dollar items in one auction event is certainly relevant to this thread. A coin sold for more than $3m; two paper money items sold for more than $2m each. More importantly, there were a lot of bidders for such items.
Million Dollar Items Lead Central States Auction, Part 2
Million Dollar Items in Central States Auction, Part 1
Cardinal Collection Results, Part 1: 1792 to 1794
oddly enough the dollar is not too bad I can think of worse
Coins for Sale: Both Graded and Ungraded
https://photos.app.goo.gl/oqym2YtcS7ZAZ73D6