Wow - we got some jaded and cynical posters on this thread
I still don't see where these are Stack's rejects. I am not saying they are not, but what makes everyone so cynical regarding this hoard? Like I said before, I would love to look through the bag of "junk silver" bust halves and pull out all I want for melt.
<< <i>Wow - we got some jaded and cynical posters on this thread
I still don't see where these are Stack's rejects. I am not saying they are not, but what makes everyone so cynical regarding this hoard? Like I said before, I would love to look through the bag of "junk silver" bust halves and pull out all I want for melt. >>
Obviously the images will highlight the better crap and not the common stuff. If you think there is even anything near a considerable amount of rare coinage in this "hoard" by percentage, you're off your rocker. Lumping in other stuff they've bought with the likely 950k+ commons gives them free publicity. >>
I collect common coins as well as a few rare coins so this type of hoard seems really cool to me just based on the sheer size alone. It reminds me of that guy who posted here a few years ago with all the wheat cents in his garage in the garbage cans. It just fascinates me how and why people collect the way they do.
If these coins are the rejects of Stacks over the years, they need to take a course in Finance. They could have sold the bulk silver much higher a few years ago when silver was close to $50 an ounce. In addition, to leave $10 -20 million tied up in junk coins in their basement for years to only sell when the silver price is so low seems absurd to me. I think this collection was bought from a collector but I may be wrong. Why would Stacks wait till $20 an ounce to sell this stuff. Just doesn't add up to me.
Stacks currently has a Collectors Choice auction closing friday with over 200,000 silver half dollars -roughly a quarter Walking Liberty and the rest Franklins in 28 lots
I am not sure if these are part of the mentioned hoard, or just another accumulation - not really sure as viewing for these are in CA office. - even though they call it an auction - it seems more like sealed bid offers thay may accept, reading their terms (read them twice as they are not the usual) -- although in the past Collectors Choice auctions I have seen, it seems most, if not all have sold
an example is Lot 50018. Lot of approximately (16,040) 1951 Circulated Franklin Half Dollars. Housed in plastic tubes.
I am not sure where the Stack's Street collection came from, but I doubt it will have much if any effect on the market
<< <i>Stacks currently has a Collectors Choice auction closing friday with over 200,000 silver half dollars -roughly a quarter Walking Liberty and the rest Franklins in 28 lots
I am not sure if these are part of the mentioned hoard, or just another accumulation - not really sure as viewing for these are in CA office. - even though they call it an auction - it seems more like sealed bid offers thay may accept, reading their terms (read them twice as they are not the usual) -- although in the past Collectors Choice auctions I have seen, it seems most, if not all have sold
an example is Lot 50018. Lot of approximately (16,040) 1951 Circulated Franklin Half Dollars. Housed in plastic tubes.
I am not sure where the Stack's Street collection came from, but I doubt it will have much if any effect on the market >>
Does anyone even collect circulated Franklin Half dollars anymore? This lot sounds like nothing more than a bunch of silver for investors.
This is more of a stock market question than coin question, but will PCGS be grading these 1M coins? Or at least a good part of them? I would figure Stacks would send them to PCGS and NGC, probably not all, but maybe 100,000 of them. That can have a material effect on the company
One piece of stock market news with this release is that Stacks is being split out from Spectrum and becoming a private company. Shareholders were given 65c/share for the Stacks portion which is being taken private. This is roughly a valuation of $20M. Now we get news that in their basement they had this hoard worth $15M-$20M or essentially what shareholders were paid. So Stacks, Spectrum coin, Teletrade had no value and the entire worth was these coins? I think someone got hosed here.
<< <i>One piece of stock market news with this release is that Stacks is being split out from Spectrum and becoming a private company. Shareholders were given 65c/share for the Stacks portion which is being taken private. This is roughly a valuation of $20M. Now we get news that in their basement they had this hoard worth $15M-$20M or essentially what shareholders were paid. So Stacks, Spectrum coin, Teletrade had no value and the entire worth was these coins? I think someone got hosed here. >>
I don't know the specifics of the hoard but Stacks probably has liabilities on its balance sheet off setting the full value of these assets. In other words, Stacks could have borrowed $14M to buy these $15M of coins. The net value on its books could be $1M or less.
I still don't see where everyone is getting that these were just sitting in their basement versus buying them outright from a collector or dealer. If I was a shareholder, I would be asking that question on the phone today with all the negative publicity the coins are getting in this thread
<< <i>One piece of stock market news with this release is that Stacks is being split out from Spectrum and becoming a private company. Shareholders were given 65c/share for the Stacks portion which is being taken private. This is roughly a valuation of $20M. Now we get news that in their basement they had this hoard worth $15M-$20M or essentially what shareholders were paid. So Stacks, Spectrum coin, Teletrade had no value and the entire worth was these coins? I think someone got hosed here. >>
<< <i>1 million coins, total value between 15 and 20 million... can you say junk silver? So Stacks has a pile of junk silver they just hired or reassigned some people to search for better coins and pull out, great. >>
That was my first reaction.
A million coins worth $15-20 million? And they have yet to be searched but are guessing about total value? Sounds like lots of bags of circulated junk.
If the team examined and logged and filed each coin at the rate of one every minute that would take a million minutes. 8 hour days, 5 days a week, 52 weeks a year...it would take more than 8 years.
<< <i>Until we hear otherwise, I will assume there will not be that many coins valued at $1000 or more each. >>
If Collecting a coin that is so common that its owner shoved it into a burlap sack with 1,000, 2,000 or 5,000 other similar coins and threw the sack in some dark basement, whose sacks are measured in tons, if that excites a collector then go for it.
It doesn't excite me in the least. I enjoy the hunt for coins that are relatively difficult to find.
Sometimes, in the newspaper or magazine, you'll see an ad for a "released hoard" or some such junk... order now to avoid disappointment and future regret!
Now that some of this "hoard" has been released for sale for a few months I wanted to resurrect this thread to see what people have thought of the quality of what's been offered so far.
Maybe it's just me, but I'm seeing A LOT of coins with active PVC inside the NGC holders. Lots of gray haze and bright green spots that have been left untreated. I'm curious why S-B and/or NGC didn't address these problems BEFORE slabbing the affected coins.
I also wonder if anyone else has noticed the same thing.
My current coin collecting interests are: (1) British coins 1838-1970 in XF-AU-UNC, (2) silver type coins in XF-AU with that classic medium gray coloration and exceptional eye appeal.
Comments
Coin Rarities Online
I still don't see where these are Stack's rejects. I am not saying they are not, but what makes everyone so cynical regarding this hoard? Like I said before, I would love to look through the bag of "junk silver" bust halves and pull out all I want for melt.
<< <i>
<< <i>Wow - we got some jaded and cynical posters on this thread
I still don't see where these are Stack's rejects. I am not saying they are not, but what makes everyone so cynical regarding this hoard? Like I said before, I would love to look through the bag of "junk silver" bust halves and pull out all I want for melt. >>
Obviously the images will highlight the better crap and not the common stuff. If you think there is even anything near a considerable amount of rare coinage in this "hoard" by percentage, you're off your rocker. Lumping in other stuff they've bought with the likely 950k+ commons gives them free publicity. >>
I collect common coins as well as a few rare coins so this type of hoard seems really cool to me just based on the sheer size alone. It reminds me of that guy who posted here a few years ago with all the wheat cents in his garage in the garbage cans. It just fascinates me how and why people collect the way they do.
If these coins are the rejects of Stacks over the years, they need to take a course in Finance. They could have sold the bulk silver much higher a few years ago when silver was close to $50 an ounce. In addition, to leave $10 -20 million tied up in junk coins in their basement for years to only sell when the silver price is so low seems absurd to me. I think this collection was bought from a collector but I may be wrong. Why would Stacks wait till $20 an ounce to sell this stuff. Just doesn't add up to me.
I am not sure if these are part of the mentioned hoard, or just another accumulation - not really sure as viewing for these are in CA office.
- even though they call it an auction - it seems more like sealed bid offers thay may accept, reading their terms (read them twice as they are not the usual)
-- although in the past Collectors Choice auctions I have seen, it seems most, if not all have sold
an example is Lot 50018. Lot of approximately (16,040) 1951 Circulated Franklin Half Dollars. Housed in plastic tubes.
I am not sure where the Stack's Street collection came from, but I doubt it will have much if any effect on the market
<< <i>Stacks currently has a Collectors Choice auction closing friday with over 200,000 silver half dollars -roughly a quarter Walking Liberty and the rest Franklins in 28 lots
I am not sure if these are part of the mentioned hoard, or just another accumulation - not really sure as viewing for these are in CA office.
- even though they call it an auction - it seems more like sealed bid offers thay may accept, reading their terms (read them twice as they are not the usual)
-- although in the past Collectors Choice auctions I have seen, it seems most, if not all have sold
an example is Lot 50018. Lot of approximately (16,040) 1951 Circulated Franklin Half Dollars. Housed in plastic tubes.
I am not sure where the Stack's Street collection came from, but I doubt it will have much if any effect on the market >>
Does anyone even collect circulated Franklin Half dollars anymore? This lot sounds like nothing more than a bunch of silver for investors.
<< <i>
<< <i>I'll bet this photo wasn't staged.
Using paper and pen to document 30 tons of coins? This might take a while.
And if I were going to sort through that many coins I would certainly not do it while standing.
<< <i>One piece of stock market news with this release is that Stacks is being split out from Spectrum and becoming a private company. Shareholders were given 65c/share for the Stacks portion which is being taken private. This is roughly a valuation of $20M. Now we get news that in their basement they had this hoard worth $15M-$20M or essentially what shareholders were paid. So Stacks, Spectrum coin, Teletrade had no value and the entire worth was these coins? I think someone got hosed here. >>
I don't know the specifics of the hoard but Stacks probably has liabilities on its balance sheet off setting the full value of these assets. In other words, Stacks could have borrowed $14M to buy these $15M of coins. The net value on its books could be $1M or less.
I still don't see where everyone is getting that these were just sitting in their basement versus buying them outright from a collector or dealer. If I was a shareholder, I would be asking that question on the phone today with all the negative publicity the coins are getting in this thread
<< <i>One piece of stock market news with this release is that Stacks is being split out from Spectrum and becoming a private company. Shareholders were given 65c/share for the Stacks portion which is being taken private. This is roughly a valuation of $20M. Now we get news that in their basement they had this hoard worth $15M-$20M or essentially what shareholders were paid. So Stacks, Spectrum coin, Teletrade had no value and the entire worth was these coins? I think someone got hosed here. >>
Source, please?
Perhaps this grouping will be sold on amazon as well....(though obviously not-)
<< <i>1 million coins, total value between 15 and 20 million... can you say junk silver? So Stacks has a pile of junk silver they just hired or reassigned some people to search for better coins and pull out, great. >>
That was my first reaction.
A million coins worth $15-20 million? And they have yet to be searched but are guessing about total value? Sounds like lots of bags of circulated junk.
If the team examined and logged and filed each coin at the rate of one every minute that would take a million minutes. 8 hour days, 5 days a week, 52 weeks a year...it would take more than 8 years.
No doubt a lot of it will be sold in bulk.
Lance.
<< <i>Until we hear otherwise, I will assume there will not be that many coins valued at $1000 or more each. >>
If Collecting a coin that is so common that its owner shoved it into a burlap sack with 1,000, 2,000 or 5,000 other similar coins and threw the sack in some dark basement, whose sacks are measured in tons, if that excites a collector then go for it.
It doesn't excite me in the least. I enjoy the hunt for coins that are relatively difficult to find.
Tyler
Liberty: Parent of Science & Industry
Maybe it's just me, but I'm seeing A LOT of coins with active PVC inside the NGC holders. Lots of gray haze and bright green spots that have been left untreated. I'm curious why S-B and/or NGC didn't address these problems BEFORE slabbing the affected coins.
I also wonder if anyone else has noticed the same thing.