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Does there continue to be a stigma attached to the Omaha Bank Hoard coins?

sparky64sparky64 Posts: 7,040 ✭✭✭✭✭
in U.S. Coin Forum
It's been about 8 or 9 years since they hit the scene and I was wondering how these coins perceived today at auctions and shows.

Interesting reading old posts.
Almost everyone believed they were over graded with few exceptions.
Many 20th century type collectors were upset that these flooded the market and were perceived to lower their holdings value.

Is the Hoard label still looked at with prejudice?

"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"

My Washington Quarter Registry set...in progress

Comments

  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    Nothing has changed. The coins are common, and I have seen many that I thought were overgraded. It's a worthless pedigree.
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • winkywinky Posts: 1,671 ✭
    Their everywhere, their everywhere!! Buy something else. image
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,389 ✭✭✭✭✭
    There will always be a stigma with Omaha Bank Hoard coins. It (Omaha) was once known as "little Sodom on the Missouri". That was pre Beebee, Judd and Reed. image Now attach coins and what do we get ? A stigma. image
  • astroratastrorat Posts: 9,221 ✭✭✭✭✭
    What is/was the stigma attached to these coins?
    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,389 ✭✭✭✭✭


    << <i>What is/was the stigma attached to these coins? >>


    image… you didn't hear ?
    It ruined the hobby.
  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭


    << <i>What is/was the stigma attached to these coins? >>



    They sat in a bank vault for years until a renovation had to be made. The coins were sold to someone who had them graded and then unloaded. The market for Franklins, Washingtons, Mercs, late-date Walkers, etc., was hit with a flood of common coins that depressed prices. People who looked at the coins were not impressed by the grading. Quite a few of those coins are thought to be overgraded and hard to sell.
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • DAMDAM Posts: 2,410 ✭✭
    As an example there was an OBH Lincoln, 1934d 66RB, in the last Heritage auction. The reverse is horrible! Don't see how it made that grade.

    That said, I was looking at images, not in person.
    Dan
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    It seems that 'hoards' often cause controversy - negative and positive - I recall extensive discussions on the 'Battle Creek Hoard'...Cheers, RickO
  • CaptHenwayCaptHenway Posts: 32,273 ✭✭✭✭✭
    Just like the Wells Fargo Hoard of $20's:

    linky
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • ebaybuyerebaybuyer Posts: 2,984 ✭✭✭
    knowing only what ive read about the Omaha hoard, it seems that the problem wasn't so much with the coins as it was how much they were overgraded... would any TPG intentionally overgrade a group of coins headed for auction knowing this would hurt consumers ?
    regardless of how many posts I have, I don't consider myself an "expert" at anything
  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    All NGC. Hmmm.
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭


    << <i>What is/was the stigma attached to these coins? >>



    My understanding a large auction house bought rolls of coins, had them in house graded by a third party grader, and dumped them on the market, but never recorded the population changes.
    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • ebaybuyerebaybuyer Posts: 2,984 ✭✭✭
    grading services offer ... I mean charge for .... an "opinion" if we don't like their opinion, we are eager to pay for another opinion, my opinion is that in regards to TPG's we pay too much for too little. and that opinion is free of charge
    regardless of how many posts I have, I don't consider myself an "expert" at anything
  • Cougar1978Cougar1978 Posts: 8,313 ✭✭✭✭✭
    Everytime a hoard is released "grading experts" come out of the woodwork to bash the release for any number of reasons, many of them simply self serving.

    I have no issues with the OBH coins in my inventory and consider them an excellent, fascinating piece of numismatic history super for both inventory and investment. I have sold many at shows and online introducing buyers to the pedigree collecting aspect of the hobby. I enjoy the OBH coins and buy / bid on ones of interest. On the sell side, I tack on a $10 pedigree premium for OBH coins. These are a interesting release to collect especially if birthyear / type set. If your a seller, the fact the coin is from the famous OBH is a strong selling point.

    Which reminds me, I believe I will go check out how many on the Bay now and if any I want to buy / bid on.

    Coins & Currency
  • DollarAfterDollarDollarAfterDollar Posts: 3,214 ✭✭✭✭✭
    Kinda silly to hold a grudge about a hoard of relatively common coins when current multi-million dollar auctions like, Newman 1, 2, 3, etc, Pogue, Husak, Partrick and others are flooding the market with much more difficult to find coins that in turn are cratering pricing for everything.

    If you do what you always did, you get what you always got.
  • DoubleEagle59DoubleEagle59 Posts: 8,332 ✭✭✭✭✭


    << <i>All NGC. Hmmm. >>



    I thought quite a few were graded by PCGS and had the same (ahem...cough...cough) overgrading problems too.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • ShamikaShamika Posts: 18,782 ✭✭✭✭


    << <i>

    << <i>All NGC. Hmmm. >>



    I thought quite a few were graded by PCGS and had the same (ahem...cough...cough) overgrading problems too. >>



    I did too.

    Buyer and seller of vintage coin boards!
  • dbldie55dbldie55 Posts: 7,732 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>All NGC. Hmmm. >>



    I thought quite a few were graded by PCGS and had the same (ahem...cough...cough) overgrading problems too. >>



    I did too. >>



    Every Omaha Bank Hoard coin I have seen was in a PCGS holder. Never seen one in a NGC holder.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • DollarAfterDollarDollarAfterDollar Posts: 3,214 ✭✭✭✭✭
    Ahh the finger pointing.


    Whoopsie.
    If you do what you always did, you get what you always got.
  • ManorcourtmanManorcourtman Posts: 8,056 ✭✭✭✭✭
    Is this the hoard responsible for the crash in 32-D and 32-S Washie prices?
  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭
    My only experience is with the Jefferson Nickels. They seem to bring a premium.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭
    I don't really pay much attention to the label....just what the coin looks like or is. I have some of these and have no problem with them.
  • sparky64sparky64 Posts: 7,040 ✭✭✭✭✭
    The reason I bring it up is because I recently bought a OBH 39-D Washington MS65 that I think is solidly graded.

    Never gave the pedigree much thought as they never impress me but out of curiosity I did look up some forum archives on the hoard.

    That's when I saw all the over grading and market flooding gripes.

    "If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"

    My Washington Quarter Registry set...in progress

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Yup !!! :-(
    Timbuk3
  • CaptHenwayCaptHenway Posts: 32,273 ✭✭✭✭✭
    Buy the coin, not the plastic.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • SAM5969SAM5969 Posts: 1,216 ✭✭✭


    << <i>knowing only what ive read about the Omaha hoard, it seems that the problem wasn't so much with the coins as it was how much they were overgraded... would any TPG intentionally overgrade a group of coins headed for auction knowing this would hurt consumers ? >>



    If this was any other industry or field in life, and people weren't so emotionally tied to the hope that "THEY" wouldn't behave so corruptly, it would be crystal clear what the most logical conclusion as to what is really going on would be

    It is all about the bottom line - I have said it over and over again ... Turn the blind eye if you want ... the 26-S 65 red cent going from a $10k coin to a $100k coin ... examples abound ... kickbacks and handshakes are a fact of life everywhere you go - Keep believing they are pure as the driven snow and 100% non-partisan ... completely non-biased and unmotivated nor influenced by any outside sources
    (And keep writing the checks - they'll send you calendars and discount coupons in appreciation)
    imageimage

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